161,954 Shares in ServiceNow, Inc. $NOW Purchased by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management purchased 161,954 ServiceNow shares worth approximately $16.1 million in the second quarter. Institutional investors collectively own 87.18% of the company.
• ServiceNow reported quarterly revenue of $3.99 billion, up 24% year over year, and earnings of $0.90 per share, beating analyst expectations. The company also expanded its Tech Mahindra partnership to advance enterprise AI deployments.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $144.24, although ServiceNow’s premium valuation and competition from AI-native automation platforms remain key risks.

Northwestern Mutual Wealth Management Co. acquired a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the second quarter, according to its most recent filing with the SEC. The fund acquired 161,954 shares of the information technology services provider's stock, valued at approximately $16,079,000.

A number of other hedge funds have also added to or reduced their stakes in NOW. Covenant Asset Management LLC boosted its holdings in shares of ServiceNow by 169.2% in the 4th quarter. Covenant Asset Management LLC now owns 20,863 shares of the information technology services provider's stock worth $3,196,000 after purchasing an additional 13,114 shares in the last quarter. Norges Bank purchased a new position in shares of ServiceNow in the fourth quarter worth $2,020,992,000. World Investment Advisors increased its position in shares of ServiceNow by 411.7% in the fourth quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider's stock valued at $7,346,000 after acquiring an additional 38,583 shares during the period. Moors & Cabot Inc. increased its holdings in ServiceNow by 387.7% during the 4th quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider's stock valued at $6,990,000 after purchasing an additional 36,274 shares during the period. Finally, Bank of Nova Scotia raised its position in ServiceNow by 53.3% during the 1st quarter. Bank of Nova Scotia now owns 1,018,036 shares of the information technology services provider's stock valued at $106,436,000 after purchasing an additional 353,749 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its multi-year partnership with Tech Mahindra to help enterprises move AI projects from pilot programs into production. The “Client Zero” approach combines ServiceNow’s AI platform with Tech Mahindra’s industry expertise, potentially increasing adoption, automation revenue and measurable customer outcomes. Tech Mahindra and ServiceNow Expand Partnership to Deliver Production-Ready Enterprise AI at Scale
• Positive Sentiment: Bank of America raised its ServiceNow price target to $150, citing the company’s positioning to monetize artificial intelligence as concerns about AI disruption to traditional software fade. The move contributed to broader bullish sentiment across software stocks. Bank of America Increases ServiceNow Price Target to $150
• Positive Sentiment: ServiceNow has gained substantially since its latest earnings report, which beat estimates on both adjusted earnings and revenue. Quarterly revenue increased 24% year over year, reinforcing the view that the company remains a leading enterprise AI and workflow platform. ServiceNow Up 41.1% Since Last Earnings Report
• Positive Sentiment: ServiceNow was also selected as a CNBC “Final Trade,” providing additional visibility and signaling continued support from some professional investors. Final Trades: ServiceNow, Vertex and Uber
• Neutral Sentiment: Despite the favorable company news, midday AI buying has been concentrated in government-facing companies such as Palantir and BigBear.ai rather than enterprise software, limiting near-term upside for NOW. How Are Traders Picking the Software Winners?
• Negative Sentiment: Investors continue to monitor competitive threats from newer AI-native automation platforms, including Serval, as well as ServiceNow’s premium valuation. Those concerns may encourage profit-taking after the stock’s sharp post-earnings advance. Serval Wants To Replace ServiceNow With AI That Builds Enterprise Automation

Analyst Upgrades and Downgrades

Several brokerages have commented on NOW. Morgan Stanley set a $180.00 price objective on shares of ServiceNow in a report on Tuesday, July 21st. Bank of America boosted their target price on ServiceNow from $130.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday. Citic Securities cut their price objective on shares of ServiceNow from $168.00 to $140.00 and set a "buy" rating on the stock in a research report on Thursday, May 21st. Cantor Fitzgerald raised their price target on shares of ServiceNow from $122.00 to $141.00 and gave the company an "overweight" rating in a research report on Monday, July 20th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $115.00 target price on shares of ServiceNow in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $144.24.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $128.73 on Friday. The firm has a fifty day moving average price of $108.88 and a 200 day moving average price of $105.74. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $194.73. The firm has a market cap of $133.11 billion, a price-to-earnings ratio of 80.46, a P/E/G ratio of 2.26 and a beta of 0.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.04. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The company had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $3.93 billion. During the same quarter in the previous year, the business posted $0.81 earnings per share. ServiceNow's quarterly revenue was up 24.0% on a year-over-year basis. As a group, sell-side analysts expect that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $125.60, for a total value of $188,400.00. Following the sale, the director owned 46,690 shares of the company's stock, valued at approximately $5,864,264. This represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is owned by company insiders.

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.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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