Northwestern Mutual Wealth Management Co. Has $13.03 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Northwestern Mutual Wealth Management Co. increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 9.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,561 shares of the information technology services provider’s stock after acquiring an additional 1,484 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in ServiceNow were worth $13,027,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Morling Financial Advisors LLC lifted its holdings in shares of ServiceNow by 2.5% during the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock valued at $415,000 after acquiring an additional 13 shares during the period. Optas LLC lifted its holdings in ServiceNow by 1.7% during the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock valued at $621,000 after purchasing an additional 14 shares during the last quarter. Cedar Wealth Management LLC boosted its position in ServiceNow by 5.5% in the first quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock valued at $204,000 after buying an additional 14 shares in the last quarter. Financial Advocates Investment Management grew its stake in ServiceNow by 2.7% during the second quarter. Financial Advocates Investment Management now owns 527 shares of the information technology services provider’s stock worth $415,000 after buying an additional 14 shares during the last quarter. Finally, Ndwm LLC increased its holdings in shares of ServiceNow by 0.6% during the second quarter. Ndwm LLC now owns 2,415 shares of the information technology services provider’s stock worth $1,900,000 after buying an additional 14 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NOW shares. Truist Financial increased their price target on ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Piper Sandler increased their target price on ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. JMP Securities lifted their price target on ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a report on Thursday, July 25th. Needham & Company LLC reissued a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a report on Monday, September 9th. Finally, Citigroup raised their price objective on shares of ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $855.44.

Insider Buying and Selling

In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $825.92, for a total transaction of $77,636.48. Following the completion of the transaction, the insider now owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The disclosure for this sale can be found here. In the last three months, insiders sold 6,914 shares of company stock valued at $5,608,936. 0.25% of the stock is owned by corporate insiders.

ServiceNow Price Performance

Shares of NOW stock opened at $867.34 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $945.46. The firm has a fifty day moving average of $842.39 and a 200-day moving average of $777.97. The firm has a market capitalization of $177.80 billion, a price-to-earnings ratio of 92.76, a price-to-earnings-growth ratio of 5.55 and a beta of 0.98.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company’s revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 earnings per share. On average, equities research analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

ServiceNow Company Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.