ServiceNow (NYSE:NOW) Earns “Sell” Rating from Guggenheim

ServiceNow (NYSE:NOW)‘s stock had its “sell” rating reissued by equities research analysts at Guggenheim in a report issued on Wednesday,Benzinga reports. They currently have a $716.00 price target on the information technology services provider’s stock. Guggenheim’s price objective would suggest a potential downside of 36.77% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Sanford C. Bernstein upped their price objective on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Raymond James started coverage on ServiceNow in a research note on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price objective on the stock. Royal Bank of Canada boosted their target price on shares of ServiceNow from $1,045.00 to $1,210.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Cantor Fitzgerald initiated coverage on shares of ServiceNow in a research report on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 price target on the stock. Finally, Piper Sandler boosted their price objective on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,093.34.

ServiceNow Stock Up 0.6 %

Shares of NYSE:NOW opened at $1,132.30 on Wednesday. ServiceNow has a 12-month low of $637.99 and a 12-month high of $1,157.90. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a market cap of $233.25 billion, a PE ratio of 176.10, a price-to-earnings-growth ratio of 4.98 and a beta of 0.99. The company has a fifty day simple moving average of $1,072.95 and a 200 day simple moving average of $938.64.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.21 EPS. On average, equities research analysts anticipate that ServiceNow will post 7.04 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, insider Nicholas Tzitzon sold 313 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,884,725.40. The trade was a 7.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,731 shares of company stock valued at $21,016,751 in the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ServiceNow

A number of hedge funds have recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new position in shares of ServiceNow during the 3rd quarter worth $30,000. Heck Capital Advisors LLC acquired a new position in ServiceNow during the fourth quarter worth $37,000. DT Investment Partners LLC raised its holdings in ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares in the last quarter. Oakworth Capital Inc. lifted its position in shares of ServiceNow by 46.7% in the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after buying an additional 14 shares during the last quarter. Finally, Synergy Asset Management LLC bought a new stake in shares of ServiceNow during the 4th quarter worth about $50,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Company Profile

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.