Toronto Dominion Bank Has $107.96 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Toronto Dominion Bank lowered its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 14.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 101,833 shares of the information technology services provider's stock after selling 17,080 shares during the period. Toronto Dominion Bank's holdings in ServiceNow were worth $107,955,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NOW. Formidable Asset Management LLC acquired a new stake in ServiceNow during the 4th quarter worth $233,000. Cache Advisors LLC bought a new stake in ServiceNow in the 4th quarter valued at $652,000. GF Fund Management CO. LTD. bought a new position in ServiceNow in the fourth quarter valued at $58,865,000. Hudson Value Partners LLC raised its holdings in ServiceNow by 2.8% during the fourth quarter. Hudson Value Partners LLC now owns 1,393 shares of the information technology services provider's stock worth $1,477,000 after acquiring an additional 38 shares in the last quarter. Finally, GTS Securities LLC grew its stake in ServiceNow by 116.2% in the fourth quarter. GTS Securities LLC now owns 2,967 shares of the information technology services provider's stock valued at $3,145,000 after purchasing an additional 21,271 shares in the last quarter. Institutional investors own 87.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NOW. William Blair reaffirmed an "outperform" rating on shares of ServiceNow in a report on Friday, March 7th. Mizuho decreased their price target on shares of ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 11th. Bank of America decreased their price target on shares of ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Evercore ISI upped their price target on shares of ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, Raymond James decreased their target price on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,062.50.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Deborah Black sold 598 shares of ServiceNow stock in a transaction on Friday, April 25th. The shares were sold at an average price of $940.23, for a total value of $562,257.54. Following the completion of the sale, the director now directly owns 428 shares of the company's stock, valued at approximately $402,418.44. The trade was a 58.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 66 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total value of $67,518.00. Following the completion of the sale, the insider now owns 3,027 shares of the company's stock, valued at approximately $3,096,621. This represents a 2.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,674 shares of company stock valued at $2,510,213. 0.38% of the stock is currently owned by insiders.

ServiceNow Price Performance

NYSE:NOW traded up $23.33 on Tuesday, hitting $1,027.70. The company had a trading volume of 1,101,587 shares, compared to its average volume of 1,526,928. The stock has a market capitalization of $212.72 billion, a price-to-earnings ratio of 150.47, a PEG ratio of 4.51 and a beta of 0.97. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average of $884.98 and a two-hundred day moving average of $974.97. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the previous year, the business earned $3.41 EPS. The business's quarterly revenue was up 18.6% compared to the same quarter last year. On average, research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its Board of Directors has initiated a share repurchase plan on Wednesday, January 29th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

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.