ServiceNow’s (NOW) “Sell” Rating Reiterated at Guggenheim

Guggenheim restated their sell rating on shares of ServiceNow (NYSE:NOWFree Report) in a research note published on Monday morning, MarketBeat.com reports. They currently have a $640.00 price objective on the information technology services provider’s stock.

Other research analysts have also recently issued research reports about the stock. JMP Securities reissued a market outperform rating and set a $825.00 target price on shares of ServiceNow in a report on Tuesday, May 7th. StockNews.com cut shares of ServiceNow from a buy rating to a hold rating in a report on Friday, April 26th. Robert W. Baird lifted their price objective on shares of ServiceNow from $870.00 to $885.00 and gave the company an outperform rating in a report on Tuesday, May 7th. UBS Group cut their price objective on shares of ServiceNow from $920.00 to $875.00 and set a buy rating for the company in a report on Thursday, April 25th. Finally, Wells Fargo & Company lifted their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company an overweight rating in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $812.60.

Check Out Our Latest Report on ServiceNow

ServiceNow Trading Down 0.2 %

Shares of ServiceNow stock opened at $742.80 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a fifty day moving average price of $735.85 and a 200 day moving average price of $745.37. ServiceNow has a 1 year low of $527.24 and a 1 year high of $815.32. The stock has a market cap of $152.27 billion, a PE ratio of 79.44, a price-to-earnings-growth ratio of 4.80 and a beta of 0.99.

ServiceNow (NYSE:NOWGet Free Report) last issued its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Equities research analysts predict that ServiceNow will post 6.5 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the transaction, the insider now directly owns 15,892 shares in the company, valued at $11,124,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ServiceNow news, insider Paul John Smith sold 125 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $727.38, for a total value of $90,922.50. Following the transaction, the insider now directly owns 3,112 shares in the company, valued at approximately $2,263,606.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the transaction, the insider now owns 15,892 shares in the company, valued at $11,124,400. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,530 shares of company stock worth $3,997,012. 0.25% of the stock is owned by insiders.

Hedge Funds Weigh In On ServiceNow

Several institutional investors and hedge funds have recently bought and sold shares of the company. Csenge Advisory Group boosted its holdings in ServiceNow by 8.3% in the 2nd quarter. Csenge Advisory Group now owns 860 shares of the information technology services provider’s stock valued at $677,000 after purchasing an additional 66 shares during the last quarter. Valeo Financial Advisors LLC boosted its holdings in ServiceNow by 1.8% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,053 shares of the information technology services provider’s stock valued at $1,615,000 after purchasing an additional 36 shares during the last quarter. CGN Advisors LLC acquired a new position in shares of ServiceNow in the 2nd quarter worth approximately $1,031,000. Westwind Capital acquired a new position in shares of ServiceNow in the 2nd quarter worth approximately $18,121,000. Finally, NBC Securities Inc. lifted its holdings in shares of ServiceNow by 24.7% in the 2nd quarter. NBC Securities Inc. now owns 3,096 shares of the information technology services provider’s stock worth $2,435,000 after acquiring an additional 613 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

About ServiceNow

(Get Free Report)

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.

Further Reading

Analyst Recommendations for ServiceNow (NYSE:NOW)

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