Northwestern Mutual Wealth Management Co. Raises Stock Position in ServiceNow, Inc. $NOW

Key Points

• Northwestern Mutual Wealth Management Co. sharply increased its ServiceNow stake in the fourth quarter, boosting holdings by 372.8% to 512,748 shares valued at about $78.5 million.
• Institutional ownership remains very high, with 87.18% of ServiceNow shares held by institutions and hedge funds. Several other firms also added modestly to their positions.
• Analysts remain broadly positive on the stock, with a consensus Moderate Buy rating and an average price target of $141.85, even though some firms recently trimmed their targets.

Northwestern Mutual Wealth Management Co. increased its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 372.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 512,748 shares of the information technology services provider's stock after purchasing an additional 404,303 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in ServiceNow were worth $78,548,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in 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 in the last quarter. Sivia Capital Partners LLC lifted its stake in ServiceNow by 4.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider's stock worth $861,000 after purchasing an additional 34 shares in the last quarter. United Bank boosted its holdings in shares of 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 purchasing an additional 204 shares during the last quarter. Riggs Asset Managment Co. Inc. grew its position in shares of ServiceNow by 2.2% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider's stock valued at $1,976,000 after purchasing an additional 42 shares in the last quarter. Finally, Nebula Research & Development LLC boosted its stake in ServiceNow by 205.1% during the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider's stock worth $931,000 after buying an additional 609 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Bank of America began coverage on shares of ServiceNow in a report on Monday, May 18th. They issued a "buy" rating and a $130.00 price objective for the company. BMO Capital Markets decreased their target price on shares of ServiceNow from $120.00 to $115.00 and set an "outperform" rating on the stock in a report on Thursday, April 23rd. Sanford C. Bernstein reissued an "outperform" rating and issued a $236.00 price target (up from $226.00) on shares of ServiceNow in a research note on Wednesday, May 6th. Piper Sandler cut their price target on shares of ServiceNow from $200.00 to $140.00 and set an "overweight" rating for the company in a report on Thursday, April 23rd. Finally, Morgan Stanley reduced their price target on shares of ServiceNow from $210.00 to $180.00 and set an "overweight" rating on the stock in a research report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $141.85.

Insider Activity

In related news, insider Paul Fipps sold 1,048 shares of the business's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the sale, the insider owned 12,072 shares in the company, valued at $1,189,212.72. The trade was a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider owned 29,531 shares in the company, valued at $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is currently owned by company insiders.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow is benefiting from a sector-wide rebound in software stocks after Snowflake’s strong earnings suggested AI is more of an opportunity than a threat for enterprise platforms. ServiceNow (NOW) Stock Trades Up, Here Is Why
• Positive Sentiment: Investors are also responding to ServiceNow’s expanding AI narrative, including its position as a key platform for agentic AI workflows and enterprise automation. ServiceNow's stock soars toward historic month as AI fears fade across software
• Positive Sentiment: Coverage calling ServiceNow a buy at current levels and setting a higher price target is adding to the bullish sentiment around the stock’s valuation reset. Buy, Hold, or Sell: Is This Cloud Automation Juggernaut a Steal Following Its Massive Valuation Reset?
• Positive Sentiment: Momentum from partnerships and AI-related headlines, including Wipro’s expanded ServiceNow collaboration, is reinforcing the company’s relevance in enterprise automation. Wipro stock gains 4%: can its ServiceNow tie-up drive growth?
• Neutral Sentiment: Unusually high options activity suggests traders are positioning for continued volatility in ServiceNow shares. ServiceNow Sees Unusually High Options Volume NYSE: NOW

ServiceNow Price Performance

Shares of NYSE NOW opened at $124.56 on Friday. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $211.48. The company has a market cap of $128.42 billion, a price-to-earnings ratio of 74.23, a price-to-earnings-growth ratio of 1.80 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. The stock's 50-day moving average is $98.05 and its two-hundred day moving average is $123.74.

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 for the quarter, meeting 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 for the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter last year, the company earned $0.81 earnings per share. The firm's revenue was up 22.1% compared to the same quarter last year. Analysts forecast that ServiceNow, Inc. will post 2.35 EPS for the current fiscal 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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