Associated Banc Corp Buys 320,973 Shares of ServiceNow, Inc. $NOW

Associated Banc Corp grew its stake in ServiceNow, Inc. (NYSE:NOW) by 410.3% during the 4th quarter, HoldingsChannel reports. The firm owned 399,210 shares of the information technology services provider’s stock after acquiring an additional 320,973 shares during the quarter. ServiceNow makes up approximately 1.6% of Associated Banc Corp’s holdings, making the stock its 14th biggest holding. Associated Banc Corp’s holdings in ServiceNow were worth $61,155,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of NOW. Brighton Jones LLC grew its stake 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 valued at $2,919,000 after purchasing an additional 30 shares during the period. Sivia Capital Partners LLC grew its position in ServiceNow by 4.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock worth $861,000 after acquiring an additional 34 shares during the last quarter. United Bank grew its position in ServiceNow by 15.5% during the 2nd quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock worth $1,562,000 after acquiring an additional 204 shares during the last quarter. Riggs Asset Managment Co. Inc. grew its position in ServiceNow by 2.2% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider’s stock worth $1,976,000 after acquiring an additional 42 shares during the last quarter. Finally, Nebula Research & Development LLC grew its position in ServiceNow by 205.1% during the 2nd quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider’s stock worth $931,000 after acquiring an additional 609 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 8,927 shares of ServiceNow stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the sale, the insider owned 29,531 shares of the company’s stock, valued at approximately $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the sale, the director directly owned 44,930 shares in the company, valued at approximately $3,919,243.90. This represents a 3.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 31,767 shares of company stock worth $2,906,098 in the last three months. Insiders own 0.34% of the company’s stock.

ServiceNow Stock Performance

NOW opened at $102.13 on Friday. The business’s 50-day moving average price is $98.74 and its two-hundred day moving average price is $126.13. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48. The company has a market capitalization of $105.29 billion, a price-to-earnings ratio of 60.86, a P/E/G ratio of 1.81 and a beta of 0.82. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.97. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter last year, the business posted $0.81 EPS. Equities analysts expect that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on NOW. Piper Sandler decreased their price target on ServiceNow from $200.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. TD Cowen restated a “buy” rating and set a $140.00 price target on shares of ServiceNow in a research report on Thursday, April 23rd. Weiss Ratings lowered ServiceNow from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, April 21st. BTIG Research restated a “buy” rating and set a $150.00 price target on shares of ServiceNow in a research report on Monday, May 4th. Finally, JPMorgan Chase & Co. decreased their price target on ServiceNow from $195.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $141.85.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Recent coverage argues that ServiceNow’s broader AI roadmap and new workflow products are helping drive investor optimism, with one report saying fresh AI initiatives and analyst support helped lift the shares. ServiceNow Rally Builds Around Broader AI Strategy
• Positive Sentiment: Bank of America reportedly reinstated coverage with a Buy rating and a $130 price target, reinforcing the view that ServiceNow could benefit as an AI workflow recovery story. Why ServiceNow (NOW) Is Still an AI Workflow Recovery Bet
• Positive Sentiment: Another article highlights ServiceNow as a “mispriced” AI beneficiary, pointing to strong subscription growth, healthy free-cash-flow margins, and expanding enterprise adoption of its agentic AI tools. ServiceNow: The Big Mispriced Tollbooth For Agentic AI
• Positive Sentiment: Market commentary notes that ServiceNow has outperformed since its last earnings report, with investors still looking for upside from earnings estimate trends and AI-related growth expectations. Why Is ServiceNow (NOW) Up 17.6% Since Last Earnings Report?
• Positive Sentiment: Additional valuation-focused coverage grouped ServiceNow with other software names that may be trading at compelling levels despite continued growth forecasts, supporting the bullish case for the stock. Intuit Drops 63%: Are Software Stocks Deep Value or a Trap?
• Neutral Sentiment: Citic Securities lowered its price target on ServiceNow to $140 from $168 but kept a Buy rating, which tempers but does not reverse the constructive outlook. Citic Securities adjusts ServiceNow price target

ServiceNow Profile

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.