ServiceNow, Inc. (NYSE: NOW)-Equities researchers at KeyCorp released their Q1 2023 earnings estimates for ServiceNow in a note issued to investors on Thursday, January 27th. KeyCorp analyst M. Turits expects the information technology service provider to post earnings of $ 0.70 per share for the quarter. KeyCorp currently has an “Overweight” rating and a $ 765.00 price target on the stock. KeyCorp also released estimates for ServiceNow revenues in Q2 2023 at $ 0.56 EPS, revenues in Q3 2023 at $ 0.93 EPS and revenues in Q4 2023 at $ 0.91 EPS.
ServiceNow (NYSE: NOW) last released its quarterly earnings data on Wednesday, January 26th. The information technology service provider reported $ 1.46 earnings per share (EPS) for the quarter, beating Thomson Reuters ’consensus estimate of $ 1.43 by $ 0.03. ServiceNow had a return on equity of 9.31% and a net margin of 3.99%. In the same period last year, the company earned $ 0.16 EPS.
NOW has been the subject of many other research reports. Truist Financial raised their target price on ServiceNow from $ 640.00 to $ 700.00 and gave the company a “buy” rating in a report on Thursday, October 28th. Bank of America lowered their target price on ServiceNow from $ 725.00 to $ 680.00 and set a “buy” rating on the stock in a research report on Thursday, January 27th. Morgan Stanley raised their target price on ServiceNow from $ 807.00 to $ 810.00 and gave the company an “overweight” rating in a research report on Thursday, January 27th. JMP Securities raised their price target on ServiceNow from $ 639.00 to $ 705.00 and gave the stock a “market outperform” rating in a research note on Monday, October 11th. Finally, they raised their target price on ServiceNow from $ 650.00 to $ 715.00 and gave the stock a “buy” rating in a research report on Thursday, October 28th. Two investment analysts rated the stock with a hold rating and twenty-eight gave the company a buy rating. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $ 694.07.
NYSE: NOW shares opened at $ 585.78 on Monday. The company has a market capitalization of $ 116.57 billion, a PE ratio of 537.41, a P/E/G ratio of 9.60 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, current ratio of 1.13 and quick ratio of 1.13. The business has a 50-day moving average of $ 601.68 and a two-hundred-day moving average of $ 624.34. ServiceNow has a 12 -month low of $ 448.27 and a 12 -month high of $ 707.60.
Several institutional investors and hedge funds have recently bought and sold shares of NOW. Sugarloaf Wealth Management LLC increased its holdings in ServiceNow by 150.0% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the information technology services provider’s stock worth $ 25,000 after purchasing an additional 24 shares during the period. Eagle Bay Advisors LLC increased its position in ServiceNow shares by 75.0% during the 3rd quarter. Eagle Bay Advisors LLC now owns 42 shares of the information technology services provider’s stock worth $ 27,000 after buying an additional 18 shares in the last quarter. Baystate Wealth Management LLC increased its position in ServiceNow shares by 60.0% during the 3rd quarter. Baystate Wealth Management LLC now owns 48 shares of the information technology services provider’s stock worth $ 30,000 after buying an additional 18 shares in the last quarter. PFG Private Wealth Management LLC bought a new position in shares of ServiceNow in the 3rd quarter worth approximately $ 31,000. Finally, MV Capital Management Inc. expanded. its stake in ServiceNow shares was 96.2% in the 3rd quarter. MV Capital Management Inc. now owns 51 shares of the information technology services provider’s stock worth $ 32,000 after purchasing an additional 25 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.
In related news, Director Dennis Woodside bought 2,861 shares of the company’s stock in a transaction dated Monday, Nov. 8th. The shares were purchased at an average price of $ 694.58 per share, with a total value of $ 1,987,193.38. The transaction is disclosed in a document filed with the SEC, which can be accessed via this hyperlink. Also, Director Frederic B. Luddy sold 1,355 shares of the company’s stock in a transaction that occurred on Tuesday, December 7th. The stock was sold at an average price of $ 657.40, for a total transaction of $ 890,777.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,655 shares of the company’s stock worth $ 11,696,731. 0.35% of the stock is owned by company insiders.
About ServiceNow
ServiceNow, Inc. is engaged in providing enterprise cloud computing solutions. The company delivers digital workflows on an enterprise cloud platform called Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. It offers its solutions for industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil and gas, education, and consumer products. .
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