Toronto Dominion Bank Sells 6,547 Shares of ServiceNow, Inc. (NYSE:NOW)

Toronto Dominion Bank cut its stake in ServiceNow, Inc. (NYSE:NOW) by 5.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 118,913 shares of the information technology services provider’s stock after selling 6,547 shares during the quarter. Toronto Dominion Bank’s holdings in ServiceNow were worth $106,355,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NOW. NorthCrest Asset Manangement LLC grew its stake in ServiceNow by 2.0% during the second quarter. NorthCrest Asset Manangement LLC now owns 1,057 shares of the information technology services provider’s stock valued at $832,000 after acquiring an additional 21 shares in the last quarter. ORG Partners LLC boosted its holdings in shares of ServiceNow by 1,623.8% in the 2nd quarter. ORG Partners LLC now owns 724 shares of the information technology services provider’s stock worth $571,000 after purchasing an additional 682 shares in the last quarter. Redhawk Wealth Advisors Inc. increased its position in shares of ServiceNow by 4.4% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 453 shares of the information technology services provider’s stock valued at $356,000 after purchasing an additional 19 shares during the last quarter. 180 Wealth Advisors LLC raised its holdings in shares of ServiceNow by 4.2% during the 2nd quarter. 180 Wealth Advisors LLC now owns 1,277 shares of the information technology services provider’s stock valued at $957,000 after buying an additional 51 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft boosted its stake in ServiceNow by 55.5% in the second quarter. Baader Bank Aktiengesellschaft now owns 1,337 shares of the information technology services provider’s stock worth $1,047,000 after buying an additional 477 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Price Performance

Shares of NOW opened at $1,128.51 on Wednesday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,147.37. The company has a market capitalization of $232.47 billion, a P/E ratio of 175.51, a price-to-earnings-growth ratio of 6.45 and a beta of 0.99. The firm has a 50 day moving average of $987.03 and a 200 day moving average of $861.55. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating 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 analysts’ expectations of $2.75 billion. During the same period last year, the firm posted $1.21 earnings per share. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 300 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the completion of the sale, the director now directly owns 10,467 shares in the company, valued at $10,968,892.65. The trade was a 2.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Anita M. Sands sold 2,229 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the completion of the transaction, the director now owns 11,000 shares in the company, valued at $11,710,600. This trade represents a 16.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,629 shares of company stock worth $20,861,626 over the last three months. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on NOW shares. BMO Capital Markets lifted their price target on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. TD Cowen lifted their target price on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Tuesday. Mizuho upped their price target on shares of ServiceNow from $980.00 to $1,070.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Piper Sandler lifted their price objective on ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, KeyCorp raised their price target on ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,022.37.

ServiceNow 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.