ServiceNow (NYSE:NOW) Given Neutral Rating at Guggenheim

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

Several other research analysts have also recently issued reports on NOW. Barclays raised their price objective on ServiceNow from $765.00 to $870.00 and gave the stock an overweight rating in a research note on Tuesday, January 23rd. Truist Financial upped their price objective on shares of ServiceNow from $700.00 to $750.00 and gave the company a hold rating in a report on Thursday, January 25th. Piper Sandler raised their target price on shares of ServiceNow from $750.00 to $830.00 and gave the stock an overweight rating in a report on Thursday, January 25th. Citigroup upped their price target on shares of ServiceNow from $862.00 to $896.00 and gave the company a buy rating in a report on Friday, January 26th. Finally, Robert W. Baird upped their price objective on ServiceNow from $780.00 to $870.00 and gave the stock an outperform rating in a research report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $773.52.

ServiceNow Stock Performance

NOW opened at $735.53 on Monday. The firm’s 50-day moving average price is $769.28 and its 200-day moving average price is $698.87. The company has a market cap of $151.06 billion, a P/E ratio of 87.46, a price-to-earnings-growth ratio of 4.86 and a beta of 0.97. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. ServiceNow has a 52-week low of $427.68 and a 52-week high of $815.32.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the company posted $0.88 earnings per share. As a group, equities analysts anticipate that ServiceNow will post 6.16 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of 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 is available through the SEC website. In related news, insider Paul John Smith sold 1,795 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the completion of the sale, the insider now directly owns 994 shares of the company’s stock, valued at approximately $776,373.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the sale, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold a total of 13,164 shares of company stock worth $9,940,303 in the last quarter. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NOW. PFG Private Wealth Management LLC acquired a new position in ServiceNow in the 3rd quarter valued at about $28,000. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $29,000. First Capital Advisors Group LLC. purchased a new stake in ServiceNow during the 2nd quarter worth approximately $29,000. High Net Worth Advisory Group LLC purchased a new position in ServiceNow in the 1st quarter valued at approximately $29,000. Finally, AdvisorNet Financial Inc grew its stake in shares of ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 32 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

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.