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

CIBC Asset Management Inc lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 563.5% during the fourth quarter, Holdings Channel reports. 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 SEC filing.

A number of other large investors also recently made changes to their positions in NOW. IAG Wealth Partners LLC lifted its position in shares of ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 18 shares in the last quarter. Noble Wealth Management PBC lifted its position in shares of ServiceNow by 400.0% during the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 128 shares in the last quarter. Millstone Evans Group LLC lifted 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 valued at $25,000 after purchasing an additional 132 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its position in shares of ServiceNow by 540.0% during 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 purchasing an additional 135 shares in the last quarter. Finally, Blueline Advisors LLC bought a new stake in ServiceNow in the fourth quarter worth about $25,000. 87.18% of the stock is owned by institutional investors.

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

Wall Street Analysts Forecast Growth

Several analysts have commented on NOW shares. JPMorgan Chase & Co. lowered their price objective on shares of ServiceNow from $195.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Robert W. Baird lowered their price objective on shares of ServiceNow from $125.00 to $118.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Wolfe Research set a $125.00 price objective on shares of ServiceNow in a research report on Thursday, April 23rd. Morgan Stanley lowered their price objective 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. Finally, FBN Securities lowered their price objective on shares of ServiceNow from $160.00 to $120.00 in a research report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $141.85.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 8,927 shares of ServiceNow stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $89.60, for a total value 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 trade represents a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction dated 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 transaction, the insider owned 12,072 shares of the company’s stock, valued at $1,189,212.72. The trade was a 7.99% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 28,071 shares of company stock worth $2,529,956 over the last three months. Company insiders own 0.34% of the company’s stock.

ServiceNow Price Performance

NOW opened at $117.86 on Thursday. The company has a market capitalization of $121.51 billion, a price-to-earnings ratio of 70.24, a PEG ratio of 2.11 and a beta of 0.94. 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 has a 50-day moving average price of $98.99 and a 200-day moving average price of $122.45. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48.

ServiceNow (NYSE:NOW) last posted its earnings results 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 firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company’s revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the company earned $0.81 earnings per share. Equities analysts expect that ServiceNow, Inc. will post 2.35 EPS for the current year.

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.