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

Nisa Investment Advisors LLC reduced its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 26.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,351 shares of the information technology services provider's stock after selling 17,489 shares during the period. Nisa Investment Advisors LLC's holdings in ServiceNow were worth $38,494,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Brighton Jones LLC grew its position in shares of ServiceNow by 1.1% in the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock worth $2,919,000 after buying an additional 30 shares during the last quarter. Proficio Capital Partners LLC raised its stake in ServiceNow by 45.6% during the fourth quarter. Proficio Capital Partners LLC now owns 629 shares of the information technology services provider's stock valued at $667,000 after buying an additional 197 shares during the last quarter. Larson Financial Group LLC raised its stake in ServiceNow by 7.3% during the fourth quarter. Larson Financial Group LLC now owns 440 shares of the information technology services provider's stock valued at $466,000 after buying an additional 30 shares during the last quarter. AlphaQuest LLC purchased a new position in shares of ServiceNow in the fourth quarter worth $131,000. Finally, NBT Bank N A NY raised its stake in shares of ServiceNow by 35.1% in the fourth quarter. NBT Bank N A NY now owns 1,089 shares of the information technology services provider's stock worth $1,154,000 after purchasing an additional 283 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Cantor Fitzgerald restated an "overweight" rating and issued a $1,048.00 price target on shares of ServiceNow in a research note on Thursday, April 24th. Wells Fargo & Company lifted their target price on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. TD Securities reaffirmed a "buy" rating and issued a $1,100.00 price objective on shares of ServiceNow in a research note on Thursday, April 24th. Mizuho upped their price objective on ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Thursday, June 12th. Finally, Truist Financial raised ServiceNow from a "hold" rating to a "buy" rating and increased their price target for the company from $950.00 to $1,200.00 in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,068.23.

ServiceNow Stock Performance

NOW traded down $7.81 on Wednesday, reaching $1,015.17. 1,146,714 shares of the stock were exchanged, compared to its average volume of 1,482,093. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The company's 50-day moving average price is $1,007.49 and its 200 day moving average price is $962.22. The firm has a market capitalization of $210.12 billion, a PE ratio of 137.93, a PEG ratio of 4.75 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating the consensus estimate of $3.78 by $0.26. The business had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The business's quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the business posted $3.41 EPS. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Deborah Black sold 598 shares of the company's stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $940.23, for a total value of $562,257.54. Following the completion of the sale, the director directly owned 428 shares in the company, valued at $402,418.44. This represents a 58.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Anita M. Sands sold 428 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total value of $433,825.08. Following the completion of the transaction, the director owned 10,891 shares in the company, valued at $11,039,226.51. This represents a 3.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,955 shares of company stock valued at $6,862,195. 0.38% of the stock is 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.