TD Private Client Wealth LLC Sells 383 Shares of ServiceNow, Inc. $NOW

Key Points

• TD Private Client Wealth LLC reduced its holding in ServiceNow, Inc. by 9.4% in the second quarter, selling 383 shares and retaining a total of 3,689 shares valued at approximately $3.79 million.
• Institutional investors own 87.18% of ServiceNow's stock, with significant increases in holdings from GAMMA Investing LLC and OVERSEA CHINESE BANKING Corp Ltd during the first quarter.
• ServiceNow received multiple favorable price target adjustments from analysts, with estimates ranging from $1,100.00 to $1,250.00 and a general consensus rating of "Moderate Buy."

TD Private Client Wealth LLC trimmed its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 9.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,689 shares of the information technology services provider's stock after selling 383 shares during the quarter. TD Private Client Wealth LLC's holdings in ServiceNow were worth $3,793,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of ServiceNow by 87,501.3% during the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock worth $2,141,108,000 after purchasing an additional 2,686,291 shares during the period. Nuveen LLC bought a new position in ServiceNow during the 1st quarter worth $1,817,535,000. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in ServiceNow by 1,586.5% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider's stock valued at $742,965,000 after acquiring an additional 877,875 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of ServiceNow by 131.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider's stock valued at $1,178,706,000 after acquiring an additional 840,731 shares during the period. Finally, Parnassus Investments LLC acquired a new stake in shares of ServiceNow during the 1st quarter worth $519,806,000. Institutional investors and hedge funds own 87.18% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. FBN Securities raised ServiceNow to a "strong-buy" rating in a research note on Wednesday, June 11th. Mizuho upped their price target on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Thursday, June 12th. Jefferies Financial Group lifted their price objective on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. DA Davidson upped their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, UBS Group decreased their price target on ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating on the stock in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,122.20.

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 1,562 shares of ServiceNow stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,353,394.90. Following the sale, the insider directly owned 3,027 shares in the company, valued at $2,622,744.15. This trade represents a 34.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the completion of the transaction, the insider owned 3,000 shares of the company's stock, valued at approximately $2,599,350. This trade represents a 36.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,976 shares of company stock valued at $17,049,775 over the last three months. Insiders own 0.38% of the company's stock.

ServiceNow Stock Up 0.6%

Shares of NYSE:NOW opened at $932.85 on Thursday. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The company has a market capitalization of $194.03 billion, a PE ratio of 117.49, a price-to-earnings-growth ratio of 4.18 and a beta of 0.91. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The company has a fifty day moving average of $921.07 and a 200-day moving average of $924.60.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share 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 for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the previous year, the company posted $3.13 EPS. ServiceNow's quarterly revenue was up 22.4% compared to the same quarter last year. On average, equities analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

About ServiceNow

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.

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