ServiceNow Inc (NYSE:NOW) traded down 1.7% during mid-day trading on Friday after MKM Partners downgraded the stock from a buy rating to a neutral rating, AnalystRatings.Net reports. MKM Partners now has a $60.00 price target on the stock. ServiceNow traded as low as $61.72 and last traded at $62.47, with a volume of 3,701,867 shares trading hands. The stock had previously closed at $63.57.

NOW has been the topic of several other research reports. Zacks Investment Research cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday, December 22nd. RBC Capital dropped their price target on shares of ServiceNow from $90.00 to $85.00 and set a “top pick” rating on the stock in a research note on Thursday. JMP Securities lifted their price target on shares of ServiceNow from $90.00 to $97.00 and gave the stock a “market outperform” rating in a research note on Friday, December 11th. Goldman Sachs reiterated a “hold” rating on shares of ServiceNow in a research note on Saturday, December 12th. Finally, Brean Capital reiterated a “buy” rating and set a $96.00 price target on shares of ServiceNow in a research note on Tuesday, October 20th. Nine research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. ServiceNow presently has an average rating of “Buy” and an average price target of $86.32.

In related news, CFO Michael Scarpelli sold 10,712 shares of the company’s stock in a transaction dated Wednesday, January 13th. The shares were sold at an average price of $79.43, for a total transaction of $850,854.16. Following the transaction, the chief financial officer now directly owns 82,665 shares in the company, valued at approximately $6,566,080.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frank Slootman sold 150,000 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $81.60, for a total transaction of $12,240,000.00. Following the transaction, the chief executive officer now owns 73,389 shares in the company, valued at $5,988,542.40. The disclosure for this sale can be found here.

Other institutional investors have recently modified their holdings of the company. Beacon Capital Management purchased a new position in shares of ServiceNow during the fourth quarter valued at approximately $0. Cullen Frost Bankers Inc. increased its position in shares of ServiceNow by 0.5% in the fourth quarter. Cullen Frost Bankers Inc. now owns 3,192 shares of the company’s stock valued at $276,000 after buying an additional 17 shares during the last quarter. Fisher Asset Management increased its position in shares of ServiceNow by 4.7% in the fourth quarter. Fisher Asset Management now owns 17,694 shares of the company’s stock valued at $1,532,000 after buying an additional 787 shares during the last quarter. Nordea Investment Management AB increased its position in shares of 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. Finally, Magee Thomson Investment Partners LLC increased its position in shares of 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.

The company’s 50-day moving average is $81.43 and its 200 day moving average is $78.65. The stock’s market cap is $9.75 billion.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 27th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.11. During the same period in the previous year, the business earned $0.03 earnings per share. The company had revenue of $285.70 million for the quarter, compared to analysts’ expectations of $281.36 million. The business’s revenue for the quarter was up 44.3% on a year-over-year basis. Analysts predict that ServiceNow Inc will post $0.58 earnings per share for the current fiscal year.

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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