ServiceNow, Inc. (NYSE:NOW) had its target price lifted by investment analysts at Morgan Stanley from $124.00 to $134.00 in a report released on Thursday. The brokerage currently has an “overweight” rating on the information technology services provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 22.00% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on NOW. UBS AG restated a “buy” rating and issued a $110.00 price target (up previously from $101.00) on shares of ServiceNow in a report on Friday, April 28th. OTR Global cut ServiceNow to a “positive” rating in a report on Friday, July 14th. Stephens began coverage on ServiceNow in a report on Thursday, May 25th. They set an “overweight” rating and a $120.00 target price on the stock. Zacks Investment Research upgraded ServiceNow from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, ValuEngine upgraded ServiceNow from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Seven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $106.84.

Shares of ServiceNow (NYSE NOW) traded down 0.25% during mid-day trading on Thursday, reaching $109.84. The company’s stock had a trading volume of 1,634,285 shares. The company’s market capitalization is $18.64 billion. The company’s 50 day moving average price is $106.54 and its 200-day moving average price is $94.04. ServiceNow has a 1-year low of $70.61 and a 1-year high of $113.01.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 26th. The information technology services provider reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by $0.02. The firm had revenue of $416.80 million during the quarter, compared to analyst estimates of $409.26 million. ServiceNow had a negative return on equity of 31.34% and a negative net margin of 10.60%. The business’s revenue was up 36.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 EPS. Analysts predict that ServiceNow will post $1.17 earnings per share for the current fiscal year.

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In other ServiceNow news, CEO John J. Donahoe bought 5,618 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were acquired at an average cost of $97.93 per share, with a total value of $550,170.74. Following the completion of the transaction, the chief executive officer now owns 5,618 shares in the company, valued at $550,170.74. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frederic B. Luddy sold 102,000 shares of ServiceNow stock in a transaction dated 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 sale, the director now directly owns 6,232 shares in the company, valued at $591,790.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 581,673 shares of company stock worth $61,196,746. Corporate insiders own 3.30% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the company. LS Investment Advisors LLC increased its position in ServiceNow by 3.6% in the second quarter. LS Investment Advisors LLC now owns 1,738 shares of the information technology services provider’s stock worth $184,000 after buying an additional 61 shares during the period. Nordea Investment Management AB increased its position in ServiceNow by 2.5% in the first quarter. Nordea Investment Management AB now owns 3,567 shares of the information technology services provider’s stock worth $312,000 after buying an additional 88 shares during the period. Janney Montgomery Scott LLC increased its position in ServiceNow by 1.4% in the first quarter. Janney Montgomery Scott LLC now owns 6,794 shares of the information technology services provider’s stock worth $594,000 after buying an additional 93 shares during the period. Crow Point Partners LLC increased its position in ServiceNow by 8.8% in the second quarter. Crow Point Partners LLC now owns 1,320 shares of the information technology services provider’s stock worth $140,000 after buying an additional 107 shares during the period. Finally, Pacer Advisors Inc. increased its position in ServiceNow by 3.2% in the first quarter. Pacer Advisors Inc. now owns 3,501 shares of the information technology services provider’s stock worth $306,000 after buying an additional 110 shares during the period. Institutional investors and hedge funds own 97.59% of the company’s stock.

ServiceNow Company Profile

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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