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

Nisa Investment Advisors LLC grew its stake in ServiceNow, Inc. (NYSE:NOW) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,048 shares of the information technology services provider’s stock after acquiring an additional 472 shares during the quarter. Nisa Investment Advisors LLC’s holdings in ServiceNow were worth $30,413,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in NOW. RB Capital Management LLC increased its stake in ServiceNow by 25.2% in the first quarter. RB Capital Management LLC now owns 954 shares of the information technology services provider’s stock valued at $531,000 after purchasing an additional 192 shares during the last quarter. Zions Bancorporation N.A. increased its stake in ServiceNow by 17.9% in the first quarter. Zions Bancorporation N.A. now owns 875 shares of the information technology services provider’s stock valued at $487,000 after purchasing an additional 133 shares during the last quarter. Brown Brothers Harriman & Co. increased its stake in ServiceNow by 728.0% in the first quarter. Brown Brothers Harriman & Co. now owns 1,921 shares of the information technology services provider’s stock valued at $1,070,000 after purchasing an additional 1,689 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in ServiceNow by 9.0% in the first quarter. Parkside Financial Bank & Trust now owns 350 shares of the information technology services provider’s stock valued at $195,000 after purchasing an additional 29 shares during the last quarter. Finally, NewEdge Advisors LLC increased its stake in ServiceNow by 0.7% in the first quarter. NewEdge Advisors LLC now owns 11,671 shares of the information technology services provider’s stock valued at $6,499,000 after purchasing an additional 86 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the sale, the insider now directly owns 5,453 shares in the company, valued at approximately $4,064,229.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the transaction, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The disclosure for this sale can be found here. Insiders have sold a total of 13,164 shares of company stock worth $9,940,303 in the last three months. 0.28% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NOW has been the subject of several research analyst reports. Truist Financial upped their price target on ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. KeyCorp initiated coverage on ServiceNow in a research note on Thursday, March 21st. They set an “overweight” rating and a $1,000.00 price target for the company. Mizuho upped their price target on ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Stifel Nicolaus restated a “buy” rating and set a $820.00 price target on shares of ServiceNow in a research note on Wednesday, March 20th. Finally, Royal Bank of Canada upped their price target on ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Two investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $762.96.

ServiceNow Trading Up 3.4 %

Shares of NYSE NOW opened at $783.50 on Monday. The company has a market cap of $160.92 billion, a price-to-earnings ratio of 93.16, a price-to-earnings-growth ratio of 4.95 and a beta of 0.97. ServiceNow, Inc. has a 12-month low of $427.68 and a 12-month high of $815.32. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. The stock’s 50 day simple moving average is $770.57 and its 200 day simple moving average is $689.68.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.34. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The business’s revenue was up 25.6% on a year-over-year basis. During the same quarter last year, the business posted $0.88 EPS. Equities research analysts expect that ServiceNow, Inc. will post 6.16 EPS for the current year.

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.