Associated Banc Corp Acquires 41,818 Shares of ServiceNow, Inc. $NOW

Associated Banc Corp increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 10.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 441,028 shares of the information technology services provider’s stock after purchasing an additional 41,818 shares during the period. ServiceNow makes up 1.2% of Associated Banc Corp’s investment portfolio, making the stock its 15th biggest holding. Associated Banc Corp’s holdings in ServiceNow were worth $46,109,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Noble Wealth Management PBC lifted its position in shares of ServiceNow by 400.0% during the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 128 shares during the last quarter. Millstone Evans Group LLC boosted its position in shares of ServiceNow by 400.0% during the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 132 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its stake in shares of ServiceNow by 540.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 135 shares during the period. Blueline Advisors LLC acquired a new position in ServiceNow during the fourth quarter worth $25,000. Finally, Measured Wealth Private Client Group LLC lifted its holdings in ServiceNow by 560.0% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 140 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow rallied after reports that a large international electronics company is teaming up with the company on a new AI-powered product that will be available on ServiceNow’s platform, reinforcing its role in enterprise AI. Why ServiceNow Stock Crushed it on Thursday
• Positive Sentiment: Truist Financial raised its price target on ServiceNow from $120 to $130 and kept a buy rating, signaling continued analyst confidence in the company’s growth prospects. Benzinga report on Truist price target increase
• Positive Sentiment: Investor sentiment around software improved as AI spending expectations shifted in favor of application software, helping ServiceNow participate in the broader rotation toward software names. Chip Stocks Drop 12% as Software Rebounds in AI Trade Shift
• Neutral Sentiment: Several market updates described ServiceNow as consolidating or trading flat while investors digested the AI partnership news and a more constructive analyst tone, suggesting a pause after the recent move rather than a fresh fundamental shift. ServiceNow Stock Consolidates as Accenture Launches Agentic AI Offerings
• Negative Sentiment: Friday trading saw ServiceNow slip as investors appeared to take profits and reassess whether the recent AI enthusiasm has already been priced in. ServiceNow Stock Falls Friday: What’s Going On?

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NOW. Raymond James Financial lowered their target price on ServiceNow from $160.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. Jefferies Financial Group reissued a “buy” rating and issued a $135.00 price target (down from $175.00) on shares of ServiceNow in a research note on Thursday, April 23rd. UBS Group reaffirmed an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 26th. Sanford C. Bernstein reiterated an “outperform” rating on shares of ServiceNow in a report on Monday, June 29th. Finally, Canaccord Genuity Group lowered their target price on ServiceNow from $200.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $141.47.

ServiceNow Stock Performance

Shares of NYSE NOW traded down $1.03 during midday trading on Friday, hitting $107.81. 11,058,890 shares of the company’s stock were exchanged, compared to its average volume of 20,996,616. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $210.20. The firm has a market capitalization of $111.16 billion, a PE ratio of 64.25, a price-to-earnings-growth ratio of 1.79 and a beta of 0.96. The company’s 50 day moving average price is $102.49 and its 200 day moving average price is $111.27. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter last year, the company posted $0.81 EPS. ServiceNow’s quarterly revenue was up 22.1% compared to the same quarter last year. As a group, analysts predict that ServiceNow, Inc. will post 2.34 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the transaction, the director owned 44,930 shares in the company, valued at $3,919,243.90. This represents a 3.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of ServiceNow stock in a transaction on Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the transaction, the insider directly owned 29,531 shares of the company’s stock, valued at $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is currently owned by company insiders.

About ServiceNow

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.