ServiceNow, Inc. (NYSE:NOW)‘s stock had its “buy” rating reissued by investment analysts at Guggenheim in a research note issued on Thursday. They presently have a $120.00 price target on the information technology services provider’s stock, up from their previous price target of $108.00. Guggenheim’s target price indicates a potential upside of 8.56% from the stock’s previous close.

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 note on Tuesday. Canaccord Genuity reiterated a “buy” rating and issued a $105.00 price objective on shares of ServiceNow in a research note on Friday, April 21st. Zacks Investment Research upgraded shares of ServiceNow from a “hold” rating to a “buy” rating and set a $106.00 price objective on the stock in a research note on Friday, April 28th. BTIG Research reiterated a “buy” rating on shares of ServiceNow in a research note on Monday, April 24th. Finally, ValuEngine upgraded shares of ServiceNow from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Seven research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. ServiceNow presently has an average rating of “Buy” and a consensus price target of $111.28.

Shares of ServiceNow (NYSE NOW) traded up 0.75% on Thursday, hitting $110.54. 5,051,367 shares of the stock traded hands. The company’s market cap is $18.76 billion. ServiceNow has a one year low of $70.76 and a one year high of $115.85. The stock has a 50 day moving average of $106.82 and a 200 day moving average of $95.01.

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, topping the Zacks’ consensus estimate of $0.20 by $0.02. The firm had revenue of $471.70 million for the quarter, compared to analyst estimates of $462.11 million. ServiceNow had a negative net margin of 10.60% and a negative return on equity of 31.34%. The business’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.15 earnings per share. Equities analysts anticipate that ServiceNow will post $1.17 earnings per share for the current year.

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In other ServiceNow news, Director Frederic B. Luddy sold 102,000 shares of ServiceNow stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $94.96, for a total transaction of $9,685,920.00. Following the completion of the sale, the director now directly owns 6,232 shares in the company, valued at $591,790.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frederic B. Luddy sold 52,000 shares of ServiceNow stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $109.96, for a total transaction of $5,717,920.00. Following the sale, the director now 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 581,673 shares of company stock worth $61,196,746 over the last ninety days. 3.30% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the stock. Comerica Bank bought a new stake in shares of ServiceNow during the fourth quarter worth $636,000. Dimensional Fund Advisors LP boosted its stake 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 in the last quarter. Teachers Advisors LLC boosted its stake 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 in the last quarter. Creative Planning boosted its stake 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 in the last quarter. Finally, Gulf International Bank UK Ltd boosted its stake 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 in the last quarter. Institutional investors and hedge funds own 97.71% 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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