ServiceNow Inc. (NYSE:NOW)’s share price fell 2.9% during mid-day trading on Monday . The stock traded as low as $71.39 and last traded at $71.52, with a volume of 606,221 shares. The stock had previously closed at $73.69.

Several brokerages have issued reports on NOW. Zacks Investment Research lowered ServiceNow from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Argus reaffirmed a “buy” rating and set a $86.00 price objective on shares of ServiceNow in a report on Wednesday, August 3rd. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $90.00 price objective on shares of ServiceNow in a report on Thursday, July 28th. Morgan Stanley increased their target price on shares of ServiceNow from $76.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, July 28th. Finally, Pacific Crest increased their target price on shares of ServiceNow from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. ServiceNow has an average rating of “Buy” and a consensus target price of $84.22.

The firm’s 50-day moving average price is $72.28 and its 200 day moving average price is $66.60. The company’s market cap is $11.74 billion.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. The company earned $341.30 million during the quarter, compared to analyst estimates of $334.07 million. The company’s revenue was up 38.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.05 earnings per share. Equities research analysts expect that ServiceNow Inc. will post $0.65 earnings per share for the current year.

In related news, insider Frederic B. Luddy sold 195,000 shares of the stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $76.01, for a total transaction of $14,821,950.00. Following the completion of the sale, the insider now directly owns 155,249 shares of the company’s stock, valued at $11,800,476.49. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Daniel Mcgee sold 27,814 shares of the stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $74.72, for a total transaction of $2,078,262.08. The disclosure for this sale can be found here.

Other hedge funds have added to or reduced their stakes in the company. Marshall Wace LLP acquired a new stake in ServiceNow during the fourth quarter valued at approximately $1,408,000. Suntrust Banks Inc. acquired a new stake in ServiceNow during the fourth quarter valued at approximately $1,486,000. Utah Retirement Systems raised its stake in ServiceNow by 0.4% in the fourth quarter. Utah Retirement Systems now owns 27,600 shares of the company’s stock valued at $2,389,000 after buying an additional 100 shares in the last quarter. Advisors Asset Management Inc. raised its stake in ServiceNow by 963.6% in the fourth quarter. Advisors Asset Management Inc. now owns 31,109 shares of the company’s stock valued at $2,693,000 after buying an additional 28,184 shares in the last quarter. Finally, Airain ltd acquired a new stake in ServiceNow during the fourth quarter valued at approximately $3,561,000.

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 and business management solutions that address the needs of various departments within an enterprise, including information technology (IT), human resources (HR), facilities, field service, marketing, customer service, security, legal and finance.

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