TD Waterhouse Canada Inc. Lowers Stock Holdings in ServiceNow, Inc. $NOW

TD Waterhouse Canada Inc. cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 6.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,545 shares of the information technology services provider’s stock after selling 6,008 shares during the period. TD Waterhouse Canada Inc.’s holdings in ServiceNow were worth $9,261,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. CBIZ Investment Advisory Services LLC increased its stake in ServiceNow by 540.0% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after buying an additional 135 shares during the period. Blueline Advisors LLC purchased a new position in ServiceNow in the 4th quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC grew its stake in shares of ServiceNow by 560.0% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 140 shares in the last quarter. Wealth Watch Advisors INC grew its stake in shares of ServiceNow by 432.3% in the fourth quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 134 shares in the last quarter. Finally, Bank of Jackson Hole Trust increased its position in shares of ServiceNow by 534.6% during the fourth quarter. Bank of Jackson Hole Trust now owns 165 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 139 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow was selected as a “final trade” on CNBC’s Halftime Report, with the bullish case citing analyst support and the company’s opportunity to expand its AI offerings. Nvidia, ServiceNow, Spotify And A Financial Stock On CNBC’s Final Trades
• Positive Sentiment: ServiceNow gained alongside enterprise AI software peers as investor concerns that AI could weaken traditional seat-based software revenue eased. The broader sector rebound provided a favorable trading backdrop for NOW. Palantir Rallies 7% as PwC Alliance Counters Michael Burry Bear Case
• Positive Sentiment: Partner adoption is strengthening ServiceNow’s AI-platform narrative. Pricefx’s Deal Optimization App embeds AI pricing, negotiation, and recommendation tools into ServiceNow workflows, suggesting the platform is becoming an important distribution channel for enterprise AI applications. Is ServiceNow Quietly Becoming the Default AI Commerce Platform for Enterprise Partners?
• Neutral Sentiment: Analysts and investors remain selective within the software group. Although the sector has rebounded, commentary emphasizes that strong performance varies widely among companies, increasing scrutiny of ServiceNow’s valuation and growth durability. Software Stocks Are Back. 2 Winners, 2 Losers—and Salesforce
• Negative Sentiment: Reports of insider selling are weighing on sentiment and may be prompting investors to lock in gains after ServiceNow’s recent rally. Separate coverage also questioned whether the stock’s rapid advance has outpaced near-term fundamentals, making profit-taking a risk. ServiceNow Stock Price Down Following Insider Selling ServiceNow Just Rallied 28% in a Month: Take Profits, or Buy More?

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NOW. Robert W. Baird lifted their target price on ServiceNow from $118.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of ServiceNow in a research report on Monday, August 3rd. Sanford C. Bernstein reiterated an “outperform” rating and issued a $248.00 price objective (up from $236.00) on shares of ServiceNow in a research note on Thursday, July 23rd. Wells Fargo & Company reissued an “overweight” rating and set a $175.00 price objective (up from $160.00) on shares of ServiceNow in a research report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. upped their target price on shares of ServiceNow from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.24.

ServiceNow Stock Down 2.9%

Shares of NYSE NOW opened at $141.31 on Friday. The company has a market capitalization of $146.11 billion, a price-to-earnings ratio of 88.32, a price-to-earnings-growth ratio of 2.57 and a beta of 0.97. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. The business has a 50-day moving average of $117.21 and a two-hundred day moving average of $107.95. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $194.73.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The firm’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.81 earnings per share. On average, analysts forecast that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Paul Fipps sold 2,034 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $147.87, for a total value of $300,767.58. Following the transaction, the insider directly owned 18,305 shares of the company’s stock, valued at $2,706,760.35. This trade represents a 10.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jacqueline Canney sold 7,847 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $138.00, for a total transaction of $1,082,886.00. Following the completion of the sale, the insider directly owned 30,042 shares of the company’s stock, valued at approximately $4,145,796. This trade represents a 20.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 14,081 shares of company stock worth $1,937,904. Corporate insiders own 0.34% of the company’s stock.

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.