ServiceNow, Inc. (NYSE:NOW) had its price objective increased by Raymond James Financial, Inc. from $110.00 to $126.00 in a research report report published on Thursday morning. Raymond James Financial, Inc. currently has a strong-buy rating on the information technology services provider’s stock.

Other equities analysts also recently issued reports about the company. UBS AG reaffirmed a buy rating and set a $110.00 price target (up from $101.00) on shares of ServiceNow in a research report on Friday, April 28th. BidaskClub downgraded ServiceNow from a strong-buy rating to a buy rating in a research report on Wednesday, June 14th. Deutsche Bank AG upped their price target on ServiceNow from $100.00 to $105.00 and gave the stock a buy rating in a research report on Friday, April 28th. Stifel Nicolaus upped their price target on ServiceNow from $90.00 to $93.00 and gave the stock a hold rating in a research report on Friday, April 28th. Finally, DA Davidson set a $118.00 price target on ServiceNow and gave the stock a buy rating in a research report on Thursday, April 27th. Eight investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $114.76.

Shares of ServiceNow (NOW) traded down 1.33% during mid-day trading on Thursday, reaching $110.17. The company’s stock had a trading volume of 1,312,380 shares. ServiceNow has a one year low of $71.25 and a one year high of $115.85. The firm’s market cap is $18.78 billion. The firm’s 50 day moving average is $106.94 and its 200 day moving average is $95.33.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The business had revenue of $471.70 million for the quarter, compared to the consensus estimate of $462.11 million. ServiceNow had a negative return on equity of 30.72% and a negative net margin of 10.17%. The business’s quarterly revenue was up 38.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 earnings per share. On average, equities analysts anticipate that ServiceNow will post $1.17 earnings per share for the current fiscal year.

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In other news, CEO John J. Donahoe acquired 5,618 shares of the firm’s stock in a transaction on Monday, May 8th. The stock was acquired at an average price of $97.93 per share, for a total transaction of $550,170.74. Following the completion of the transaction, the chief executive officer now owns 5,618 shares in the company, valued at approximately $550,170.74. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frederic B. Luddy sold 167,000 shares of the company’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $108.34, for a total transaction of $18,092,780.00. Following the completion of the transaction, the director now owns 11,190 shares of the company’s stock, valued at approximately $1,212,324.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 581,673 shares of company stock valued at $61,196,746. Insiders own 3.30% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of ServiceNow by 8.1% in the first quarter. Vanguard Group Inc. now owns 13,244,656 shares of the information technology services provider’s stock worth $1,158,511,000 after buying an additional 994,461 shares during the period. FMR LLC increased its position in shares of ServiceNow by 91.1% in the first quarter. FMR LLC now owns 3,280,069 shares of the information technology services provider’s stock worth $286,908,000 after buying an additional 1,563,778 shares during the period. TIAA CREF Investment Management LLC increased its position in shares of ServiceNow by 12.8% in the first quarter. TIAA CREF Investment Management LLC now owns 2,243,355 shares of the information technology services provider’s stock worth $196,226,000 after buying an additional 254,144 shares during the period. Jennison Associates LLC increased its position in shares of ServiceNow by 2.7% in the first quarter. Jennison Associates LLC now owns 1,257,996 shares of the information technology services provider’s stock worth $110,037,000 after buying an additional 33,300 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of ServiceNow by 770.6% in the first quarter. Renaissance Technologies LLC now owns 1,072,600 shares of the information technology services provider’s stock worth $93,820,000 after buying an additional 949,400 shares during the period. Institutional investors and hedge funds own 97.50% of the company’s stock.

About ServiceNow

ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.

Analyst Recommendations for ServiceNow (NYSE:NOW)

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