TD Asset Management Inc. increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 15.5% during the second quarter, Holdings Channel reports. The firm owned 328,849 shares of the information technology services provider’s stock after buying an additional 44,054 shares during the period. TD Asset Management Inc.’s holdings in ServiceNow were worth $34,858,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in NOW. LS Investment Advisors LLC raised its stake in ServiceNow by 3.6% in the second quarter. LS Investment Advisors LLC now owns 1,738 shares of the information technology services provider’s stock worth $184,000 after buying an additional 61 shares during the period. Nordea Investment Management AB raised its stake in ServiceNow by 2.5% in the first quarter. Nordea Investment Management AB now owns 3,567 shares of the information technology services provider’s stock worth $312,000 after buying an additional 88 shares during the period. Janney Montgomery Scott LLC raised its stake in ServiceNow by 1.4% in the first quarter. Janney Montgomery Scott LLC now owns 6,794 shares of the information technology services provider’s stock worth $594,000 after buying an additional 93 shares during the period. Crow Point Partners LLC raised its stake in ServiceNow by 8.8% in the second quarter. Crow Point Partners LLC now owns 1,320 shares of the information technology services provider’s stock worth $140,000 after buying an additional 107 shares during the period. Finally, Pacer Advisors Inc. raised its stake in ServiceNow by 3.2% in the first quarter. Pacer Advisors Inc. now owns 3,501 shares of the information technology services provider’s stock worth $306,000 after buying an additional 110 shares during the period. 97.53% of the stock is owned by hedge funds and other institutional investors.

ServiceNow, Inc. (NYSE:NOW) opened at 107.33 on Thursday. The company’s market capitalization is $18.29 billion. ServiceNow, Inc. has a one year low of $71.25 and a one year high of $115.85. The stock’s 50 day moving average price is $108.36 and its 200 day moving average price is $96.82.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The firm had revenue of $471.70 million during the quarter, compared to analysts’ expectations of $462.11 million. ServiceNow had a negative return on equity of 30.72% and a negative net margin of 10.17%. The firm’s quarterly revenue was up 38.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 EPS. Equities analysts anticipate that ServiceNow, Inc. will post $1.17 EPS for the current fiscal year.

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A number of brokerages recently commented on NOW. OTR Global lowered ServiceNow to a “positive” rating in a research note on Friday, July 14th. TheStreet raised ServiceNow from a “d” rating to a “c-” rating in a research note on Wednesday, July 26th. Barclays PLC raised their price target on ServiceNow from $120.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $110.00 price target (up previously from $93.00) on shares of ServiceNow in a research note on Thursday, July 27th. Finally, Raymond James Financial, Inc. raised their price target on ServiceNow from $110.00 to $126.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 27th. Eight research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $115.96.

In related news, CRO David Schneider sold 2,243 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $97.04, for a total transaction of $217,660.72. Following the completion of the sale, the executive now directly owns 47,654 shares in the company, valued at approximately $4,624,344.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank Slootman sold 252,211 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $109.19, for a total value of $27,538,919.09. Following the sale, the director now owns 356,287 shares of the company’s stock, valued at $38,902,977.53. The disclosure for this sale can be found here. Insiders have sold a total of 731,884 shares of company stock valued at $79,049,745 over the last 90 days. 3.30% of the stock is currently owned by company insiders.

About ServiceNow

ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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