ServiceNow (NYSE:NOW) Stock Rating Reaffirmed by Guggenheim

Guggenheim reaffirmed their neutral rating on shares of ServiceNow (NYSE:NOW) in a research note issued to investors on Monday, Marketbeat reports.

A number of other research firms have also weighed in on NOW. KeyCorp assumed coverage on ServiceNow in a research note on Thursday, March 21st. They set an overweight rating and a $1,000.00 price objective for the company. Citigroup increased their price objective on ServiceNow from $862.00 to $896.00 and gave the stock a buy rating in a report on Friday, January 26th. UBS Group raised their price target on ServiceNow from $865.00 to $885.00 and gave the company a buy rating in a report on Thursday, January 25th. Truist Financial raised their price target on ServiceNow from $700.00 to $750.00 and gave the company a hold rating in a report on Thursday, January 25th. Finally, Needham & Company LLC lifted their price objective on ServiceNow from $660.00 to $900.00 and gave the stock a buy rating in a report on Monday, January 22nd. Three analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $780.37.

ServiceNow Stock Down 0.7 %

Shares of NOW opened at $731.47 on Monday. The firm has a market cap of $150.23 billion, a P/E ratio of 86.98, a P/E/G ratio of 4.71 and a beta of 0.97. The stock has a 50 day simple moving average of $766.17 and a two-hundred day simple moving average of $700.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. ServiceNow has a 1 year low of $427.68 and a 1 year high of $815.32.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 11.85% and a net margin of 19.30%. ServiceNow’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 earnings per share. On average, analysts forecast that ServiceNow will post 6.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Paul John Smith sold 5,159 shares of the stock in a transaction on 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 completion of the sale, the insider now owns 5,453 shares in the company, valued at approximately $4,064,229.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the 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 owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders sold a total of 13,164 shares of company stock worth $9,940,303 over the last 90 days. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

Several hedge funds have recently made changes to their positions in the company. RB Capital Management LLC grew its position in ServiceNow by 25.2% during the 1st quarter. RB Capital Management LLC now owns 954 shares of the information technology services provider’s stock worth $531,000 after purchasing an additional 192 shares during the period. Zions Bancorporation N.A. grew its position in ServiceNow by 17.9% during the 1st quarter. Zions Bancorporation N.A. now owns 875 shares of the information technology services provider’s stock worth $487,000 after purchasing an additional 133 shares during the period. Brown Brothers Harriman & Co. grew its position in ServiceNow by 728.0% during the 1st quarter. Brown Brothers Harriman & Co. now owns 1,921 shares of the information technology services provider’s stock worth $1,070,000 after purchasing an additional 1,689 shares during the period. Parkside Financial Bank & Trust grew its position in ServiceNow by 9.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 350 shares of the information technology services provider’s stock worth $195,000 after purchasing an additional 29 shares during the period. Finally, NewEdge Advisors LLC grew its position in ServiceNow by 0.7% during the 1st quarter. NewEdge Advisors LLC now owns 11,671 shares of the information technology services provider’s stock worth $6,499,000 after purchasing an additional 86 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

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.