ServiceNow (NYSE:NOW) Earns Neutral Rating from Guggenheim

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

A number of other analysts have also weighed in on the stock. JMP Securities raised their price target on shares of ServiceNow from $665.00 to $825.00 and gave the company a market outperform rating in a report on Monday, January 22nd. Royal Bank of Canada raised their price target on shares of ServiceNow from $840.00 to $850.00 and gave the company an outperform rating in a report on Thursday, January 25th. Jefferies Financial Group lifted their target price on shares of ServiceNow from $885.00 to $900.00 and gave the stock a buy rating in a report on Wednesday, April 10th. Citigroup lifted their target price on shares of ServiceNow from $862.00 to $896.00 and gave the stock a buy rating in a report on Friday, January 26th. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $820.00 target price on shares of ServiceNow in a report on Wednesday, March 20th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow currently has an average rating of Moderate Buy and a consensus price target of $780.00.

ServiceNow Stock Performance

NYSE NOW opened at $735.68 on Monday. The firm has a market cap of $151.09 billion, a price-to-earnings ratio of 87.48, a PEG ratio of 4.65 and a beta of 0.97. The company has a 50 day moving average of $767.53 and a 200-day moving average of $700.42. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. ServiceNow has a 1-year low of $427.68 and a 1-year high of $815.32.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. ServiceNow’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.88 earnings per share. On average, equities analysts forecast that ServiceNow will post 6.16 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 5,159 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the sale, the insider now directly owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul John Smith sold 5,159 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the sale, the insider now directly owns 5,453 shares in the company, valued at $4,064,229.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,164 shares of company stock valued at $9,940,303. 0.25% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ServiceNow

Several institutional investors and hedge funds have recently added to or reduced their stakes in NOW. Norges Bank bought a new stake in ServiceNow during the 4th quarter worth about $1,648,259,000. Moneta Group Investment Advisors LLC lifted its position in ServiceNow by 69,897.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 856,069 shares of the information technology services provider’s stock worth $332,386,000 after buying an additional 854,846 shares in the last quarter. International Assets Investment Management LLC lifted its position in ServiceNow by 69,354.6% during the 4th quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock worth $580,486,000 after buying an additional 820,465 shares in the last quarter. FMR LLC lifted its position in ServiceNow by 17.3% during the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after buying an additional 595,697 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in ServiceNow by 129.4% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 994,367 shares of the information technology services provider’s stock worth $386,082,000 after buying an additional 560,908 shares in the last quarter. 87.18% of the stock is owned by 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.