Brokerages forecast that ServiceNow Inc (NYSE:NOW) will report $573.48 million in sales for the current fiscal quarter, according to Zacks. Ten analysts have made estimates for ServiceNow’s earnings, with the highest sales estimate coming in at $584.90 million and the lowest estimate coming in at $569.10 million. ServiceNow posted sales of $416.78 million in the same quarter last year, which would indicate a positive year over year growth rate of 37.6%. The business is expected to issue its next earnings results on Wednesday, April 25th.
On average, analysts expect that ServiceNow will report full year sales of $573.48 million for the current fiscal year, with estimates ranging from $2.53 billion to $2.60 billion. For the next year, analysts forecast that the business will report sales of $3.27 billion per share, with estimates ranging from $3.21 billion to $3.34 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover ServiceNow.
ServiceNow (NYSE:NOW) last released its 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. ServiceNow had a negative return on equity of 23.78% and a negative net margin of 7.71%. The company had revenue of $546.37 million for the quarter, compared to the consensus estimate of $532.74 million. During the same quarter last year, the business posted $0.25 EPS. ServiceNow’s quarterly revenue was up 41.7% compared to the same quarter last year.
A number of brokerages have recently weighed in on NOW. Mizuho reiterated a “buy” rating and set a $190.00 price target on shares of ServiceNow in a research report on Thursday. Argus increased their price target on ServiceNow to $201.00 and gave the company a “buy” rating in a research note on Tuesday. William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a research note on Friday, March 9th. UBS Group set a $180.00 price target on ServiceNow and gave the company a “buy” rating in a research note on Thursday, March 1st. Finally, Barclays raised their price objective on ServiceNow from $158.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $151.83.
In other news, Director Susan L. Bostrom sold 19,673 shares of ServiceNow stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $142.24, for a total value of $2,798,287.52. Following the completion of the transaction, the director now owns 7,079 shares in the company, valued at $1,006,916.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frederic B. Luddy sold 32,500 shares of ServiceNow stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $173.95, for a total transaction of $5,653,375.00. Following the completion of the transaction, the director now owns 260,791 shares of the company’s stock, valued at approximately $45,364,594.45. The disclosure for this sale can be found here. Insiders sold 660,308 shares of company stock valued at $95,837,498 in the last quarter. 3.30% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. raised its position in ServiceNow by 6.5% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 305,581 shares of the information technology services provider’s stock worth $35,915,000 after purchasing an additional 18,537 shares during the last quarter. Investec Asset Management LTD raised its position in shares of ServiceNow by 42.9% during the 3rd quarter. Investec Asset Management LTD now owns 66,635 shares of the information technology services provider’s stock valued at $7,832,000 after acquiring an additional 20,014 shares during the last quarter. Jasper Ridge Partners L.P. acquired a new position in shares of ServiceNow in the 3rd quarter valued at $1,525,000. British Airways Pensions Investment Management Ltd grew its holdings in shares of ServiceNow by 84.5% in the 3rd quarter. British Airways Pensions Investment Management Ltd now owns 218,243 shares of the information technology services provider’s stock valued at $25,643,000 after buying an additional 99,938 shares during the period. Finally, Zions Bancorporation grew its holdings in shares of ServiceNow by 16,365.4% in the 3rd quarter. Zions Bancorporation now owns 4,281 shares of the information technology services provider’s stock valued at $503,000 after buying an additional 4,255 shares during the period.
Shares of ServiceNow (NYSE NOW) traded down $1.51 during trading on Monday, hitting $173.83. The stock had a trading volume of 1,660,000 shares, compared to its average volume of 2,190,000. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a market cap of $30,370.00, a PE ratio of 267.43, a price-to-earnings-growth ratio of 38.82 and a beta of 1.14. ServiceNow has a fifty-two week low of $83.42 and a fifty-two week high of $176.56.
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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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