ServiceNow, Inc. (NYSE:NOW) had its target price boosted by BMO Capital Markets from $110.00 to $127.00 in a research report sent to investors on Thursday morning, MarketBeat reports. The brokerage currently has an outperform rating on the information technology services provider’s stock.

Several other research firms also recently weighed in on NOW. OTR Global downgraded ServiceNow to a positive rating in a report on Friday, July 14th. Morgan Stanley reiterated an overweight rating and issued a $134.00 target price (up previously from $124.00) on shares of ServiceNow in a research note on Thursday, July 20th. Zacks Investment Research lowered ServiceNow from a hold rating to a sell rating in a research note on Tuesday, June 27th. BidaskClub upgraded ServiceNow from a buy rating to a strong-buy rating in a research note on Tuesday, June 27th. Finally, Citigroup Inc. reiterated a buy rating and issued a $135.00 target price (up previously from $109.00) on shares of ServiceNow in a research note on Saturday, July 22nd. Eight analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $114.76.

ServiceNow (NYSE NOW) traded down 1.62% during mid-day trading on Thursday, hitting $109.84. 538,961 shares of the stock were exchanged. The stock has a 50 day moving average of $106.94 and a 200-day moving average of $95.33. The stock’s market cap is $18.72 billion. ServiceNow has a 52-week low of $71.25 and a 52-week high of $115.85.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02. The firm had revenue of $471.70 million during 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 firm’s quarterly revenue was up 38.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 earnings per share. Equities analysts predict that ServiceNow will post $1.17 EPS for the current fiscal year.

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In other ServiceNow news, Director Frederic B. Luddy sold 102,000 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $94.96, for a total value of $9,685,920.00. Following the completion of the transaction, the director now directly owns 6,232 shares of the company’s stock, valued at $591,790.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frederic B. Luddy sold 52,000 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $109.96, for a total value of $5,717,920.00. Following the completion of the transaction, the director now directly owns 11,190 shares of the company’s stock, valued at $1,230,452.40. The disclosure for this sale can be found here. Insiders sold 581,673 shares of company stock valued at $61,196,746 over the last three months. 3.30% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Comerica Bank bought a new position in shares of ServiceNow during the fourth quarter worth about $636,000. Dimensional Fund Advisors LP increased its position in shares of ServiceNow by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 141,456 shares of the information technology services provider’s stock worth $10,517,000 after buying an additional 10,345 shares during the last quarter. Teachers Advisors LLC increased its position in shares of ServiceNow by 18.1% in the fourth quarter. Teachers Advisors LLC now owns 541,885 shares of the information technology services provider’s stock worth $40,284,000 after buying an additional 83,095 shares during the last quarter. Creative Planning increased its position in shares of ServiceNow by 4.2% in the first quarter. Creative Planning now owns 3,750 shares of the information technology services provider’s stock worth $328,000 after buying an additional 151 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its position in shares of ServiceNow by 1.0% in the first quarter. Gulf International Bank UK Ltd now owns 50,351 shares of the information technology services provider’s stock worth $4,404,000 after buying an additional 500 shares during the last quarter. 97.50% of the stock is owned by 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)

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