According to a Zacks Investment Research survey, analysts expect ServiceNow, Inc.’s (NYSE:NOW) earnings per share for this fiscal quarter to be $1.07. Nine analysts provided estimates of ServiceNow’s revenue. The lowest EPS estimate is $1.01 and the highest is $1.14. ServiceNow announced that its earnings per share for the same quarter last year were US$0.96, an increase of 11.5% year-on-year. The business plans to release its next quarterly earnings report on February 3 (Wednesday).
According to Zacks, analysts expect ServiceNow to report full-year earnings per share of US$4.53 this year, with earnings per share estimated to be between US$4.30 and US$4.63. For the next fiscal year, analysts predict that the company will report earnings per share of US$5.58, with earnings per share estimated to be between US$5.07 and US$6.08. The Zacks EPS average is based on a survey of Seller Research Analysts conducted by ServiceNow.
ServiceNow (NYSE:NOW) recently announced its quarterly earnings data on Wednesday, October 28. The information technology service provider reported earnings per share (EPS) of US$1.21 for the quarter, which was US$0.18 higher than the consensus estimate of US$1.03. ServiceNow’s return on equity is 9.79% and the net profit margin is 16.60%.
Some brokerage companies recently released reports on NOW. JMP Securities raised ServiceNow’s target price from US$460.00 to US$534.00 in a research report on Friday, October 2nd, and gave the stock an “outperform” rating. Morgan Stanley (Morgan Stanley) in a research report on Thursday raised ServiceNow’s stock rating from “equal” to “overweight” and set a target price of $652.00 for the stock. Royal Bank of Canada raised its price target on ServiceNow shares from $510.00 to $600.00 and rated the company as “outperform” in its research report on Tuesday, October 13. Wells Fargo & Company (Wells Fargo & Company) raised the target price of ServiceNow stock from US$565.00 to US$625.00 and rated the company as “overweight” in a research report on Thursday, October 29. Finally, Edward Jones began reporting on ServiceNow’s stock in a research report on Wednesday, October 21st. They set a “buy” rating on the stock. Five investment analysts rated the stock as “hold”, 22 of them issued a “buy” rating, and one of them rated the stock as strong. The stock’s current average rating is “Buy” and the average target price is $524.00.
In related news, General Russell S. Elmer, the legal counsel, sold 1,150 shares of the company in a transaction on Monday, November 2. The average price of the stock is US$499.21, and the total transaction price is US$574,091.50. After the transaction is completed, the general counsel now owns 7,077 shares of the company, valued at US$3,532,909.17. The transaction has been disclosed in the SEC legal documents and can be accessed through the SEC website. In addition, insider Fay Sien Goon sold 144 shares of the company in a transaction on Tuesday, August 18. The average price of the stock is US$439.70 and the total trading price is US$63,316.80. After the transaction is completed, insiders now own 1,552 shares of the company’s stock, valued at approximately US$682,414.40. The disclosure of this sale can be found here. In the last quarter, insiders sold 69,573 shares of the company’s stock worth $33,744,452. Insiders own 1.00% of the company’s shares.
Hedge funds have recently revised their holdings. Jacobi Capital Management LLC increased its stake in ServiceNow by 1,225.0% in the third quarter. Jacobi Capital Management LLC, after purchasing 49 additional shares in the previous quarter, now owns 53 shares of the information technology service provider, valued at $26,000. Prime Capital Investment Advisors LLC purchased new shares of ServiceNow for US$31,000 in the third quarter. Newfound Research LLC purchased new shares of ServiceNow for $38,000 in the third quarter. Washington Trust Company purchased new shares of ServiceNow for $39,000 in the second quarter. Finally, Hall Laurie J Trustee purchased new shares of ServiceNow for $39,000 in the third quarter. Hedge funds and other institutional investors own 90.05% of the company’s shares.
NOW’s stock opened at $508.01 on Monday. ServiceNow’s 12-month low is $238.93 and the 12-month high is $537.53. The 50-day moving average price of the stock is $503.48, and the 200-day moving average price is $436.96. The company’s current ratio is 1.40, quick ratio is 1.40, and debt-to-equity ratio is 0.64. The company’s market capitalization is US$99.11 billion, a P/E ratio of 143.91, a P/E ratio of 16.82, and a beta of 1.22.
About ServiceNow
ServiceNow, Inc provides enterprise cloud computing solutions that define, organize, integrate, manage and automate services for global enterprises. The company provides information technology (IT) service management applications; and digital workflow products for customer service, human resources, security operations, integrated risk management, and other corporate departments.
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Although COVID-19 became a fool of the stock market earlier this year, the stock market is picking up. The Dow Jones index hovered around 27,000 points, and the S&P 500 index traded around 3200 points. The trading price of S&P 500 stock is close to 23 times its annual income, which is still much higher than the historical average.
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