ServiceNow Inc (NYSE:NOW)‘s stock had its “buy” rating reiterated by equities researchers at Canaccord Genuity in a research note issued on Thursday, Market Beat Ratings reports. They currently have a $90.00 target price on the stock. Canaccord Genuity’s target price suggests a potential upside of 19.41% from the company’s current price.

A number of hedge funds and institutional investors have recently added to or reduced their stakes in the company. Russell Frank Co increased its position in ServiceNow by 47.4% in the fourth quarter. Russell Frank Co now owns 438,798 shares of the company’s stock valued at $38,353,000 after buying an additional 141,072 shares during the last quarter. Magee Thomson Investment Partners LLC increased its position in ServiceNow by 1.0% in the fourth quarter. Magee Thomson Investment Partners LLC now owns 195,500 shares of the company’s stock valued at $16,924,000 after buying an additional 2,000 shares during the last quarter. Fortaleza Asset Management Inc. increased its position in ServiceNow by 8.0% in the fourth quarter. Fortaleza Asset Management Inc. now owns 29,000 shares of the company’s stock valued at $2,510,000 after buying an additional 2,145 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in ServiceNow by 49.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 111,048 shares of the company’s stock valued at $9,794,000 after buying an additional 36,698 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in ServiceNow by 73.3% in the fourth quarter. Nordea Investment Management AB now owns 3,479 shares of the company’s stock valued at $301,000 after buying an additional 1,471 shares during the last quarter.

Shares of ServiceNow (NYSE:NOW) opened at 75.37 on Thursday. The company’s market cap is $11.98 billion. The firm has a 50-day moving average price of $82.11 and a 200 day moving average price of $78.76. ServiceNow has a 12 month low of $64.29 and a 12 month high of $91.28.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 27th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.11. During the same quarter in the previous year, the company earned $0.03 EPS. The company earned $285.70 million during the quarter, compared to analysts’ expectations of $281.36 million. The business’s quarterly revenue was up 44.3% compared to the same quarter last year. Equities analysts predict that ServiceNow will post $0.29 earnings per share for the current year.

NOW has been the subject of several other research reports. Zacks Investment Research upgraded ServiceNow from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research report on Friday, October 23rd. Mizuho increased their target price on ServiceNow from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, January 22nd. JMP Securities increased their target price on ServiceNow from $90.00 to $97.00 and gave the stock a “market outperform” rating in a research report on Friday, December 11th. MKM Partners reiterated a “buy” rating and set a $90.00 target price on shares of ServiceNow in a research report on Monday, October 5th. Finally, Brean Capital reiterated a “buy” rating and set a $96.00 target price on shares of ServiceNow in a research report on Tuesday, October 20th. Eight equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. ServiceNow presently has an average rating of “Buy” and an average target price of $87.68.

In other ServiceNow news, Director William L. Strauss sold 15,000 shares of the firm’s stock in a transaction on Friday, November 6th. The stock was sold at an average price of $85.18, for a total transaction of $1,277,700.00. Following the transaction, the director now directly owns 3,131 shares in the company, valued at approximately $266,698.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Daniel Mcgee sold 3,473 shares of the firm’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $84.77, for a total value of $294,406.21. Following the transaction, the chief operating officer now owns 41,061 shares in the company, valued at $3,480,740.97. The disclosure for this sale can be found here.

ServiceNow, Inc. is a provider of cloud-based solutions that define, structure, manage and automate services across the global enterprise. The Company provides cloud-based service management solutions that address the needs of a range of departments within an organization, including IT, human resources (NYSE:NOW), facilities, field service, marketing, legal and finance. It also provides business management and IT operations management solutions that facilitate the delivery of services across the enterprise. The Company markets its services to enterprises in a variety of industries, including financial services, consumer products, IT services, health care and technology. The Company offers a portfolio of services, including Professional Services, Education Services and Customer Support. The Company provides its services from data centers located in Australia, Brazil, Canada, Hong Kong, the Netherlands, Singapore, Switzerland, the United Kingdom and the United States.

12 Month Chart for NYSE:NOW

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