TD Asset Management Inc Sells 19,475 Shares of ServiceNow, Inc. $NOW

TD Asset Management Inc decreased its holdings in ServiceNow, Inc. (NYSE:NOW) by 8.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 222,622 shares of the information technology services provider’s stock after selling 19,475 shares during the quarter. TD Asset Management Inc owned approximately 0.11% of ServiceNow worth $228,873,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Wilmington Savings Fund Society FSB raised its position in ServiceNow by 16.6% in the 2nd quarter. Wilmington Savings Fund Society FSB now owns 6,645 shares of the information technology services provider’s stock valued at $6,832,000 after purchasing an additional 948 shares during the last quarter. RFG Advisory LLC raised its position in shares of ServiceNow by 5.3% during the second quarter. RFG Advisory LLC now owns 4,893 shares of the information technology services provider’s stock worth $5,031,000 after acquiring an additional 247 shares during the last quarter. Perfromance Wealth Partners LLC raised its position in shares of ServiceNow by 9.6% during the second quarter. Perfromance Wealth Partners LLC now owns 1,130 shares of the information technology services provider’s stock worth $1,162,000 after acquiring an additional 99 shares during the last quarter. Naviter Wealth LLC raised its position in shares of ServiceNow by 4.1% during the second quarter. Naviter Wealth LLC now owns 2,234 shares of the information technology services provider’s stock worth $2,297,000 after acquiring an additional 88 shares during the last quarter. Finally, Axxcess Wealth Management LLC raised its position in shares of ServiceNow by 98.4% during the second quarter. Axxcess Wealth Management LLC now owns 1,488 shares of the information technology services provider’s stock worth $1,530,000 after acquiring an additional 738 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 1,762 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,526,684.90. Following the completion of the transaction, the chief financial officer directly owned 12,228 shares of the company’s stock, valued at approximately $10,594,950.60. The trade was a 12.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 5,825 shares of the business’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the transaction, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at approximately $6,062,590.82. The trade was a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,737 shares of company stock valued at $16,798,825. Insiders own 0.38% of the company’s stock.

ServiceNow Stock Up 3.9%

Shares of ServiceNow stock opened at $923.44 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The business has a fifty day simple moving average of $909.24 and a 200 day simple moving average of $933.88. The stock has a market cap of $192.07 billion, a PE ratio of 116.30, a price-to-earnings-growth ratio of 4.00 and a beta of 0.92.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the previous year, the firm earned $3.13 earnings per share. The firm’s quarterly revenue was up 22.4% compared to the same quarter last year. Research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

Wall Street Analyst Weigh In

NOW has been the subject of a number of recent research reports. Guggenheim restated a “sell” rating and set a $724.00 target price on shares of ServiceNow in a research report on Thursday, July 17th. Citigroup boosted their target price on ServiceNow from $1,160.00 to $1,234.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Oppenheimer restated an “outperform” rating and set a $1,150.00 target price (up previously from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. JMP Securities restated a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a research report on Monday, August 4th. Finally, BMO Capital Markets boosted their target price on ServiceNow from $1,150.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,121.37.

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.