Northwestern Mutual Wealth Management Co. Purchases 879,902 Shares of ServiceNow, Inc. $NOW

Key Points

• Northwestern Mutual Wealth Management Co. dramatically increased its ServiceNow stake by 811.4% in the fourth quarter, buying 879,902 additional shares and lifting its holdings to 988,347 shares worth about $151.4 million.
• ServiceNow continues to attract strong institutional ownership, with 87.18% of shares held by institutions, while some smaller investors also modestly increased positions.
• Analysts remain generally positive, with ServiceNow carrying a “Moderate Buy” consensus and an average price target of $144.71, even as several firms recently trimmed their targets amid recent stock weakness.

Northwestern Mutual Wealth Management Co. raised its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 811.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 988,347 shares of the information technology services provider's stock after purchasing an additional 879,902 shares during the period. Northwestern Mutual Wealth Management Co. owned 0.09% of ServiceNow worth $151,405,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Avidian Wealth Enterprises LLC boosted its stake in shares of ServiceNow by 2.5% during the third quarter. Avidian Wealth Enterprises LLC now owns 453 shares of the information technology services provider's stock valued at $417,000 after purchasing an additional 11 shares in the last quarter. Meridian Wealth Advisors LLC boosted its stake in shares of ServiceNow by 2.2% during the third quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider's stock valued at $508,000 after purchasing an additional 12 shares in the last quarter. Valley Brook Capital Group Inc. boosted its stake in shares of ServiceNow by 2.1% during the third quarter. Valley Brook Capital Group Inc. now owns 634 shares of the information technology services provider's stock valued at $583,000 after purchasing an additional 13 shares in the last quarter. Catalyst Financial Partners LLC boosted its stake in shares of ServiceNow by 1.0% during the third quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider's stock valued at $1,169,000 after purchasing an additional 13 shares in the last quarter. Finally, JT Stratford LLC boosted its stake in shares of ServiceNow by 3.5% during the third quarter. JT Stratford LLC now owns 385 shares of the information technology services provider's stock valued at $354,000 after purchasing an additional 13 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on NOW shares. Royal Bank Of Canada reiterated an "outperform" rating and set a $121.00 price objective on shares of ServiceNow in a research note on Tuesday, May 5th. JPMorgan Chase & Co. decreased their target price on shares of ServiceNow from $195.00 to $145.00 and set an "overweight" rating for the company in a research report on Thursday, April 23rd. FBN Securities decreased their target price on shares of ServiceNow from $160.00 to $120.00 in a research report on Thursday, April 23rd. BTIG Research reissued a "buy" rating and set a $150.00 target price on shares of ServiceNow in a research report on Monday, May 4th. Finally, Raymond James Financial decreased their target price on shares of ServiceNow from $160.00 to $130.00 and set an "outperform" rating for the company in a research report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $144.71.

ServiceNow Trading Up 5.1%

Shares of ServiceNow stock opened at $95.15 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a fifty day moving average price of $100.52 and a 200 day moving average price of $129.07. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48. The stock has a market cap of $98.10 billion, a PE ratio of 56.71, a price-to-earnings-growth ratio of 1.68 and a beta of 0.82.

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

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow and Experian announced a new multi-year global partnership to embed autonomous AI capabilities into workflows such as employee onboarding and third-party risk management, which could deepen platform adoption and expand use cases. Experian Partners With ServiceNow to Scale Trusted Decisioning to Agentic AI
• Positive Sentiment: ServiceNow also expanded AI and automation partnerships with Accenture and FedEx Dataworks, signaling stronger enterprise demand for its workflow platform and potential conversion of pilot projects into full production deployments. ServiceNow AI Partnerships Aim To Turn Pilot Projects Into Core Workflows
• Positive Sentiment: The company completed a $4 billion multi-tranche debt offering, which should improve financing flexibility even though it increases leverage. ServiceNow Completes $4 Billion Multi-Tranche Debt Offering
• Neutral Sentiment: Commentary from analysts highlights ServiceNow’s expanding customer base, 22% subscription revenue growth, and strong remaining performance obligations visibility, reinforcing expectations for continued top-line growth. Can an Expanding Clientele Boost ServiceNow's Top-Line Growth?
• Negative Sentiment: Some market coverage and options activity suggest the stock has been under pressure recently, reflecting lingering concerns about valuation and post-earnings weakness. See ServiceNow Stock Heading Lower? This Trade Profits From Further Downside.

Insider Buying and Selling at ServiceNow

In related news, insider Paul Fipps sold 9,641 shares of the firm's stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $105.93, for a total transaction of $1,021,271.13. Following the completion of the transaction, the insider owned 11,757 shares of the company's stock, valued at $1,245,419.01. This trade represents a 45.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 8,927 shares of the firm's stock in a transaction on Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the sale, the insider owned 29,531 shares in the company, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 22,415 shares of company stock valued at $2,210,933. 0.34% of the stock is currently owned by corporate 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.

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