ServiceNow (NYSE:NOW) Earns Sell Rating from Guggenheim

Guggenheim restated their sell rating on shares of ServiceNow (NYSE:NOW - Free Report) in a research report released on Wednesday,Benzinga reports. Guggenheim currently has a $716.00 price objective on the information technology services provider's stock.

NOW has been the subject of a number of other reports. The Goldman Sachs Group reduced their target price on shares of ServiceNow from $1,200.00 to $1,050.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Redburn Atlantic assumed coverage on ServiceNow in a report on Wednesday, February 19th. They set a "buy" rating for the company. Mizuho cut their target price on ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 11th. Royal Bank of Canada set a $986.00 price target on shares of ServiceNow in a research note on Tuesday, March 11th. Finally, William Blair reiterated an "outperform" rating on shares of ServiceNow in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have issued a buy rating to the company. According to MarketBeat, ServiceNow currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,057.17.

ServiceNow Stock Down 3.1 %

Shares of NYSE NOW traded down $24.48 during mid-day trading on Wednesday, reaching $772.18. 1,802,088 shares of the company's stock were exchanged, compared to its average volume of 1,480,412. ServiceNow has a twelve month low of $637.99 and a twelve month high of $1,198.09. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $159.84 billion, a price-to-earnings ratio of 113.06, a PEG ratio of 4.51 and a beta of 1.08. The business has a fifty day simple moving average of $852.94 and a 200 day simple moving average of $969.52.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. As a group, equities analysts expect that ServiceNow will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its board has initiated a stock buyback plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Jeffrey A. Miller sold 2,282 shares of the business's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $1,030.64, for a total value of $2,351,920.48. Following the completion of the sale, the director now owns 40,638 shares of the company's stock, valued at $41,883,148.32. The trade was a 5.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William R. Mcdermott sold 1,263 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the transaction, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,644,564.50. The trade was a 32.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,250 shares of company stock valued at $19,853,273 in the last ninety days. 0.38% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ServiceNow

Several institutional investors have recently made changes to their positions in the stock. Union Bancaire Privee UBP SA acquired a new position in shares of ServiceNow in the 4th quarter valued at approximately $48,802,000. Dock Street Asset Management Inc. raised its holdings in shares of ServiceNow by 3.4% during the 4th quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider's stock worth $35,147,000 after buying an additional 1,105 shares in the last quarter. Cardano Risk Management B.V. bought a new stake in shares of ServiceNow during the 4th quarter worth $105,090,000. Rheos Capital Works Inc. acquired a new stake in ServiceNow in the fourth quarter valued at about $10,071,000. Finally, Czech National Bank grew its holdings in shares of ServiceNow by 6.7% during the 4th quarter. Czech National Bank now owns 44,793 shares of the information technology services provider's stock valued at $47,486,000 after purchasing an additional 2,829 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

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.