Guggenheim Reiterates “Neutral” Rating for ServiceNow (NYSE:NOW)

Guggenheim reiterated their neutral rating on shares of ServiceNow (NYSE:NOW) in a report published on Monday, MarketBeat.com reports.

NOW has been the topic of a number of other research reports. Piper Sandler boosted their price objective on ServiceNow from $750.00 to $830.00 and gave the stock an overweight rating in a research note on Thursday, January 25th. BMO Capital Markets lifted their price objective on shares of ServiceNow from $630.00 to $850.00 and gave the company an outperform rating in a research note on Thursday, January 25th. 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 raised their target price on ServiceNow from $885.00 to $900.00 and gave the company a buy rating in a research note on Wednesday, April 10th. Finally, Truist Financial increased 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. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of Moderate Buy and a consensus price target of $773.52.

ServiceNow Stock Down 4.3 %

Shares of NYSE:NOW opened at $735.53 on Monday. The stock has a 50-day simple moving average of $769.28 and a 200-day simple moving average of $698.87. The stock has a market capitalization of $151.06 billion, a P/E ratio of 87.46, a PEG ratio of 4.86 and a beta of 0.97. ServiceNow has a 1 year low of $427.68 and a 1 year high of $815.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06.

ServiceNow (NYSE:NOW) last released its quarterly earnings data 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 company 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%. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 earnings per share. Equities analysts forecast that ServiceNow will post 6.16 earnings per share for the current year.

Insider Transactions at ServiceNow

In related news, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the transaction, the insider now owns 1,392 shares in the company, valued at approximately $1,067,831.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the sale, the insider now directly owns 1,392 shares in the company, valued at $1,067,831.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, 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. In the last ninety days, insiders have sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ServiceNow

A number of hedge funds have recently made changes to their positions in NOW. Argonautica Private Wealth Management Inc. increased its position in ServiceNow by 1.0% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock valued at $972,000 after acquiring an additional 13 shares during the period. Wealth Management Partners LLC increased its holdings in shares of ServiceNow by 2.7% during the fourth quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock valued at $375,000 after purchasing an additional 14 shares during the period. Oliver Lagore Vanvalin Investment Group raised its stake in shares of ServiceNow by 30.4% during the fourth 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 in the last quarter. Trust Co. of Vermont lifted its holdings in ServiceNow by 8.6% in the third quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock worth $106,000 after purchasing an additional 15 shares during the period. Finally, Claro Advisors LLC increased its stake in ServiceNow by 3.6% during the 4th quarter. Claro Advisors LLC now owns 428 shares of the information technology services provider’s stock valued at $302,000 after buying an additional 15 shares during the period. Institutional investors own 87.18% of the company’s stock.

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.