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

Guggenheim reissued their sell rating on shares of ServiceNow (NYSE:NOW) in a report published on Wednesday,Benzinga reports. They currently have a $716.00 price objective on the information technology services provider’s stock.

A number of other analysts also recently weighed in on the company. UBS Group upped their target price on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Barclays upped their target price on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Wells Fargo & Company upped their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. upped their target price on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, Raymond James began coverage on ServiceNow in a research report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,093.34.

ServiceNow Stock Performance

NOW opened at $1,124.64 on Wednesday. The business has a fifty day simple moving average of $1,074.80 and a 200 day simple moving average of $939.98. The company has a market capitalization of $231.68 billion, a PE ratio of 174.91, a price-to-earnings-growth ratio of 5.11 and a beta of 0.99. ServiceNow has a 1 year low of $637.99 and a 1 year high of $1,157.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.21 EPS. Research analysts expect that ServiceNow will post 7.06 EPS for the current year.

Insider Activity

In other news, Director Anita M. Sands sold 2,229 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the completion of the sale, the director now owns 11,000 shares of the company’s stock, valued at approximately $11,710,600. This represents a 16.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,173,173.83. The trade was a 2.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,731 shares of company stock valued at $21,016,751. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Several large investors have recently added to or reduced their stakes in NOW. World Investment Advisors LLC grew its stake in ServiceNow by 499,668.1% during the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after purchasing an additional 4,771,830 shares during the period. International Assets Investment Management LLC boosted its holdings in ServiceNow by 89,137.0% in the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after acquiring an additional 1,183,739 shares in the last quarter. Bank of Montreal Can boosted its holdings in ServiceNow by 216.6% in the third quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock worth $1,206,178,000 after acquiring an additional 935,848 shares in the last quarter. Wellington Management Group LLP boosted its holdings in ServiceNow by 24.1% in the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after acquiring an additional 615,797 shares in the last quarter. Finally, FMR LLC boosted its holdings in ServiceNow by 9.9% in the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after acquiring an additional 502,845 shares in the last quarter. Institutional investors and hedge funds 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.