Cibc World Market Inc. Grows Stock Position in ServiceNow, Inc. $NOW

Key Points

• CIBC World Markets sharply increased its ServiceNow stake by 531.2% in the fourth quarter, ending with 238,355 shares valued at about $36.5 million.
• Insider selling picked up recently, with executives and a director selling shares worth about $2.53 million over the last three months.
• Analyst sentiment remains positive overall: ServiceNow has a consensus “Moderate Buy” rating and an average price target of $141.85, even though several firms trimmed their targets.

Cibc World Market Inc. boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 531.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 238,355 shares of the information technology services provider's stock after acquiring an additional 200,595 shares during the quarter. Cibc World Market Inc.'s holdings in ServiceNow were worth $36,514,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NOW. IAG Wealth Partners LLC boosted its stake in ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock worth $25,000 after buying an additional 18 shares during the period. Noble Wealth Management PBC lifted its stake in ServiceNow by 400.0% during the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 128 shares in the last quarter. Millstone Evans Group LLC boosted its position in shares of ServiceNow by 400.0% during the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider's stock worth $25,000 after buying an additional 132 shares during the period. CBIZ Investment Advisory Services LLC grew its stake in shares of ServiceNow by 540.0% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider's stock valued at $25,000 after buying an additional 135 shares in the last quarter. Finally, Blueline Advisors LLC acquired a new stake in shares of ServiceNow in the fourth quarter valued at $25,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 8,927 shares of the business's 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 sale, the insider owned 29,531 shares in the company, valued at approximately $2,645,977.60. The trade was a 23.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anita M. Sands sold 16,445 shares of the company's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of the transaction, the director owned 30,090 shares of the company's stock, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 28,071 shares of company stock worth $2,529,956 in the last three months. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on NOW. Raymond James Financial decreased their target price on ServiceNow from $160.00 to $130.00 and set an "outperform" rating on the stock in a research note on Thursday, April 23rd. Capital One Financial boosted their price target on shares of ServiceNow from $105.00 to $120.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 5th. BNP Paribas Exane raised shares of ServiceNow from a "neutral" rating to an "outperform" rating and set a $140.00 price objective for the company in a research note on Monday, March 16th. BMO Capital Markets dropped their price objective on shares of ServiceNow from $120.00 to $115.00 and set an "outperform" rating for the company in a report on Thursday, April 23rd. Finally, HSBC cut their target price on shares of ServiceNow from $226.00 to $171.00 and set a "buy" rating on the stock in a research note on Thursday, April 16th. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $141.85.

ServiceNow Stock Performance

NYSE:NOW opened at $119.53 on Friday. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $211.48. 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 market capitalization of $123.24 billion, a PE ratio of 71.24, a price-to-earnings-growth ratio of 1.95 and a beta of 0.94. The business's fifty day moving average price is $99.29 and its 200 day moving average price is $122.10.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data 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 return on equity of 18.16% and a net margin of 12.59%.The business had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.75 billion. During the same period in the prior year, the firm posted $0.81 EPS. The business's quarterly revenue was up 22.1% compared to the same quarter last year. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

ServiceNow News Summary

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 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.

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