ServiceNow (NYSE:NOW) Given “Neutral” Rating at Guggenheim

Guggenheim restated their neutral rating on shares of ServiceNow (NYSE:NOW) in a research report sent to investors on Monday, Marketbeat reports.

Other analysts have also issued research reports about the company. Barclays lifted their price objective on ServiceNow from $765.00 to $870.00 and gave the stock an overweight rating in a report on Tuesday, January 23rd. KeyCorp assumed coverage on shares of ServiceNow in a research note on Thursday, March 21st. They issued an overweight rating and a $1,000.00 price objective on the stock. JMP Securities upped their target price on shares of ServiceNow from $665.00 to $825.00 and gave the company a market outperform rating in a report on Monday, January 22nd. Stifel Nicolaus reiterated a buy rating and set a $820.00 price target on shares of ServiceNow in a research note on Wednesday, March 20th. Finally, Mizuho boosted their price objective on shares of ServiceNow from $750.00 to $820.00 and gave the company a buy rating in a research report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $780.37.

ServiceNow Trading Down 0.7 %

NYSE NOW opened at $731.47 on Monday. The stock’s 50 day moving average is $766.17 and its 200 day moving average is $700.64. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $150.23 billion, a PE ratio of 86.98, a P/E/G ratio of 4.71 and a beta of 0.97. ServiceNow has a twelve month low of $427.68 and a twelve month high of $815.32.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 11.85% and a net margin of 19.30%. The firm’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter last year, the company earned $0.88 EPS. Research analysts forecast that ServiceNow will post 6.16 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, insider Paul John Smith sold 1,795 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the transaction, the insider now owns 994 shares of the company’s stock, valued at $776,373.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $1,402,002.70. Following the transaction, the insider now directly owns 994 shares in the company, valued at approximately $776,373.64. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock valued at $9,940,303 over the last 90 days. 0.25% of the stock is owned by insiders.

Hedge Funds Weigh In On ServiceNow

Several hedge funds have recently made changes to their positions in the company. SeaCrest Wealth Management LLC grew its holdings in shares of ServiceNow by 1.9% during the first quarter. SeaCrest Wealth Management LLC now owns 2,475 shares of the information technology services provider’s stock worth $1,887,000 after purchasing an additional 45 shares during the last quarter. Naviter Wealth LLC grew its holdings in shares of ServiceNow by 20.4% during the first quarter. Naviter Wealth LLC now owns 1,761 shares of the information technology services provider’s stock worth $1,343,000 after buying an additional 298 shares during the last quarter. West Oak Capital LLC grew its holdings in shares of ServiceNow by 7.5% during the first quarter. West Oak Capital LLC now owns 432 shares of the information technology services provider’s stock worth $329,000 after buying an additional 30 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in shares of ServiceNow during the first quarter worth about $79,000. Finally, Cullinan Associates Inc. grew its holdings in shares of ServiceNow by 22.2% during the first quarter. Cullinan Associates Inc. now owns 1,100 shares of the information technology services provider’s stock worth $839,000 after buying an additional 200 shares during the last quarter. Hedge funds and other 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.