ServiceNow's (NOW) "Sell" Rating Reiterated at Guggenheim

Guggenheim restated their sell rating on shares of ServiceNow (NYSE:NOW - Free Report) in a research note issued to investors on Tuesday, Marketbeat reports. Guggenheim currently has a $724.00 target price on the information technology services provider's stock.

Other research analysts have also issued research reports about the company. Wells Fargo & Company boosted their target price on ServiceNow from $1,100.00 to $1,150.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Mizuho increased their price objective on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Thursday, June 12th. TD Securities reaffirmed a "buy" rating and set a $1,100.00 target price on shares of ServiceNow in a research report on Thursday, April 24th. Citigroup increased their price target on shares of ServiceNow from $1,128.00 to $1,160.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Finally, UBS Group reaffirmed a "buy" rating and set a $1,025.00 price target (up previously from $900.00) on shares of ServiceNow in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,068.23.

ServiceNow Price Performance

NYSE:NOW traded down $11.65 during trading hours on Tuesday, hitting $1,023.36. 1,459,490 shares of the stock were exchanged, compared to its average volume of 1,485,948. The company has a market cap of $211.82 billion, a P/E ratio of 139.04, a P/E/G ratio of 4.80 and a beta of 0.94. The firm's fifty day moving average price is $1,005.88 and its 200 day moving average price is $961.79. ServiceNow has a 52-week low of $678.66 and a 52-week high of $1,198.09. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15.

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

Insider Activity at ServiceNow

In other news, Director Anita M. Sands sold 428 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total value of $433,825.08. Following the transaction, the director directly owned 10,891 shares of the company's stock, valued at $11,039,226.51. This represents a 3.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan Chadwick sold 770 shares of ServiceNow stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $931.62, for a total transaction of $717,347.40. Following the sale, the director directly owned 3,205 shares of the company's stock, valued at $2,985,842.10. The trade was a 19.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,955 shares of company stock worth $6,862,195 over the last ninety days. Company insiders own 0.38% of the company's stock.

Institutional Investors Weigh In On ServiceNow

Several hedge funds have recently bought and sold shares of the stock. Bogart Wealth LLC increased its position in ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after buying an additional 17 shares during the period. Graybill Wealth Management LTD. bought a new position in ServiceNow during the first quarter worth about $26,000. Quarry LP bought a new position in ServiceNow during the fourth quarter worth about $27,000. Atala Financial Inc bought a new position in ServiceNow during the fourth quarter worth about $28,000. Finally, WASHINGTON TRUST Co increased its position in ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after acquiring an additional 31 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

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.