Toronto Dominion Bank Trims Holdings in ServiceNow, Inc. (NYSE:NOW)

Toronto Dominion Bank reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 13.3% in the second quarter, Holdings Channel reports. The firm owned 125,460 shares of the information technology services provider’s stock after selling 19,315 shares during the period. Toronto Dominion Bank’s holdings in ServiceNow were worth $98,696,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in ServiceNow by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after buying an additional 331,797 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in ServiceNow by 18.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock worth $1,239,198,000 after purchasing an additional 271,153 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in ServiceNow by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock worth $1,203,157,000 after purchasing an additional 34,855 shares during the period. Fisher Asset Management LLC raised its position in ServiceNow by 7.5% during the 4th quarter. Fisher Asset Management LLC now owns 1,448,448 shares of the information technology services provider’s stock valued at $1,023,315,000 after purchasing an additional 101,485 shares in the last quarter. Finally, Swedbank AB lifted its stake in ServiceNow by 10.3% in the second quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock worth $1,021,666,000 after acquiring an additional 120,983 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the transaction, the insider now directly owns 4,019 shares in the company, valued at approximately $3,319,372.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the sale, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. The disclosure for this sale can be found here. Insiders sold 6,914 shares of company stock worth $5,608,936 over the last three months. Company insiders own 0.25% of the company’s stock.

ServiceNow Trading Down 0.2 %

Shares of NYSE:NOW opened at $923.60 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $945.46. The stock has a market cap of $190.26 billion, a price-to-earnings ratio of 98.78, a PEG ratio of 5.55 and a beta of 0.98. The business has a 50-day moving average price of $828.97 and a 200-day moving average price of $773.93.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. ServiceNow’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period last year, the firm posted $0.77 EPS. Equities analysts predict that ServiceNow, Inc. will post 6.78 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on NOW. Guggenheim restated a “sell” rating and issued a $640.00 price target on shares of ServiceNow in a report on Monday, July 8th. BMO Capital Markets upped their target price on ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. lifted their price target on ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Truist Financial upped their price objective on ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Finally, TD Cowen lifted their target price on ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $855.44.

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.