TD Asset Management Inc Increases Stake in ServiceNow, Inc. $NOW

TD Asset Management Inc grew its position in shares of ServiceNow, Inc. (NYSE:NOW) by 385.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,047,549 shares of the information technology services provider’s stock after buying an additional 831,601 shares during the quarter. TD Asset Management Inc’s holdings in ServiceNow were worth $160,474,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new position in ServiceNow during the 4th quarter worth $2,020,992,000. Cohen Klingenstein LLC raised its position in ServiceNow by 400.0% during the 4th quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock worth $1,532,000 after buying an additional 8,000 shares during the last quarter. World Investment Advisors raised its position in ServiceNow by 411.7% during the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock worth $7,218,000 after buying an additional 38,583 shares during the last quarter. Moors & Cabot Inc. raised its position in ServiceNow by 387.7% during the 4th quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock worth $6,990,000 after buying an additional 36,274 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of ServiceNow by 385.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider’s stock worth $398,202,000 after purchasing an additional 2,064,440 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In related news, insider Paul Fipps sold 1,048 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total value of $103,238.48. Following the sale, the insider directly owned 12,072 shares of the company’s stock, valued at approximately $1,189,212.72. This represents a 7.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Anita M. Sands sold 16,445 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of the sale, the director directly owned 30,090 shares in the company, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 28,071 shares of company stock valued at $2,529,956 in the last quarter. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of ServiceNow from $195.00 to $145.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Jefferies Financial Group reaffirmed a “buy” rating and set a $135.00 price target (down from $175.00) on shares of ServiceNow in a research note on Thursday, April 23rd. Raymond James Financial lowered their price target on shares of ServiceNow from $160.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Citizens Jmp reaffirmed a “market outperform” rating and set a $157.00 price target on shares of ServiceNow in a research note on Tuesday, May 5th. Finally, Stifel Nicolaus lowered their price target on shares of ServiceNow from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $141.85.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: William Blair reiterated a Buy rating on ServiceNow, citing accelerating AI adoption, a model-agnostic architecture, and a path to $30 billion in revenue by 2030, which supports the stock’s valuation. Article Title
• Positive Sentiment: Analysts and commentary around EmployeeWorks suggest it could become a major growth driver, with rapid traction, larger deals, and broader enterprise AI adoption helping reinforce the bullish long-term thesis for NOW. Article Title
• Positive Sentiment: ServiceNow also announced a $2.5 million grant to City Year to support student success and workforce pathways, while expanding AI-enabled operational innovation—another signal that the company is using its platform to deepen enterprise and social impact. Article Title
• Neutral Sentiment: ServiceNow’s recent conference presentations and valuation-focused coverage kept the company in the spotlight, but these items were mostly reinforcing existing themes rather than introducing major new fundamentals.
• Negative Sentiment: Recent valuation discussion notes that NOW remains well below its highs and still faces questions after a mixed year of share-price performance, which may remind investors that the stock’s strong rally has already priced in a lot of optimism. Article Title

ServiceNow Price Performance

Shares of NYSE NOW opened at $119.53 on Friday. The stock has a market cap of $123.24 billion, a price-to-earnings ratio of 71.24, a PEG ratio of 1.95 and a beta of 0.94. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $211.48. The company’s 50-day moving average price is $99.29 and its 200 day moving average price is $122.10. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting analysts’ consensus estimates of $0.97. The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm’s revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.81 EPS. As a group, research analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.