Cibc World Market Inc. Boosts Stake in ServiceNow, Inc. $NOW

Cibc World Market Inc. lifted its position in ServiceNow, Inc. (NYSE:NOW) by 531.2% in the fourth quarter, Holdings Channel reports. The firm owned 238,355 shares of the information technology services provider’s stock after acquiring an additional 200,595 shares during the period. Cibc World Market Inc.’s holdings in ServiceNow were worth $36,514,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC lifted its stake in ServiceNow by 200.0% in the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 18 shares during the last quarter. Wealth Watch Advisors INC purchased a new position in shares of ServiceNow during the third quarter worth approximately $29,000. Texas Capital Bancshares Inc TX acquired a new position in shares of ServiceNow in the 3rd quarter valued at $37,000. Ameriflex Group Inc. increased its holdings in shares of ServiceNow by 187.5% in the 3rd quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider’s stock valued at $42,000 after acquiring an additional 30 shares during the period. Finally, Kelleher Financial Advisors purchased a new stake in ServiceNow in the 3rd quarter valued at $50,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: William Blair reiterated a Buy rating on ServiceNow, citing accelerating AI adoption, a model-agnostic architecture, and a path to $30 billion in revenue by 2030, which supports the stock’s valuation. Article Title
• Positive Sentiment: Analysts and commentary around EmployeeWorks suggest it could become a major growth driver, with rapid traction, larger deals, and broader enterprise AI adoption helping reinforce the bullish long-term thesis for NOW. Article Title
• Positive Sentiment: ServiceNow also announced a $2.5 million grant to City Year to support student success and workforce pathways, while expanding AI-enabled operational innovation—another signal that the company is using its platform to deepen enterprise and social impact. Article Title
• Neutral Sentiment: ServiceNow’s recent conference presentations and valuation-focused coverage kept the company in the spotlight, but these items were mostly reinforcing existing themes rather than introducing major new fundamentals.
• Negative Sentiment: Recent valuation discussion notes that NOW remains well below its highs and still faces questions after a mixed year of share-price performance, which may remind investors that the stock’s strong rally has already priced in a lot of optimism. Article Title

ServiceNow Stock Up 1.4%

Shares of NYSE:NOW opened at $119.53 on Friday. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $211.48. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The firm’s 50-day simple moving average is $99.29 and its 200-day simple moving average is $122.10. The company has a market cap of $123.24 billion, a price-to-earnings ratio of 71.24, a PEG ratio of 1.95 and a beta of 0.94.

ServiceNow (NYSE:NOW) last posted its quarterly 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. The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.81 earnings per share. As a group, equities research analysts predict that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Analyst Ratings Changes

NOW has been the subject of a number of recent research reports. Citic Securities decreased their price target on shares of ServiceNow from $168.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, May 21st. Wall Street Zen cut shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Citizens Jmp reiterated a “market outperform” rating and set a $157.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. Bank of America began coverage on ServiceNow in a report on Monday, May 18th. They set a “buy” rating and a $130.00 price target on the stock. Finally, Robert W. Baird reduced their price objective on ServiceNow from $125.00 to $118.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $141.85.

Insiders Place Their Bets

In other news, insider Paul Fipps sold 1,048 shares of the firm’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 value of $103,238.48. Following the completion of the sale, the insider directly owned 12,072 shares of the company’s stock, valued at $1,189,212.72. This trade represents a 7.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the sale, the director owned 44,930 shares in the company, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 28,071 shares of company stock valued at $2,529,956. Corporate insiders own 0.34% of the company’s stock.

ServiceNow Company Profile

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.