ServiceNow Inc (NOW): Today's Featured Technology Winner

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

ServiceNow ( NOW) pushed the Technology sector higher today making it today's featured technology winner. The sector as a whole closed the day down 0.9%. By the end of trading, ServiceNow rose $0.98 (1.6%) to $62.46 on light volume. Throughout the day, 790,037 shares of ServiceNow exchanged hands as compared to its average daily volume of 1,500,100 shares. The stock ranged in a price between $60.65-$62.48 after having opened the day at $61.09 as compared to the previous trading day's close of $61.48. Other companies within the Technology sector that increased today were: Silicom ( SILC), up 29.6%, xG Technology ( XGTI), up 25.6%, Logitech International S.A ( LOGI), up 22.8% and RIT Technologies ( RITT), up 22.3%.

ServiceNow, Inc. engages in the provision of cloud-based services to automate enterprise IT operations primarily in North America, Europe, the Middle East, Africa, and the Asia Pacific. ServiceNow has a market cap of $8.4 billion and is part of the computer software & services industry. Shares are up 9.8% year to date as of the close of trading on Wednesday. Currently there are 9 analysts that rate ServiceNow a buy, no analysts rate it a sell, and 1 rates it a hold.

TheStreet Ratings rates ServiceNow as a sell. Among the areas we feel are negative, one of the most important has been generally deteriorating net income.

On the negative front, Luna Innovations ( LUNA), down 31.0%, Zhone Technologies ( ZHNE), down 25.6%, KongZhong Corporation ( KONG), down 15.0% and Alvarion ( ALVR), down 14.9% , were all laggards within the technology sector with Hewlett-Packard ( HPQ) being today's technology sector laggard.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the technology sector could consider Technology Select Sector SPDR ( XLK) while those bearish on the technology sector could consider ProShares Ultra Short Technology ( REW).

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