Associated Banc Corp Has $61.16 Million Stock Holdings in ServiceNow, Inc. $NOW

Key Points

• Associated Banc Corp sharply increased its stake in ServiceNow by 410.3% in the fourth quarter, buying 320,973 additional shares and bringing its total holding to 399,210 shares worth about $61.16 million.
• Other major institutions also boosted their ServiceNow positions, with Vanguard, Jennison Associates, Nordea, and Pictet all making large increases. Institutional investors and hedge funds now own 87.18% of the company.
• ServiceNow’s latest earnings showed $0.97 EPS on $3.77 billion in revenue, both in line with or slightly above expectations, while revenue grew 22.1% year over year. Analysts remain generally bullish, with a consensus rating of Moderate Buy and a price target of $141.85.

Associated Banc Corp lifted its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 410.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 399,210 shares of the information technology services provider's stock after buying an additional 320,973 shares during the period. ServiceNow comprises approximately 1.6% of Associated Banc Corp's portfolio, making the stock its 14th biggest position. Associated Banc Corp's holdings in ServiceNow were worth $61,155,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of ServiceNow by 404.5% in the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider's stock valued at $15,619,771,000 after purchasing an additional 81,752,460 shares during the period. State Street Corp increased its holdings in shares of ServiceNow by 1.4% in the 3rd quarter. State Street Corp now owns 9,454,699 shares of the information technology services provider's stock valued at $8,700,970,000 after purchasing an additional 131,080 shares during the period. Jennison Associates LLC increased its holdings in shares of ServiceNow by 280.1% in the 4th quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider's stock valued at $1,291,758,000 after purchasing an additional 6,213,762 shares during the period. Nordea Investment Management AB increased its holdings in shares of ServiceNow by 388.7% in the 4th quarter. Nordea Investment Management AB now owns 4,706,164 shares of the information technology services provider's stock valued at $720,325,000 after purchasing an additional 3,743,087 shares during the period. Finally, Pictet Asset Management Holding SA boosted its position in ServiceNow by 613.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,840,262 shares of the information technology services provider's stock valued at $588,326,000 after purchasing an additional 3,301,962 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Transactions at ServiceNow

In related news, Director Anita M. Sands sold 16,445 shares of the firm's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the completion of the transaction, the director directly owned 30,090 shares of the company's stock, valued at $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Fipps sold 3,696 shares of the firm's stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $101.77, for a total value of $376,141.92. Following the completion of the transaction, the insider directly owned 8,061 shares of the company's stock, valued at approximately $820,367.97. This trade represents a 31.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 31,767 shares of company stock valued at $2,906,098 in the last ninety days. 0.34% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NOW shares. Royal Bank Of Canada restated an "outperform" rating and issued a $121.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. Wolfe Research set a $125.00 target price on ServiceNow in a research note on Thursday, April 23rd. UBS Group set a $150.00 target price on ServiceNow in a research note on Thursday, April 23rd. KeyCorp set a $85.00 target price on ServiceNow and gave the company an "underweight" rating in a research note on Thursday, April 23rd. Finally, Macquarie Infrastructure lowered their target price on ServiceNow from $172.00 to $140.00 and set a "neutral" rating on the stock in a research note on Thursday, January 29th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $141.85.

ServiceNow News Summary

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 Stock Performance

Shares of NYSE NOW opened at $102.13 on Friday. The business has a fifty day simple moving average of $98.74 and a 200 day simple moving average of $126.13. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $105.29 billion, a price-to-earnings ratio of 60.86, a PEG ratio of 1.81 and a beta of 0.82. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting the consensus estimate of $0.97. The firm had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.ServiceNow's quarterly revenue was up 22.1% compared to the same quarter last year. During the same period last year, the business earned $0.81 earnings per share. Sell-side analysts expect that ServiceNow, Inc. will post 2.35 EPS for the current year.

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.

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