ServiceNow, Inc. (NYSE:NOW – Get Rating) – Stock analysts at Jefferies Financial Group dropped their FY2022 earnings per share (EPS) estimates for shares of ServiceNow in a research report issued to clients and investors on Monday. , October 24th. Jefferies Financial Group analyst S. Samana now expects that the information technology services provider will post earnings of $1.71 per share for the year, down from their previous forecast of $1.75. The consensus estimate for ServiceNow’s current full-year earnings is $1.71 per share. Jefferies Financial Group also issued estimates for ServiceNow’s Q4 2022 earnings at $0.62 EPS, Q3 2023 earnings at $0.51 EPS, Q4 2023 earnings at $0.62 EPS and FY2023 earnings at $2.36 EPS.
ServiceNow (NYSE:NOW – Get Rating) last announced its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share (EPS) 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 analyst estimates of $1.76 billion. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. ServiceNow’s quarterly revenue was up 24.3% on a year-over-year basis. During the same period last year, the company posted $0.38 EPS.
NOW has been the subject of many other reports. JPMorgan Chase & Co. assumed. coverage on ServiceNow in a report on Tuesday, October 11th. They set an “overweight” rating and a $460.00 target price on the stock. Truist Financial decreased their price objective on ServiceNow from $600.00 to $550.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Morgan Stanley reduced their price target on ServiceNow from $556.00 to $540.00 and set an “overweight” rating for the company in a report on Wednesday, October 19th. JMP Securities reduced their price target on ServiceNow from $705.00 to $553.00 and set a “market outperform” rating for the company in a report on Thursday, July 28th. Finally, Royal Bank of Canada cut their price objective on ServiceNow from $550.00 to $500.00 and set an “outperform” rating on the stock in a research note on Monday, October 17th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-nine have assigned a buy rating to the stock. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $569.09.
ServiceNow Stock Performance
NOW stock opened at $366.41 on Wednesday. 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 stock has a market capitalization of $74.01 billion, a price-to-earnings ratio of 402.65, a PEG ratio of 7.35 and a beta of 0.98. ServiceNow has a 1 year low of $337.00 and a 1 year high of $707.60. The stock’s fifty day moving average is $411.26 and its two hundred day moving average is $449.08.
Insiders Place Their Bets
In other ServiceNow news, Director Frederic B. Luddy sold 6,600 shares of ServiceNow stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $385.46, for a total transaction of $2,544,036.00. Following the transaction, the director now directly owns 31,800 shares of the company’s stock, valued at approximately $12,257,628. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Frederic B. Luddy sold 6,600 shares of ServiceNow stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $385.46, for a total value of $2,544,036.00. Following the completion of the transaction, the director now directly owns 31,800 shares of the company’s stock, valued at approximately $12,257,628. The transaction was disclosed in a filing with the SEC, which is accessible via this hyperlink. Also, General Counsel Russell S. Elmer sold 2,666 shares of ServiceNow 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 directly owns 6,627 shares of the company’s stock, valued at $2,801,895.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,922 shares of company stock valued at $14,410,327. 0.28% of the stock is currently owned by company insiders.
Institutional Trading Services Today
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NOW. RB Capital Management LLC raised its position in ServiceNow by 25.2% in the 1st quarter. RB Capital Management LLC now owns 954 shares of the information technology services provider’s stock valued at $531,000 after buying an additional 192 shares in the last quarter. AdvisorNet Financial Inc raised its position in ServiceNow by 419.2% in the 1st quarter. AdvisorNet Financial Inc now owns 379 shares of the information technology services provider’s stock valued at $211,000 after buying an additional 306 shares during the last quarter. Ritholtz Wealth Management increased its position in ServiceNow by 7.0% in the 1st quarter. Ritholtz Wealth Management now owns 1,005 shares of the information technology services provider’s stock valued at $560,000 after buying an additional 66 shares in the last quarter. Wealthcare Advisory Partners LLC increased its holdings in ServiceNow by 69.8% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,610 shares of the information technology services provider’s stock valued at $897,000 after buying an additional 662 shares in the last quarter. Finally, IFM Investors Pty Ltd boosted its holdings in ServiceNow by 20.0% in the 1st quarter. IFM Investors Pty Ltd now owns 31,670 shares of the information technology services provider’s stock valued at $17,637,000 after buying an additional 5,288 shares during the last quarter. 87.49% of the stock is owned by institutional investors.
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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