ServiceNow (NYSE:NOW) Rating Reiterated by Guggenheim

Guggenheim reiterated their neutral rating on shares of ServiceNow (NYSE:NOW) in a report issued on Monday morning, Marketbeat Ratings reports.

Other equities analysts have also recently issued reports about the stock. Barclays upped their price target on shares of ServiceNow from $765.00 to $870.00 and gave the company an overweight rating in a research report on Tuesday, January 23rd. Mizuho increased their price objective on shares of ServiceNow from $750.00 to $820.00 and gave the stock a buy rating in a research report on Thursday, January 25th. Needham & Company LLC increased their price objective on shares of ServiceNow from $660.00 to $900.00 and gave the stock a buy rating in a research report on Monday, January 22nd. BMO Capital Markets increased their price objective on shares of ServiceNow from $630.00 to $850.00 and gave the stock an outperform rating in a research report on Thursday, January 25th. Finally, Stifel Nicolaus reiterated a buy rating and set a $820.00 price objective on shares of ServiceNow in a research report on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $780.00.

ServiceNow Trading Down 1.2 %

Shares of NYSE NOW opened at $735.68 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06. ServiceNow has a 52-week low of $427.68 and a 52-week high of $815.32. The firm has a 50 day moving average price of $767.53 and a two-hundred day moving average price of $700.42. The stock has a market cap of $151.09 billion, a P/E ratio of 87.48, a price-to-earnings-growth ratio of 4.65 and a beta of 0.97.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.34. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the prior year, the company posted $0.88 EPS. The company’s revenue was up 25.6% on a year-over-year basis. As a group, equities analysts forecast that ServiceNow will post 6.16 EPS for the current year.

Insider Buying and Selling

In related news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the transaction, the insider now directly owns 1,392 shares in the company, valued at $1,067,831.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PFG Private Wealth Management LLC purchased a new position in ServiceNow in the third quarter valued at about $28,000. University of Texas Texas AM Investment Managment Co. purchased a new position in ServiceNow in the fourth quarter valued at about $29,000. First Capital Advisors Group LLC. purchased a new position in ServiceNow in the second quarter valued at about $29,000. High Net Worth Advisory Group LLC purchased a new position in ServiceNow in the first quarter valued at about $29,000. Finally, AdvisorNet Financial Inc boosted its stake in ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 32 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

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.