CIBC Asset Management Inc Purchases 246,371 Shares of ServiceNow, Inc. $NOW

Key Points

• CIBC Asset Management Inc increased its ServiceNow stake by 563.5% in the fourth quarter, buying 246,371 additional shares and bringing its total holdings to 290,094 shares worth about $44.4 million.
• ServiceNow shares were down 7.7% in the session, with the stock opening at $117.86; the company’s market cap was about $121.5 billion and it was trading below its 200-day moving average.
• The company recently reported Q1 results that matched EPS estimates and slightly beat revenue expectations, with revenue up 22.1% year over year; analysts still view the stock as a Moderate Buy with a consensus price target of $141.85.

CIBC Asset Management Inc lifted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 563.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 290,094 shares of the information technology services provider's stock after acquiring an additional 246,371 shares during the period. CIBC Asset Management Inc's holdings in ServiceNow were worth $44,440,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in NOW. IAG Wealth Partners LLC lifted its holdings in shares of ServiceNow by 200.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 18 shares during the period. Noble Wealth Management PBC lifted its holdings in shares of ServiceNow by 400.0% during the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 128 shares during the period. Millstone Evans Group LLC lifted its holdings in shares of ServiceNow by 400.0% during the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 132 shares during the period. CBIZ Investment Advisory Services LLC lifted its holdings in shares of ServiceNow by 540.0% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 135 shares during the period. Finally, Blueline Advisors LLC bought a new stake in shares of ServiceNow during the 4th quarter worth approximately $25,000. Institutional investors own 87.18% of the company's stock.

ServiceNow Trading Down 7.7%

Shares of NYSE NOW opened at $117.86 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $211.48. The firm has a 50 day moving average price of $98.99 and a two-hundred day moving average price of $122.45. The stock has a market cap of $121.51 billion, a P/E ratio of 70.24, a price-to-earnings-growth ratio of 2.11 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting the consensus estimate of $0.97. The company 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%. ServiceNow's revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.81 earnings per share. As a group, equities analysts forecast that ServiceNow, Inc. will post 2.35 EPS for the current year.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow highlighted its AI and workflow automation story in two conference appearances at the Bank of America 2026 Global Technology Conference and the William Blair Growth Stock Conference, reinforcing the company’s growth narrative and product momentum. ServiceNow, Inc. (NOW) Presents at Bank of America 2026 Global Technology Conference Transcript
• Positive Sentiment: A MarketBeat piece argued that AI spending is benefiting ServiceNow as part of a broader “nuts and bolts” enterprise AI buildout, which supports the bull case for the stock. Marvell’s AI Moment Raises a Bigger Question for Amazon and ServiceNow (NOW)
• Positive Sentiment: Several recent articles framed ServiceNow as an attractive AI leader trading at a discount or as a stock the market may be underestimating, which could encourage dip-buying. ServiceNow: The Ultimate AI Control Tower Trading At A Discount
• Positive Sentiment: ServiceNow announced a $2.5 million grant to City Year to expand student success and AI-enabled operations, adding to the company’s reputation for strategic AI investment and community partnerships. City Year Receives $2.5M Grant from ServiceNow to Power Student Success and Build Future-Ready Talent Pipelines
• Positive Sentiment: The company deepened its Everbridge xMatters partnership to enhance AI-driven incident response and workflow orchestration, a move that may support future enterprise demand. ServiceNow Deepens Everbridge xMatters AI Ties In Critical Workflows
• Neutral Sentiment: Several new articles compared ServiceNow with peers like Salesforce, Palantir, and Intuit, keeping the stock in focus but not adding a clear new catalyst by themselves. Salesforce vs. ServiceNow: 1 AI Giant Is Leaving the Other Behind
• Negative Sentiment: ServiceNow also appeared in a wave of bearish commentary questioning SaaS valuations and arguing the stock may be less appealing after its sharp run-up, which can weigh on sentiment. ServiceNow: The More I Look, The Less Appealing It Feels
• Negative Sentiment: A broader software-sector selloff tied to AI uncertainty also hurt sentiment toward ServiceNow and other enterprise software names. Software stocks whipsaw amid AI fears, as Anthropic IPO looms

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of the firm's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the transaction, the director directly owned 30,090 shares of the company's stock, valued at approximately $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul Edward Chamberlain sold 1,500 shares of the firm's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the transaction, the director directly owned 44,930 shares in the company, valued at $3,919,243.90. This trade represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,071 shares of company stock valued at $2,529,956 over the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NOW has been the subject of several research reports. Barclays reissued an "overweight" rating and issued a $134.00 price objective (up from $132.00) on shares of ServiceNow in a research note on Tuesday, May 5th. Evercore increased their price objective on shares of ServiceNow from $140.00 to $150.00 and gave the company an "outperform" rating in a research note on Tuesday, May 5th. JPMorgan Chase & Co. dropped their price objective on shares of ServiceNow from $195.00 to $145.00 and set an "overweight" rating for the company in a research note on Thursday, April 23rd. Sanford C. Bernstein reissued an "outperform" rating and issued a $236.00 price objective (up from $226.00) on shares of ServiceNow in a research note on Wednesday, May 6th. Finally, Citizens Jmp reissued a "market outperform" rating and issued a $157.00 price objective on shares of ServiceNow in a research note on Tuesday, May 5th. 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 stock. Based on data from MarketBeat, ServiceNow presently has a consensus rating of "Moderate Buy" and a consensus price target of $141.85.

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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