Zacks: Analysts Anticipate ServiceNow Inc (NYSE:NOW) Will Announce Quarterly Sales of $830.81 Million

Brokerages expect ServiceNow Inc (NYSE:NOW) to report $830.81 million in sales for the current quarter, Zacks Investment Research reports. Twelve analysts have provided estimates for ServiceNow’s earnings. The highest sales estimate is $835.40 million and the lowest is $826.49 million. ServiceNow posted sales of $631.06 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 31.7%. The company is scheduled to announce its next quarterly earnings results on Wednesday, July 24th.

According to Zacks, analysts expect that ServiceNow will report full-year sales of $3.44 billion for the current fiscal year, with estimates ranging from $3.43 billion to $3.47 billion. For the next fiscal year, analysts forecast that the company will post sales of $4.41 billion, with estimates ranging from $4.36 billion to $4.50 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover ServiceNow.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.10. ServiceNow had a negative net margin of 1.38% and a positive return on equity of 1.64%. The business had revenue of $788.93 million for the quarter, compared to analysts’ expectations of $768.09 million. During the same quarter last year, the firm earned $0.56 EPS. The firm’s revenue for the quarter was up 33.9% compared to the same quarter last year.

Several equities analysts have commented on the stock. Piper Jaffray Companies lifted their target price on shares of ServiceNow from $230.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Canaccord Genuity lifted their target price on shares of ServiceNow from $240.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. UBS Group lifted their target price on shares of ServiceNow from $271.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. JMP Securities lifted their target price on shares of ServiceNow from $225.00 to $280.00 and gave the stock a “market outperform” rating in a research report on Thursday, April 25th. Finally, Credit Suisse Group lifted their target price on shares of ServiceNow from $225.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $270.68.

Shares of ServiceNow stock traded down $1.54 during mid-day trading on Monday, hitting $272.25. 1,015,489 shares of the stock were exchanged, compared to its average volume of 1,370,905. ServiceNow has a 12 month low of $147.63 and a 12 month high of $281.74. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.88. The stock has a market cap of $50.79 billion, a P/E ratio of 1,361.25, a P/E/G ratio of 20.19 and a beta of 1.41.

In related news, insider Patricia L. Wadors sold 1,559 shares of ServiceNow stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $263.61, for a total value of $410,967.99. Following the completion of the transaction, the insider now directly owns 3,093 shares in the company, valued at approximately $815,345.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David Schneider sold 3,414 shares of ServiceNow stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $243.00, for a total transaction of $829,602.00. Following the completion of the transaction, the insider now owns 50,932 shares of the company’s stock, valued at $12,376,476. The disclosure for this sale can be found here. Insiders sold a total of 119,018 shares of company stock valued at $31,329,144 over the last quarter. 1.00% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in NOW. Cerity Partners LLC boosted its position in shares of ServiceNow by 3.6% in the 4th quarter. Cerity Partners LLC now owns 1,280 shares of the information technology services provider’s stock worth $228,000 after buying an additional 45 shares in the last quarter. Cigna Investments Inc. New lifted its holdings in shares of ServiceNow by 2.0% during the 1st quarter. Cigna Investments Inc. New now owns 2,652 shares of the information technology services provider’s stock worth $654,000 after acquiring an additional 53 shares during the period. Aft Forsyth & Company Inc. lifted its holdings in shares of ServiceNow by 2.2% during the 4th quarter. Aft Forsyth & Company Inc. now owns 2,575 shares of the information technology services provider’s stock worth $458,000 after acquiring an additional 55 shares during the period. Sandy Spring Bank lifted its holdings in shares of ServiceNow by 118.0% during the 1st quarter. Sandy Spring Bank now owns 109 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 59 shares during the period. Finally, Castle Rock Wealth Management LLC lifted its holdings in shares of ServiceNow by 3.5% during the 4th quarter. Castle Rock Wealth Management LLC now owns 1,815 shares of the information technology services provider’s stock worth $414,000 after acquiring an additional 61 shares during the period. Institutional investors and hedge funds own 93.08% of the company’s stock.

ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Earnings History and Estimates for ServiceNow (NYSE:NOW)

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