Nisa Investment Advisors LLC Raises Stake in ServiceNow, Inc. (NYSE:NOW)

Nisa Investment Advisors LLC lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 10.4% during the third quarter, HoldingsChannel.com reports. The firm owned 62,941 shares of the information technology services provider’s stock after purchasing an additional 5,909 shares during the period. Nisa Investment Advisors LLC’s holdings in ServiceNow were worth $56,294,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Creekmur Asset Management LLC purchased a new stake in ServiceNow during the first quarter worth $25,000. Versant Capital Management Inc boosted its position in shares of ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after buying an additional 28 shares in the last quarter. EntryPoint Capital LLC grew its stake in ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares during the last quarter. Ridgewood Investments LLC purchased a new position in ServiceNow during the 2nd quarter valued at about $32,000. Finally, DT Investment Partners LLC raised its position in ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

NYSE NOW opened at $945.44 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow, Inc. has a 1-year low of $558.09 and a 1-year high of $979.78. The firm has a market capitalization of $194.76 billion, a P/E ratio of 147.04, a P/E/G ratio of 5.67 and a beta of 0.99. The business’s 50-day simple moving average is $887.83 and its 200-day simple moving average is $798.89.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the previous year, the company posted $1.21 earnings per share. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. Equities analysts predict that ServiceNow, Inc. will post 6.78 EPS for the current year.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of recent research reports. UBS Group raised their price objective on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Mizuho raised their price target on ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Evercore ISI upped their price objective on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. TD Cowen lifted their price objective on ServiceNow from $900.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Jefferies Financial Group upped their target price on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $970.33.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the transaction, the insider now directly owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,467 shares of company stock worth $4,450,447. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.