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ServiceNow (NYSE:NOW) Earns Sell Rating from Guggenheim

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ServiceNow (NYSE:NOW - Get Free Report)'s stock had its "sell" rating reiterated by equities research analysts at Guggenheim in a report released on Thursday,Benzinga reports. They presently have a $724.00 target price on the information technology services provider's stock. Guggenheim's price objective would indicate a potential downside of 24.53% from the stock's current price.

Other analysts also recently issued research reports about the company. Oppenheimer reissued an "outperform" rating and issued a $1,100.00 price objective (up previously from $970.00) on shares of ServiceNow in a research note on Tuesday, May 6th. Barclays set a $1,085.00 price objective on ServiceNow in a research note on Wednesday, May 7th. The Goldman Sachs Group reissued a "buy" rating on shares of ServiceNow in a research note on Thursday, April 24th. Wells Fargo & Company boosted their price objective on ServiceNow from $1,100.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Finally, Jefferies Financial Group dropped their price objective on ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-one have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,073.13.

Get Our Latest Report on ServiceNow

ServiceNow Stock Performance

NOW stock traded down $7.70 during trading on Thursday, reaching $959.27. 1,274,885 shares of the company's stock were exchanged, compared to its average volume of 1,488,070. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15. ServiceNow has a 1-year low of $678.66 and a 1-year high of $1,198.09. The company's fifty day moving average price is $1,006.88 and its 200-day moving average price is $957.08. The firm has a market cap of $198.55 billion, a PE ratio of 130.34, a P/E/G ratio of 4.44 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the previous year, the firm posted $3.41 EPS. The firm's quarterly revenue was up 18.6% on a year-over-year basis. On average, research analysts expect that ServiceNow will post 8.93 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Deborah Black sold 598 shares of the business's stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $940.23, for a total value of $562,257.54. Following the transaction, the director owned 428 shares in the company, valued at $402,418.44. The trade was a 58.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jonathan Chadwick sold 770 shares of the business's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $931.62, for a total value of $717,347.40. Following the completion of the transaction, the director owned 3,205 shares in the company, valued at $2,985,842.10. This trade represents a 19.37% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,601 shares of company stock valued at $6,577,363. Corporate insiders own 0.38% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of ServiceNow by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider's stock worth $15,522,335,000 after acquiring an additional 297,734 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of ServiceNow by 6.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock worth $8,434,235,000 after acquiring an additional 509,467 shares in the last quarter. FMR LLC boosted its stake in shares of ServiceNow by 4.9% during the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock worth $6,232,339,000 after acquiring an additional 272,506 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of ServiceNow by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock worth $4,560,890,000 after acquiring an additional 100,670 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of ServiceNow by 7.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider's stock worth $2,263,519,000 after acquiring an additional 188,292 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Company Profile

(Get Free Report)

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.

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