Wall Street analysts expect ServiceNow Inc (NYSE:NOW) to announce sales of $886.03 million for the current quarter, Zacks reports. Twelve analysts have issued estimates for ServiceNow’s earnings, with the highest sales estimate coming in at $893.53 million and the lowest estimate coming in at $880.30 million. ServiceNow reported sales of $673.10 million during the same quarter last year, which would suggest a positive year over year growth rate of 31.6%. The company is expected to announce its next earnings results on Wednesday, October 23rd.
According to Zacks, analysts expect that ServiceNow will report full-year sales of $3.46 billion for the current financial year, with estimates ranging from $3.45 billion to $3.47 billion. For the next financial year, analysts expect that the business will report sales of $4.44 billion, with estimates ranging from $4.38 billion to $4.50 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover ServiceNow.
ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.02. The firm had revenue of $833.90 million during the quarter, compared to analysts’ expectations of $831.50 million. ServiceNow had a return on equity of 4.29% and a net margin of 0.09%. The business’s quarterly revenue was up 32.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 EPS.
Several equities research analysts recently issued reports on the company. Bank of America reiterated a “buy” rating and issued a $330.00 price objective (up from $300.00) on shares of ServiceNow in a report on Thursday, July 25th. Deutsche Bank upped their price objective on ServiceNow from $285.00 to $305.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Northland Securities reiterated a “buy” rating and issued a $280.00 price objective on shares of ServiceNow in a report on Thursday, May 2nd. UBS Group boosted their target price on ServiceNow to $332.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, William Blair reissued an “outperform” rating on shares of ServiceNow in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $291.66.
In other news, insider David Schneider sold 3,559 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $269.08, for a total transaction of $957,655.72. Following the completion of the sale, the insider now directly owns 47,765 shares of the company’s stock, valued at approximately $12,852,606.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Fay Sien Goon sold 408 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $258.36, for a total value of $105,410.88. Following the sale, the insider now directly owns 41,777 shares of the company’s stock, valued at $10,793,505.72. The disclosure for this sale can be found here. Insiders sold 117,767 shares of company stock worth $32,107,343 over the last quarter. 1.00% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in NOW. Geode Capital Management LLC boosted its position in shares of ServiceNow by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 1,536,350 shares of the information technology services provider’s stock valued at $273,336,000 after acquiring an additional 55,767 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in ServiceNow by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 165,311 shares of the information technology services provider’s stock worth $29,442,000 after buying an additional 5,052 shares during the period. Nisa Investment Advisors LLC raised its holdings in ServiceNow by 1.4% during the 1st quarter. Nisa Investment Advisors LLC now owns 22,441 shares of the information technology services provider’s stock worth $5,531,000 after buying an additional 307 shares during the period. Financial Gravity Wealth Inc. acquired a new stake in ServiceNow during the 1st quarter worth approximately $25,000. Finally, Jupiter Wealth Management LLC acquired a new stake in shares of ServiceNow in the first quarter valued at approximately $237,000. 92.80% of the stock is owned by hedge funds and other institutional investors.
Shares of ServiceNow stock traded down $1.57 on Friday, hitting $263.07. The company’s stock had a trading volume of 2,478,075 shares, compared to its average volume of 1,839,143. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow has a 1 year low of $147.63 and a 1 year high of $303.17. The firm has a fifty day moving average price of $278.78 and a 200-day moving average price of $260.31. The company has a market capitalization of $49.62 billion, a price-to-earnings ratio of 1,315.35, a price-to-earnings-growth ratio of 22.68 and a beta of 1.30.
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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