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

Toronto Dominion Bank reduced its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 14.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 101,833 shares of the information technology services provider's stock after selling 17,080 shares during the quarter. Toronto Dominion Bank's holdings in ServiceNow were worth $107,955,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of NOW. Quarry LP acquired a new stake in ServiceNow in the fourth quarter valued at about $27,000. Atala Financial Inc purchased a new position in shares of ServiceNow during the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of ServiceNow in the 4th quarter valued at approximately $32,000. Noble Wealth Management PBC purchased a new stake in shares of ServiceNow in the fourth quarter valued at approximately $34,000. Finally, FPC Investment Advisory Inc. grew its holdings in ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after acquiring an additional 29 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Stock Performance

ServiceNow stock opened at $1,040.22 on Friday. The firm has a market capitalization of $215.33 billion, a PE ratio of 152.30, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The stock's 50 day moving average price is $863.52 and its 200 day moving average price is $973.27. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

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

ServiceNow announced that its Board of Directors has initiated a stock buyback plan on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 2,404 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $980.05, for a total transaction of $2,356,040.20. Following the completion of the transaction, the insider now directly owns 6,244 shares of the company's stock, valued at $6,119,432.20. This trade represents a 27.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the completion of the sale, the insider now owns 3,649 shares in the company, valued at approximately $3,370,654.28. This trade represents a 44.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,872 shares of company stock valued at $13,261,400 in the last ninety days. Insiders own 0.38% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on NOW shares. Redburn Atlantic assumed coverage on shares of ServiceNow in a research report on Wednesday, February 19th. They set a "buy" rating on the stock. Barclays set a $1,085.00 target price on shares of ServiceNow in a research report on Wednesday, May 7th. Scotiabank set a $1,100.00 target price on shares of ServiceNow and gave the company an "outperform" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. decreased their price target on ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Finally, Raymond James dropped their price objective on ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ServiceNow presently has an average rating of "Moderate Buy" and an average target price of $1,062.50.

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.

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