TD Waterhouse Canada Inc. Grows Stock Position in ServiceNow, Inc. (NYSE:NOW)

TD Waterhouse Canada Inc. raised its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 81.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,895 shares of the information technology services provider's stock after buying an additional 7,146 shares during the period. TD Waterhouse Canada Inc.'s holdings in ServiceNow were worth $16,842,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Atala Financial Inc bought a new stake in ServiceNow during the 4th quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of ServiceNow in the 4th quarter valued at $32,000. FPC Investment Advisory Inc. increased its holdings in shares of 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 buying an additional 29 shares in the last quarter. Noble Wealth Management PBC bought a new position in ServiceNow in the 4th quarter valued at $34,000. Finally, Heck Capital Advisors LLC acquired a new position in ServiceNow during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 87.18% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Evercore ISI raised their target price on shares of ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a research note on Thursday. StockNews.com lowered shares of ServiceNow from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th. William Blair restated an "outperform" rating on shares of ServiceNow in a research note on Friday, March 7th. Wells Fargo & Company lifted their target price on ServiceNow from $1,100.00 to $1,150.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Mizuho dropped their price target on ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating for the company in a research note on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,032.94.

ServiceNow Stock Performance

Shares of NYSE NOW traded up $7.51 during midday trading on Friday, hitting $946.08. 2,886,240 shares of the company's stock traded hands, compared to its average volume of 1,511,780. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market capitalization of $195.84 billion, a price-to-earnings ratio of 138.52, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08. The firm has a fifty day moving average of $839.67 and a 200 day moving average of $967.34. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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

Insider Activity

In other news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total value of $2,720,355.40. Following the transaction, the insider now owns 3,649 shares of the company's stock, valued at approximately $3,370,654.28. The trade was a 44.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Gina Mastantuono sold 4,442 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the sale, the chief financial officer now directly owns 11,126 shares in the company, valued at $10,733,252.20. This trade represents a 28.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,250 shares of company stock valued at $19,853,273 in the last ninety days. Corporate insiders own 0.38% of the company's stock.

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.