ServiceNow, Inc. (NYSE:NOW – Get Rating) – Jefferies Financial Group decreased their Q3 2022 earnings per share estimates for ServiceNow in a report issued on Monday, October 24th. Jefferies Financial Group analyst S. Samana now forecasts that the information technology services provider will post earnings of $0.40 per share for the quarter, down from their prior forecast of $0.41. The consensus estimate for ServiceNow’s current full-year earnings is $1.71 per share. Jefferies Financial Group also issued estimates for ServiceNow’s Q1 2023 earnings at $0.72 EPS, Q2 2023 earnings at $0.52 EPS and FY2024 earnings at $3.40 EPS.
Several other research firms recently commented on NOW. Barclays cut their price target on ServiceNow to $496.00 in a research report on Thursday. Truist Financial cut their price target on ServiceNow from $550.00 to $525.00 in a research report on Thursday. Guggenheim cut their price target on ServiceNow to $500.00 in a research report on Thursday. Cowen boosted their price target on ServiceNow from $510.00 to $520.00 in a report on Thursday. Finally, Piper Sandler cut their price target on ServiceNow from $600.00 to $550.00 and set an “overweight” rating for the company in a report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and thirty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $564.82.
Stock ServiceNow 13.4 %
NOW opened at $415.67 on Thursday. The business’s fifty day moving average is $409.78 and its two hundred day moving average is $448.85. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $83.97 billion, a price-to-earnings ratio of 456.78, a PEG ratio of 7.52 and a beta of 0.98. ServiceNow has a one year low of $337.00 and a one year high of $707.60.
ServiceNow (NYSE:NOW – Get Rating) last posted its quarterly earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same period last year, the business earned $0.38 earnings per share.
Institutional Entry and Exit
Institutional investors and hedge funds have recently bought and sold shares of the business. OLD Second National Bank of Aurora purchased a new position in ServiceNow during the 1st quarter valued at about $28,000. Tortoise Investment Management LLC lifted its holdings in ServiceNow by 55.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 62 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 22 shares during the last quarter. High Net Worth Advisory Group LLC purchased a new position in ServiceNow during the 1st quarter valued at approximately $29,000. Vigilant Capital Management LLC lifted its holdings in ServiceNow by 300.0% in the 3rd quarter. Vigilant Capital Management LLC now owns 96 shares of the information technology services provider’s stock valued at $36,000 after buying an additional 72 shares during the last quarter. Finally, GoalVest Advisory LLC purchased a new position in ServiceNow during the 1st quarter valued at approximately $43,000. Hedge funds and other institutional investors own 87.49% of the company’s stock.
Insiders Place Their Bets
In other news, Director Frederic B. Luddy sold 6,600 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $465.86, for a total value of $3,074,676.00. Following the completion of the sale, the director now owns 33,000 shares of the company’s stock, valued at $15,373,380. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Russell S. Elmer sold 2,666 shares of the stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $422.80, for a total value of $1,127,184.80. Following the completion of the transaction, the general counsel now owns 6,627 shares of the company’s stock, valued at $2,801,895.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available on the SEC website. Also, Director Frederic B. Luddy sold 6,600 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $465.86, for a total value of $3,074,676.00. Following the completion of the transaction, the director now directly owns 33,000 shares of the company’s stock, valued at approximately $15,373,380. The disclosure for this sale can be found here. Insiders have sold 29,393 shares of company stock valued at $12,856,570 over the last three months. 0.28% of the stock is owned by insiders.
About ServiceNow
(Get Rating)
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.
Featured Stories
Receive News and Ratings for ServiceNow Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for ServiceNow and related companies with our FREE daily email newsletter of MarketBeat.com.