CIBC Asset Management Inc Has $41.96 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

CIBC Asset Management Inc trimmed its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,910 shares of the information technology services provider's stock after selling 589 shares during the quarter. CIBC Asset Management Inc's holdings in ServiceNow were worth $41,956,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Creekmur Asset Management LLC purchased a new position in ServiceNow in the first quarter valued at about $25,000. Versant Capital Management Inc raised its position in ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider's stock worth $27,000 after acquiring an additional 28 shares during the last quarter. EntryPoint Capital LLC lifted its holdings in shares of ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider's stock valued at $30,000 after purchasing an additional 39 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in shares of ServiceNow in the second quarter valued at approximately $32,000. Finally, DT Investment Partners LLC raised its holdings in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider's stock worth $35,000 after acquiring an additional 17 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

Shares of NYSE:NOW traded down $30.03 during midday trading on Friday, hitting $1,009.77. The company's stock had a trading volume of 966,385 shares, compared to its average volume of 1,278,735. The stock's 50 day simple moving average is $928.75 and its 200 day simple moving average is $821.23. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,061.66. The stock has a market capitalization of $208.01 billion, a price-to-earnings ratio of 159.03, a PEG ratio of 6.00 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter last year, the firm earned $1.21 EPS. ServiceNow's revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, research analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on NOW. Citigroup lifted their target price on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. JPMorgan Chase & Co. increased their price objective on shares of ServiceNow from $820.00 to $950.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Mizuho raised their price objective on ServiceNow from $850.00 to $980.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft increased their target price on ServiceNow from $875.00 to $900.00 and gave the company a "buy" rating in a research note on Thursday, July 25th. Finally, Truist Financial boosted their price target on ServiceNow from $780.00 to $900.00 and gave the stock a "hold" rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the company's stock. Based on data from MarketBeat, ServiceNow has a consensus rating of "Moderate Buy" and an average target price of $974.04.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 66 shares of the business's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the transaction, the insider now owns 3,027 shares of the company's stock, valued at $3,173,173.83. The trade was a 2.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey A. Miller sold 2,879 shares of the company's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the completion of the transaction, the director now directly owns 42,920 shares of the company's stock, valued at approximately $43,740,630.40. The trade was a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,325 shares of company stock valued at $5,024,928. 0.25% of the stock is currently owned by insiders.

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.