Wall Street brokerages expect ServiceNow Inc (NYSE:NOW) to post $0.36 earnings per share for the current fiscal quarter, according to Zacks. Ten analysts have issued estimates for ServiceNow’s earnings, with the lowest EPS estimate coming in at $0.33 and the highest estimate coming in at $0.41. ServiceNow posted earnings per share of $0.24 in the same quarter last year, which would suggest a positive year-over-year growth rate of 50%. The firm is expected to issue its next quarterly earnings report on Wednesday, April 25th.
According to Zacks, analysts expect that ServiceNow will report full-year earnings of $1.96 per share for the current year, with EPS estimates ranging from $1.77 to $2.19. For the next year, analysts expect that the firm will post earnings of $2.93 per share, with EPS estimates ranging from $2.35 to $3.40. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover ServiceNow.
ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 31st. The information technology services provider reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. The business had revenue of $546.37 million during the quarter, compared to analysts’ expectations of $532.74 million. ServiceNow had a negative return on equity of 23.78% and a negative net margin of 7.71%. The business’s quarterly revenue was up 41.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.25 earnings per share.
A number of analysts have commented on NOW shares. Mizuho restated a “buy” rating and issued a $160.00 price target (up previously from $140.00) on shares of ServiceNow in a research report on Monday, January 22nd. JPMorgan Chase & Co. cut ServiceNow from an “overweight” rating to a “neutral” rating and set a $138.00 price target for the company. in a research report on Tuesday, December 12th. BMO Capital Markets increased their target price on ServiceNow from $133.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Cowen reiterated a “buy” rating and set a $160.00 target price on shares of ServiceNow in a research report on Monday, December 11th. Finally, Evercore ISI reiterated a “buy” rating and set a $170.00 target price on shares of ServiceNow in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $149.72.
Shares of ServiceNow (NOW) opened at $172.76 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.15 and a quick ratio of 1.66. The company has a market capitalization of $30,221.35, a PE ratio of -198.57, a price-to-earnings-growth ratio of 39.36 and a beta of 1.14. ServiceNow has a 1 year low of $83.42 and a 1 year high of $175.65.
In other ServiceNow news, Director Frank Slootman sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $160.19, for a total transaction of $16,019,000.00. Following the completion of the transaction, the director now owns 195,076 shares in the company, valued at approximately $31,249,224.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Scarpelli sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $147.12, for a total value of $3,678,000.00. Following the transaction, the chief financial officer now owns 94,521 shares of the company’s stock, valued at approximately $13,905,929.52. The disclosure for this sale can be found here. Insiders have sold a total of 627,808 shares of company stock valued at $90,184,123 in the last 90 days. 3.30% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NOW. Ark Investment Management LLC grew its holdings in ServiceNow by 113.3% during the 2nd quarter. Ark Investment Management LLC now owns 7,713 shares of the information technology services provider’s stock valued at $818,000 after buying an additional 4,097 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of ServiceNow by 3.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 158,144 shares of the information technology services provider’s stock valued at $16,764,000 after purchasing an additional 4,803 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of ServiceNow by 12.8% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 50,000 shares of the information technology services provider’s stock valued at $5,877,000 after purchasing an additional 5,693 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of ServiceNow in the 3rd quarter valued at approximately $482,000. Finally, Canada Pension Plan Investment Board lifted its stake in shares of ServiceNow by 2,311.6% in the 3rd quarter. Canada Pension Plan Investment Board now owns 103,674 shares of the information technology services provider’s stock valued at $12,185,000 after purchasing an additional 99,375 shares during the last quarter.
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ServiceNow Company Profile
ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.
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