JMP Securities reissued their outperform rating on shares of ServiceNow, Inc. (NYSE:NOW) in a report released on Thursday, The Fly reports.

NOW has been the topic of a number of other research reports. BidaskClub lowered shares of ServiceNow from a strong-buy rating to a buy rating in a research report on Tuesday, July 25th. Canaccord Genuity restated a buy rating and set a $105.00 target price on shares of ServiceNow in a research report on Friday, April 21st. Zacks Investment Research upgraded shares of ServiceNow from a hold rating to a buy rating and set a $106.00 target price on the stock in a research report on Friday, April 28th. BTIG Research restated a buy rating on shares of ServiceNow in a research report on Monday, April 24th. Finally, ValuEngine upgraded shares of ServiceNow from a sell rating to a hold rating in a research report on Friday, June 2nd. Eight investment 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 company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $114.76.

ServiceNow (NYSE:NOW) traded down 1.85% on Thursday, reaching $109.59. The company had a trading volume of 1,092,053 shares. The stock has a 50 day moving average price of $106.94 and a 200 day moving average price of $95.33. The stock’s market capitalization is $18.68 billion. ServiceNow has a 52-week low of $71.25 and a 52-week high of $115.85.

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

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In other news, Director Frederic B. Luddy sold 102,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $110.09, for a total value of $11,229,180.00. Following the completion of the sale, the director now directly owns 11,190 shares of the company’s stock, valued at approximately $1,231,907.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frederic B. Luddy sold 52,000 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $109.96, for a total transaction of $5,717,920.00. Following the completion of the sale, 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 have sold a total of 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 company insiders.

Several hedge funds have recently modified their holdings of NOW. Vanguard Group Inc. raised 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 worth $1,158,511,000 after buying an additional 994,461 shares in the last quarter. FMR LLC raised 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 worth $286,908,000 after buying an additional 1,563,778 shares in the last quarter. TIAA CREF Investment Management LLC raised 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 worth $196,226,000 after buying an additional 254,144 shares in the last quarter. Jennison Associates LLC raised 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 worth $110,037,000 after buying an additional 33,300 shares in the last quarter. Finally, Renaissance Technologies LLC raised 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 worth $93,820,000 after buying an additional 949,400 shares in 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.

The Fly

Analyst Recommendations for ServiceNow (NYSE:NOW)

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