441,315 Shares in ServiceNow, Inc. $NOW Purchased by Associated Banc Corp

Key Points

• Associated Banc Corp bought 441,315 ServiceNow shares in the third quarter, valued at about $59.1 million; the position represents roughly 1.4% of its portfolio.
• ServiceNow’s quarterly revenue rose 20.5% year over year to $4.11 billion, slightly beating estimates, while EPS of $1.00 narrowly missed the $1.02 consensus.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $154.50; the article also cites concerns about weaker backlog guidance and pressure from AI investment and business-model changes.

Associated Banc Corp acquired a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 441,315 shares of the information technology services provider's stock, valued at approximately $59,141,000. ServiceNow makes up approximately 1.4% of Associated Banc Corp's investment portfolio, making the stock its 13th largest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of Nova Scotia raised its position in ServiceNow by 53.3% in the first quarter. Bank of Nova Scotia now owns 1,018,036 shares of the information technology services provider's stock worth $106,436,000 after purchasing an additional 353,749 shares in the last quarter. Sapient Capital LLC lifted its stake in ServiceNow by 266.0% during the second quarter. Sapient Capital LLC now owns 77,661 shares of the information technology services provider's stock worth $7,710,000 after purchasing an additional 56,444 shares during the period. Meeder Advisory Services Inc. acquired a new stake in ServiceNow during the second quarter valued at approximately $2,881,000. Vestor Capital LLC boosted its holdings in ServiceNow by 38,987.2% during the first quarter. Vestor Capital LLC now owns 122,343 shares of the information technology services provider's stock valued at $12,791,000 after purchasing an additional 122,030 shares in the last quarter. Finally, Cardano Risk Management B.V. grew its stake in shares of ServiceNow by 6.9% in the 2nd quarter. Cardano Risk Management B.V. now owns 484,785 shares of the information technology services provider's stock valued at $48,129,000 after purchasing an additional 31,119 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Stock Up 2.9%

Shares of NYSE NOW opened at $109.09 on Wednesday. The firm's 50-day moving average is $137.87 and its 200-day moving average is $115.16. The firm has a market capitalization of $113.24 billion, a PE ratio of 57.93, a price-to-earnings-growth ratio of 2.03 and a beta of 1.00. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $181.73. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.42.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The information technology services provider reported $1.00 earnings per share for the quarter, missing analysts' consensus estimates of $1.02 by ($0.02). ServiceNow had a net margin of 9.36% and a return on equity of 15.17%. The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same period last year, the company earned $4.82 EPS. The business's revenue for the quarter was up 20.5% compared to the same quarter last year. Equities analysts expect that ServiceNow, Inc. will post 2.13 EPS for the current year.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 7,847 shares of the company's stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $138.00, for a total value of $1,082,886.00. Following the completion of the sale, the insider owned 30,042 shares of the company's stock, valued at approximately $4,145,796. This represents a 20.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 2,034 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $147.87, for a total transaction of $300,767.58. Following the completion of the sale, the insider owned 18,305 shares in the company, valued at approximately $2,706,760.35. This trade represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 14,081 shares of company stock valued at $1,937,904 in the last 90 days. 0.34% of the stock is owned by insiders.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Argus reaffirmed its Buy rating and set a $170 price target, signaling confidence in ServiceNow’s recovery potential after the recent selloff. Argus rating and price target
• Positive Sentiment: ServiceNow’s enterprise AI push—including its Control Tower Alliance with major technology partners—could strengthen its role in helping companies deploy and govern AI. ServiceNow rolls out Control Tower Alliance
• Positive Sentiment: Recent commentary argues that the selloff may offer a buying opportunity, citing ServiceNow’s growth prospects and demand for AI-driven workflow tools. ServiceNow Stock: Buy the Dip?
• Neutral Sentiment: Q3 revenue was about $4.1 billion, slightly ahead of estimates, but the company is increasing AI-related investment and shifting toward outcome-based pricing—changes that could affect how growth and profitability develop. How Higher AI Spending Will Impact ServiceNow Stock
• Negative Sentiment: The sharp recent decline followed weaker fourth-quarter backlog guidance, which revived fears that AI could disrupt seat-based software models and weigh on future growth. ServiceNow’s selloff and Wall Street price-target cuts
• Negative Sentiment: Management’s AI investments and business-model changes pressured operating margins, adding to investor concerns despite revenue growth. Analyst questions from ServiceNow’s Q3 earnings call

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Sanford C. Bernstein reissued an "outperform" rating and issued a $266.00 target price on shares of ServiceNow in a report on Tuesday, October 20th. Benchmark reissued a "buy" rating on shares of ServiceNow in a report on Friday, July 17th. Stifel Nicolaus set a $160.00 target price on shares of ServiceNow and gave the stock a "buy" rating in a research report on Tuesday, October 6th. Wells Fargo & Company cut their price target on shares of ServiceNow from $190.00 to $175.00 and set an "overweight" rating for the company in a report on Thursday, October 29th. Finally, Needham & Company LLC boosted their price target on shares of ServiceNow from $115.00 to $155.00 and gave the company a "buy" rating in a research report on Friday, September 11th. One analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $154.50.

ServiceNow Company Profile

ServiceNow, Inc provides cloud-based software designed to help organizations digitize, automate and manage enterprise workflows. Its Now Platform connects people, processes and systems across departments, enabling customers to manage work through a centralized technology environment.

The company's products and services address a range of business needs, including information technology service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance, and application development.

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