ServiceNow (NYSE:NOW) Rating Reiterated by Guggenheim

ServiceNow (NYSE:NOW)‘s stock had its “neutral” rating reiterated by analysts at Guggenheim in a research note issued to investors on Monday, MarketBeat.com reports.

Several other research firms also recently commented on NOW. Royal Bank of Canada increased their price objective on ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Truist Financial increased their price target on ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. UBS Group increased their price target on ServiceNow from $865.00 to $885.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. JMP Securities increased their price target on ServiceNow from $665.00 to $825.00 and gave the stock a “market outperform” rating in a report on Monday, January 22nd. Finally, Barclays increased their price target on ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a report on Tuesday, January 23rd. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $780.00.

ServiceNow Price Performance

Shares of NOW stock opened at $744.64 on Monday. ServiceNow has a fifty-two week low of $427.68 and a fifty-two week high of $815.32. The firm has a market capitalization of $152.93 billion, a price-to-earnings ratio of 88.54, a PEG ratio of 4.86 and a beta of 0.97. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06. The stock’s 50-day simple moving average is $768.63 and its 200-day simple moving average is $700.17.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. The firm had revenue of $2.44 billion for 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. As a group, equities analysts forecast that ServiceNow will post 6.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The stock was 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 directly owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul John Smith sold 5,159 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the sale, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The disclosure for this sale can be found here. Insiders have sold a total of 13,164 shares of company stock valued at $9,940,303 over the last quarter. Company insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

Institutional investors have recently bought and sold shares of the company. Sandbox Financial Partners LLC raised its holdings in shares of ServiceNow by 8.6% in the fourth quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock worth $590,000 after acquiring an additional 66 shares during the last quarter. Raymond James & Associates increased its stake in ServiceNow by 5.9% in the fourth quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock valued at $234,135,000 after purchasing an additional 18,442 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in ServiceNow by 15.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 25,726 shares of the information technology services provider’s stock valued at $18,175,000 after purchasing an additional 3,438 shares during the last quarter. Fifth Third Bancorp increased its stake in ServiceNow by 4.7% in the fourth quarter. Fifth Third Bancorp now owns 70,150 shares of the information technology services provider’s stock valued at $49,560,000 after purchasing an additional 3,154 shares during the last quarter. Finally, F M Investments LLC acquired a new position in ServiceNow in the third quarter valued at $1,624,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

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.