ServiceNow, Inc. (NYSE:NOW)‘s stock had its “buy” rating reiterated by Citigroup Inc. in a research report issued on Saturday. They presently have a $135.00 price target on the information technology services provider’s stock, up from their prior price target of $109.00. Citigroup Inc.’s price target points to a potential upside of 24.78% from the stock’s current price.

A number of other research analysts have also weighed in on the company. Zacks Investment Research upgraded ServiceNow from a “hold” rating to a “buy” rating and set a $106.00 target price on the stock in a report on Friday, April 28th. Morgan Stanley raised their target price on ServiceNow from $108.00 to $114.00 and gave the company an “overweight” rating in a report on Friday, April 28th. BMO Capital Markets raised their target price on ServiceNow from $104.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, April 27th. Barclays PLC restated an “overweight” rating and issued a $115.00 target price (up previously from $107.00) on shares of ServiceNow in a report on Monday, June 5th. Finally, Royal Bank Of Canada raised their target price on ServiceNow from $108.00 to $110.00 and gave the company a “top pick” rating in a report on Thursday, April 27th. Seven equities 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 stock presently has a consensus rating of “Buy” and an average target price of $107.96.

ServiceNow (NOW) traded down 1.50% during midday trading on Friday, reaching $108.19. The company’s stock had a trading volume of 2,151,627 shares. ServiceNow has a 52-week low of $70.76 and a 52-week high of $113.01. The firm has a 50 day moving average of $106.69 and a 200 day moving average of $94.16. The firm’s market cap is $18.36 billion.

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

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In other 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 value of $217,660.72. Following the completion of the transaction, the executive now directly owns 47,654 shares in the company, valued at $4,624,344.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frederic B. Luddy sold 102,000 shares of ServiceNow stock in a transaction on Thursday, May 4th. The shares were 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 owns 6,232 shares of the company’s stock, valued at $591,790.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 581,673 shares of company stock valued at $61,196,746. 3.30% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in NOW. DnB Asset Management AS raised its stake in ServiceNow by 41.1% in the first quarter. DnB Asset Management AS now owns 18,542 shares of the information technology services provider’s stock valued at $1,622,000 after buying an additional 5,400 shares in the last quarter. Gateway Investment Advisers LLC raised its stake in ServiceNow by 7.7% in the first quarter. Gateway Investment Advisers LLC now owns 85,226 shares of the information technology services provider’s stock valued at $7,455,000 after buying an additional 6,122 shares in the last quarter. Inverness Counsel LLC NY raised its stake in ServiceNow by 28.4% in the first quarter. Inverness Counsel LLC NY now owns 119,639 shares of the information technology services provider’s stock valued at $10,108,000 after buying an additional 26,490 shares in the last quarter. Capstone Asset Management Co. raised its stake in ServiceNow by 16.3% in the first quarter. Capstone Asset Management Co. now owns 3,782 shares of the information technology services provider’s stock valued at $331,000 after buying an additional 530 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in ServiceNow by 65.2% in the first quarter. Bank of Montreal Can now owns 153,219 shares of the information technology services provider’s stock valued at $13,401,000 after buying an additional 60,487 shares in the last quarter. Institutional investors own 97.59% 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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