ServiceNow (NYSE:NOW – Get Rating) is scheduled to post its quarterly earnings results after the market closes on Wednesday, October 26th. Analysts expect ServiceNow to post earnings of $1.85 per share for the quarter. Individuals who wish to listen to the company’s earnings conference call can do so using this link.
ServiceNow (NYSE:NOW – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.08. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. In the same quarter last year, the business posted $0.38 earnings per share. On average, analysts expect ServiceNow to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.
ServiceNow Trading Up 2.3 %
ServiceNow stock opened at $356.79 on Wednesday. The company’s 50-day moving average price is $427.85 and its 200-day moving average price is $455.90. ServiceNow has a 1 year low of $337.00 and a 1 year high of $707.60. The stock has a market cap of $72.07 billion, a P/E ratio of 392.08, a PEG ratio of 6.97 and a beta of 0.98. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.12 and a quick ratio of 1.12.
Insiders Place Their Bets
In other news, Director Frederic B. Luddy sold 6,600 shares of the company’s stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $385.46, for a total transaction of $2,544,036.00. Following the transaction, the director now owns 31,800 shares in the company, valued at $12,257,628. The transaction was disclosed in a filing with the SEC, which is accessible via this hyperlink. In other news, Director Frederic B. Luddy sold 6,600 shares of the company’s stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $385.46, for a total transaction of $2,544,036.00. Following the transaction, the director now owns 31,800 shares in the company, valued at $12,257,628. The transaction was disclosed in a filing with the SEC, which is accessible via this hyperlink. Also, insider Lara Caimi sold 977 shares of the company’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $514.96, for a total transaction of $503,115.92. Following the transaction, the insider now owns 43 shares in the company, valued at approximately $22,143.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,922 shares of company stock valued at $14,410,327. 0.28% of the stock is owned by corporate insiders.
Hedge Fund Weighs In On Service Now
Several hedge funds and other institutional investors have recently bought and sold shares of NOW. Stockbridge Partners LLC raised its holdings in ServiceNow by 79.6% in the 1st quarter. Stockbridge Partners LLC now owns 483,554 shares of the information technology services provider’s stock valued at $269,286,000 after purchasing an additional 214,243 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in ServiceNow by 19.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 598,424 shares of the information technology services provider’s stock valued at $333,256,000 after buying an additional 96,808 shares during the period. Mariner LLC lifted its holdings in ServiceNow by 129.8% in the 1st quarter. Mariner LLC now owns 117,016 shares of the information technology services provider’s stock valued at $65,167,000 after purchasing an additional 66,101 shares during the period. Eaton Vance Management raised its holdings in ServiceNow by 17.2% in the 1st quarter. Eaton Vance Management now owns 295,852 shares of the information technology services provider’s stock valued at $164,757,000 after purchasing an additional 43,422 shares during the period. Finally, Capital Group Private Client Services Inc. raised its holdings in ServiceNow by 87.8% in the 1st quarter. Capital Group Private Client Services Inc. now owns 83,281 shares of the information technology services provider’s stock valued at $46,378,000 after purchasing an additional 38,942 shares during the period. Institutional investors and hedge funds own 87.49% of the company’s stock.
Wall Street Analysts weigh in
NOW has been the subject of several research reports. Citigroup reduced their price target on shares of ServiceNow from $600.00 to $575.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. JPMorgan Chase & Co. started coverage on shares of ServiceNow in a research report on Tuesday, October 11th. They issued an “overweight” rating and a $460.00 target price on the stock. Truist Financial decreased their price target on shares of ServiceNow from $600.00 to $550.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. Sanford C. Bernstein began coverage on shares of ServiceNow in a research report on Tuesday, July 19th. They issued an “outperform” rating and a $646.00 target price on the stock. Finally, Canaccord Genuity Group cut their price objective on shares of ServiceNow from $615.00 to $510.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $583.69.
ServiceNow Company Profile
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ServiceNow, Inc provides enterprise cloud computing solutions that define, build, integrate, manage, and automate services for businesses worldwide. It powers the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.
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