TheStreet upgraded shares of ServiceNow, Inc. (NYSE:NOW) from a d rating to a c- rating in a research report released on Wednesday morning.

Several other equities research analysts also recently commented on the company. Stifel Nicolaus reiterated a hold rating and set a $110.00 target price (up from $93.00) on shares of ServiceNow in a report on Thursday. Cowen and Company restated an outperform rating and set a $123.00 price objective (up previously from $110.00) on shares of ServiceNow in a research note on Thursday. Raymond James Financial, Inc. raised their price objective on ServiceNow from $110.00 to $126.00 and gave the company a strong-buy rating in a research note on Thursday. Barclays PLC raised their price objective on ServiceNow from $120.00 to $126.00 and gave the company an overweight rating in a research note on Thursday. Finally, Guggenheim restated a buy rating and set a $120.00 price objective (up previously from $108.00) on shares of ServiceNow in a research note on Thursday. Eight equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $114.76.

ServiceNow (NYSE NOW) opened at 111.65 on Wednesday. The stock’s 50 day moving average price is $106.94 and its 200-day moving average price is $95.33. The firm’s market capitalization is $19.03 billion. ServiceNow has a 12 month low of $71.25 and a 12 month high of $115.85.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 26th. The information technology services provider reported $0.22 EPS for the quarter, beating the consensus estimate 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 company’s revenue was up 38.2% on a year-over-year basis. During the same period last year, the business posted $0.15 EPS. On average, analysts forecast that ServiceNow will post $1.17 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “ServiceNow, Inc. (NOW) Stock Rating Upgraded by TheStreet” was reported by Watch List News and is the property of of Watch List News. If you are reading this story on another site, it was illegally copied and reposted in violation of US and international copyright & trademark laws. The correct version of this story can be accessed at https://www.watchlistnews.com/servicenow-inc-now-stock-rating-upgraded-by-thestreet/1462219.html.

In other ServiceNow news, CRO David Schneider sold 2,243 shares of ServiceNow stock in a transaction on Monday, May 15th. The stock was sold at an average price of $97.04, for a total transaction of $217,660.72. Following the sale, the executive now owns 47,654 shares of the company’s stock, valued at approximately $4,624,344.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 150,000 shares of ServiceNow stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $104.09, for a total value of $15,613,500.00. Following the sale, the director now directly owns 356,287 shares in the company, valued at approximately $37,085,913.83. The disclosure for this sale can be found here. In the last three months, insiders sold 581,673 shares of company stock worth $61,196,746. Company insiders own 3.30% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake 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 valued at $1,158,511,000 after buying an additional 994,461 shares during the last quarter. FMR LLC increased its stake 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 valued at $286,908,000 after buying an additional 1,563,778 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake 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 valued at $196,226,000 after buying an additional 254,144 shares during the last quarter. Jennison Associates LLC increased its stake 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 valued at $110,037,000 after buying an additional 33,300 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake 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 valued at $93,820,000 after buying an additional 949,400 shares during the last quarter. 97.71% of the stock is currently owned by hedge funds and other institutional investors.

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)

Receive News & Ratings for ServiceNow Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.