ServiceNow, Inc. (NYSE: NOW-Get Rating)-Research analysts at Jefferies Financial Group lowered their estimates on Q2 2022 EPS for shares of ServiceNow in a research note released on Monday, May 23rd. Jefferies Financial Group analyst S. Samana now expects the information technology service provider to post earnings per share of $ 0.18 for the quarter, down from their previous estimate of $ 0.19. Jefferies Financial Group also released estimates for ServiceNow revenues in Q3 2022 at $ 0.43 EPS, Q3 2023 revenues at $ 0.66 EPS, Q4 2023 revenues at $ 0.91 EPS and FY2024 revenues at $ 3.85 EPS.
ServiceNow (NYSE: NOW-Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The information technology service provider reported $ 1.73 EPS for the quarter, ahead of analysts ’consensus estimates of $ 1.70 of $ 0.03. ServiceNow has a net margin of 3.56% and a return on equity of 8.66%. The company had revenue of $ 1.72 billion in the quarter, compared to analyst estimates of $ 1.70 billion. In the same quarter last year, the business posted $ 0.50 EPS. The company’s revenue rose 26.6% on a year-on-year basis.
NOW has been the subject of many other reports. Oppenheimer lowered their target price on ServiceNow shares from $ 660.00 to $ 600.00 in a research note on Thursday, April 28th. Piper Sandler upgraded shares of ServiceNow from a “neutral” rating to an “overweight” rating and set a $ 650.00 target price on the stock in a research report on Thursday, 27th of January. Cowen reduced their target price on ServiceNow shares from $ 725.00 to $ 695.00 in a research report on Thursday, April 28th. Barclays cut their target price on ServiceNow shares from $ 652.00 to $ 613.00 in a report on Thursday, April 28th. Finally, StockNews.com assessed coverage on parts of ServiceNow in a report on Thursday, March 31st. They set a “hold” rating for the company. Two investment analysts rated the stock with a sell rating, three assigned a hold rating and twenty-seven assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average “Buy” rating and a consensus target price of $ 653.31.
NOW the stock opened at $ 430.12 on Tuesday. The company has a market cap of $ 86.22 billion, a price-to-earnings ratio of 391.02, a PEG ratio of 8.35 and a beta of 1.09. The company has a 50-day moving average of $ 504.96 and a two-hundred-day moving average of $ 565.30. The company has a fast ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.37. ServiceNow has a 12-month low of $ 406.47 and a 12-month high of $ 707.60.
Some hedge funds have recently added or reduced their stakes in the stock. CLARET ASSET MANAGEMENT Corp. acquired a new stake in ServiceNow in the third quarter worth approximately $ 204,000. DNB Asset Management AS boosted its stake in ServiceNow shares by 6.7% in the 4th quarter. DNB Asset Management AS now owns 32,989 shares of the information technology services provider’s stock worth $ 21,413,000 after buying an additional 2,085 shares in the last quarter. Lloyd Advisory Services LLC. increased its stake in shares of ServiceNow by 22.5% in the 4th quarter. Lloyd Advisory Services LLC. now owns 125 shares of the information technology services provider’s stock worth $ 81,000 after buying an additional 23 shares in the last quarter. Zacks Investment Management boosted its stake in ServiceNow shares by 1,453.0% in the 3rd quarter. Zacks Investment Management now owns 13,511 shares of the information technology services provider’s stock worth $ 8,408,000 after buying an additional 12,641 shares in the last quarter. Finally, the New York State Teachers Retirement System increased its stake in ServiceNow shares by 0.3% in the 4th quarter. The New York State Teachers Retirement System now owns 225,098 shares of the information technology services provider’s stock worth $ 146,113,000 after buying an additional 767 shares in the last quarter. Institutional investors and hedge funds own 87.20% of the company’s stock.
In related news, insider Paul John Smith sold 125 shares of the company’s stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $ 446.04, for a total value of $ 55,755.00. Following the transaction, the insider now directly owns 1,446 shares in the company, valued at $ 644,973.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at this hyperlink. Also, CFO Gina Mastantuono sold 193 shares of the company’s stock in a transaction dated Tuesday, April 12th. The shares were sold at an average price of $ 525.00, for a total transaction of $ 101,325.00. Following the completion of the transaction, the chief financial officer now owns 4,011 shares in the company, valued at $ 2,105,775. The disclosure for this sale can be found here. Insiders have sold 18,428 shares of the company’s stock worth $ 10,195,278 over the past three months. Insiders own 0.35% of the company’s stock.
About ServiceNow (Get a Rating)
ServiceNow, Inc. provides enterprise cloud computing solutions that define, develop, integrate, manage, and automate services for businesses around the world. It runs 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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