Guggenheim Reiterates Sell Rating for ServiceNow (NYSE:NOW)

ServiceNow (NYSE:NOW)‘s stock had its “sell” rating reiterated by equities research analysts at Guggenheim in a report released on Monday, MarketBeat reports. They currently have a $640.00 target price on the information technology services provider’s stock. Guggenheim’s target price suggests a potential downside of 13.94% from the company’s current price.

A number of other equities research analysts have also weighed in on the company. Citigroup boosted their price target on ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. JMP Securities reissued a “market outperform” rating and set a $825.00 target price on shares of ServiceNow in a research report on Tuesday, May 7th. Robert W. Baird raised their price target on shares of ServiceNow from $870.00 to $885.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. William Blair reiterated an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 7th. Finally, StockNews.com downgraded ServiceNow from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $812.60.

ServiceNow Stock Down 2.9 %

Shares of NYSE:NOW opened at $743.69 on Monday. ServiceNow has a 52-week low of $527.24 and a 52-week high of $815.32. The business’s 50 day moving average is $734.70 and its 200 day moving average is $745.39. The stock has a market cap of $152.46 billion, a P/E ratio of 79.54, a price-to-earnings-growth ratio of 5.06 and a beta of 0.99. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, beating the consensus estimate of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.59 billion. Sell-side analysts predict that ServiceNow will post 6.5 EPS for the current year.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 190 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total transaction of $136,568.20. Following the completion of the transaction, the insider now owns 3,010 shares of the company’s stock, valued at $2,163,527.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the sale, the insider now owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul John Smith sold 190 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total value of $136,568.20. Following the completion of the transaction, the insider now owns 3,010 shares of the company’s stock, valued at $2,163,527.80. The disclosure for this sale can be found here. Insiders sold a total of 5,530 shares of company stock worth $3,997,012 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sandbox Financial Partners LLC raised its holdings in ServiceNow by 8.6% in the 4th quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock valued at $590,000 after buying an additional 66 shares during the period. Federated Hermes Inc. lifted its holdings in shares of ServiceNow by 19.8% in the 4th quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock worth $212,033,000 after acquiring an additional 49,631 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of ServiceNow by 5.9% in the 4th quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock worth $234,135,000 after acquiring an additional 18,442 shares during the last quarter. Smithfield Trust Co boosted its position in shares of ServiceNow by 36.4% during the 4th quarter. Smithfield Trust Co now owns 981 shares of the information technology services provider’s stock worth $691,000 after purchasing an additional 262 shares during the period. Finally, Dohj LLC purchased a new stake in ServiceNow in the fourth quarter valued at approximately $913,000. 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.