ServiceNow, Inc. (NYSE: NOW-Get Rating)-Analysts at Jefferies Financial Group cut their earnings per share (EPS) estimates for Q2 2023 for ServiceNow in a research note released on Monday, May 23rd. Jefferies Financial Group analyst S. Samana today forecasts that the information technology services provider will earn $ 0.49 per share for the quarter, down from their previous forecast of $ 0.56. Jefferies Financial Group also released estimates for ServiceNow’s FY2023 earnings at $ 2.71 EPS.
ServiceNow (NYSE: NOW-Get Rating) last posted its quarterly earnings results on Wednesday, April 27th. The information technology service provider reported $ 1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $ 1.70 by $ 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 for the quarter, compared to analysts ’expectations of $ 1.70 billion. At the same time last year, the company posted $ 0.50 profit per share. The company’s quarterly revenue rose 26.6% on a year-over-year basis.
Several other analysts also weighed in NOW. Deutsche Bank Aktiengesellschaft lowered their target price on ServiceNow shares from $ 700.00 to $ 680.00 in a research note on Thursday, April 28th. Exane BNP Paribas downgraded ServiceNow shares from a “neutral” rating to an “underperform” rating in a research report on Tuesday, March 29th. Canaccord Genuity Group lowered their target price on ServiceNow shares from $ 715.00 to $ 615.00 and set a “buy” rating for the company in a research report on Thursday, January 27th. StockNews.com began coverage of ServiceNow components in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Oppenheimer lowered their target price on ServiceNow shares from $ 660.00 to $ 600.00 in a research report on Thursday, April 28th. Two equities research analysts rated the stock with a sell rating, three gave a hold rating and twenty-seven assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average “Buy” rating and a consensus target price of $ 643.16.
NOW the stock opened at $ 419.65 on Wednesday. The company has a debt-to-equity ratio of 0.37, current ratio of 1.12 and quick ratio of 1.12. ServiceNow has a 1-year low of $ 406.47 and a 1-year high of $ 707.60. The company has a fifty-day average turnover price of $ 502.40 and a two-hundred-day average turnover price of $ 564.28. The company has a market cap of $ 84.12 billion, a price-to-earnings ratio of 381.50, a PEG ratio of 8.35 and a beta of 1.09.
Several large investors have recently made changes to their positions NOW. Raised by Vanguard Group Inc. its position in ServiceNow by 1.9% in the first quarter. Vanguard Group Inc. now owns 16,295,607 shares of the information technology services provider’s stock worth $ 9,074,862,000 after purchasing an additional 306,106 shares during the period. Powered by BlackRock Inc. its holdings in ServiceNow were up 0.4% in the fourth quarter. BlackRock Inc. now owns 16,190,700 shares of the information technology services provider’s stock worth $ 10,509,544,000 after buying an additional 65,623 shares last quarter. State Street Corp strengthened its holdings in ServiceNow by 3.2% in the fourth quarter. State Street Corp. now owns 7,870,165 shares of the information technology services provider’s stock worth $ 5,108,603,000 after buying an additional 241,296 shares last quarter. Morgan Stanley boosted its holdings in ServiceNow by 1.2% in the second quarter. Morgan Stanley now owns 7,277,395 shares of the information technology services provider’s stock worth $ 3,999,292,000 after buying an additional 86,441 shares last quarter. Finally, Polen Capital Management LLC boosted its holdings in ServiceNow by 2.1% in the first quarter. Polen Capital Management LLC now owns 3,219,600 shares of the information technology services provider’s stock worth $ 1,792,963,000 after buying an additional 67,385 shares last quarter. Institutional investors own 87.20% of the company’s stock.
In other news, insider Jacqueline P. Canney sold 580 shares of the company’s stock in a transaction on Monday, May 9th. The stock was sold at an average price of $ 431.51, for a total value of $ 250,275.80. Following the completion of the sale, the insider now directly owns 189 shares in the company, valued at $ 81,555.39. The sale was disclosed in a filing with the SEC, which can be accessed via this link. Also, insider Paul John Smith sold 412 shares of the company’s stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $ 427.17, for a total value of $ 175,994.04. Following the completion of the sale, the insider now owns 1,755 shares of the company’s stock, valued at $ 749,683.35. The disclosure for this sale can be found here. Over the past ninety days, insiders have sold 18,428 shares of the company’s stock worth $ 10,195,278. 0.35% of the stock is owned by company insiders.
ServiceNow Company Profile (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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