ServiceNow (NYSE:NOW) Earns Sell Rating from Guggenheim

Guggenheim reissued their sell rating on shares of ServiceNow (NYSE:NOW) in a research report released on Monday, MarketBeat Ratings reports. The brokerage currently has a $640.00 price objective on the information technology services provider’s stock.

A number of other equities analysts have also issued reports on NOW. Stifel Nicolaus reaffirmed a buy rating and set a $820.00 target price on shares of ServiceNow in a research report on Tuesday, July 2nd. Needham & Company LLC reissued a buy rating and set a $900.00 target price on shares of ServiceNow in a research report on Monday. BMO Capital Markets cut their price target on ServiceNow from $850.00 to $830.00 and set an outperform rating for the company in a report on Thursday, April 25th. JMP Securities reissued a market outperform rating and set a $825.00 price objective on shares of ServiceNow in a report on Tuesday, May 7th. Finally, Morgan Stanley raised their target price on ServiceNow from $814.00 to $830.00 and gave the stock an overweight rating in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $812.60.

ServiceNow Stock Up 0.8 %

Shares of ServiceNow stock opened at $749.14 on Monday. ServiceNow has a 12-month low of $527.24 and a 12-month high of $815.32. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average price of $736.92 and a two-hundred day moving average price of $745.40. The stock has a market capitalization of $153.57 billion, a P/E ratio of 80.12, a PEG ratio of 4.80 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.41. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.59 billion. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. Equities analysts expect that ServiceNow will post 6.5 earnings per share for the current year.

Insider Activity at ServiceNow

In other news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $738.88, for a total value of $1,329,984.00. Following the completion of the sale, the chief financial officer now directly owns 13,290 shares of the company’s stock, valued at approximately $9,819,715.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $738.88, for a total value of $1,329,984.00. Following the sale, the chief financial officer now directly owns 13,290 shares in the company, valued at $9,819,715.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frederic B. Luddy sold 598 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $741.92, for a total transaction of $443,668.16. Following the completion of the transaction, the director now directly owns 428 shares of the company’s stock, valued at approximately $317,541.76. The disclosure for this sale can be found here. Insiders have sold 5,530 shares of company stock worth $3,997,012 over the last ninety days. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Institutional investors have recently added to or reduced their stakes in the stock. Argonautica Private Wealth Management Inc. boosted its position in ServiceNow by 1.0% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock worth $972,000 after acquiring an additional 13 shares during the last quarter. Wealth Management Partners LLC raised its stake in ServiceNow by 2.7% in the 4th quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock valued at $375,000 after acquiring an additional 14 shares during the period. Oliver Lagore Vanvalin Investment Group lifted its holdings in ServiceNow by 30.4% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 14 shares during the last quarter. Optas LLC boosted its position in ServiceNow by 1.7% during the first quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock worth $621,000 after purchasing an additional 14 shares during the period. Finally, Cedar Wealth Management LLC increased its holdings in shares of ServiceNow by 5.5% in the first quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock valued at $204,000 after purchasing an additional 14 shares during 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.