Nisa Investment Advisors LLC Purchases 2,065 Shares of ServiceNow, Inc. $NOW

Nisa Investment Advisors LLC grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 4.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 50,416 shares of the information technology services provider’s stock after acquiring an additional 2,065 shares during the quarter. Nisa Investment Advisors LLC’s holdings in ServiceNow were worth $51,832,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Wealth Preservation Advisors LLC acquired a new stake in shares of ServiceNow during the 1st quarter worth $382,000. Corient IA LLC acquired a new stake in shares of ServiceNow in the 1st quarter valued at approximately $796,000. Parr Mcknight Wealth Management Group LLC bought a new stake in shares of ServiceNow during the first quarter worth $1,820,000. ASR Vermogensbeheer N.V. bought a new stake in ServiceNow during the 1st quarter worth $19,278,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of ServiceNow by 131.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock valued at $1,178,706,000 after buying an additional 840,731 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on NOW shares. Zacks Research upgraded ServiceNow from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Wells Fargo & Company lifted their price objective on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Morgan Stanley raised ServiceNow from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $1,040.00 to $1,250.00 in a research note on Wednesday, September 24th. Erste Group Bank reaffirmed a “hold” rating on shares of ServiceNow in a research note on Wednesday, July 23rd. Finally, Needham & Company LLC raised their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $1,124.17.

ServiceNow Stock Performance

Shares of NOW opened at $929.77 on Friday. The firm has a market cap of $193.39 billion, a PE ratio of 117.10, a PEG ratio of 4.19 and a beta of 0.92. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The stock’s fifty day moving average price is $917.85 and its two-hundred day moving average price is $942.45.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.52. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company’s revenue was up 22.4% on a year-over-year basis. During the same quarter last year, the company earned $3.13 earnings per share. On average, equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Buying and Selling at ServiceNow

In other news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,489,427.55. Following the sale, the insider directly owned 3,000 shares of the company’s stock, valued at approximately $2,599,350. This represents a 36.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul Fipps sold 1,452 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the completion of the transaction, the insider owned 457 shares of the company’s stock, valued at $409,037.85. This trade represents a 76.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,737 shares of company stock worth $16,798,825 in the last three months. 0.38% of the stock is currently owned by corporate insiders.

About ServiceNow

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.