Wall Street analysts expect that ServiceNow, Inc. (NYSE:NOW) will report $535.45 million in sales for the current quarter, Zacks Investment Research reports. Ten analysts have provided estimates for ServiceNow’s earnings, with the lowest sales estimate coming in at $533.60 million and the highest estimate coming in at $539.67 million. ServiceNow reported sales of $385.67 million during the same quarter last year, which indicates a positive year-over-year growth rate of 38.8%. The business is scheduled to issue its next quarterly earnings report on Wednesday, January 24th.
On average, analysts expect that ServiceNow will report full year sales of $535.45 million for the current fiscal year, with estimates ranging from $1.91 billion to $1.93 billion. For the next financial year, analysts forecast that the company will post sales of $2.51 billion per share, with estimates ranging from $2.47 billion to $2.56 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for ServiceNow.
ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 25th. The information technology services provider reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.06. ServiceNow had a negative return on equity of 22.11% and a negative net margin of 8.68%. The business had revenue of $498.20 million for the quarter, compared to analyst estimates of $491.62 million. During the same period last year, the company earned $0.23 EPS. The firm’s revenue was up 39.3% on a year-over-year basis.
NOW has been the topic of several recent research reports. BidaskClub lowered ServiceNow from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Citigroup Inc. restated a “buy” rating and issued a $135.00 price target (up from $109.00) on shares of ServiceNow in a research report on Saturday, July 22nd. Canaccord Genuity restated a “buy” rating and issued a $130.00 price target (up from $110.00) on shares of ServiceNow in a research report on Thursday, July 27th. Guggenheim restated a “buy” rating and issued a $120.00 price target (up from $108.00) on shares of ServiceNow in a research report on Thursday, July 27th. Finally, Robert W. Baird restated a “buy” rating and issued a $120.00 price target on shares of ServiceNow in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-nine have given a buy rating and three have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $130.50.
ServiceNow (NOW) traded down $0.95 during trading hours on Friday, hitting $125.03. The stock had a trading volume of 893,700 shares, compared to its average volume of 1,600,128. ServiceNow has a 1-year low of $72.80 and a 1-year high of $129.56. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.66 and a current ratio of 1.66.
In related news, insider Michael Scarpelli sold 75,000 shares of ServiceNow stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $107.68, for a total transaction of $8,076,000.00. Following the completion of the transaction, the insider now owns 252,368 shares in the company, valued at $27,174,986.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO David Schneider sold 16,349 shares of ServiceNow stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $124.21, for a total value of $2,030,709.29. Following the transaction, the executive now owns 67,185 shares of the company’s stock, valued at approximately $8,345,048.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,038,849 shares of company stock worth $121,717,884. 3.30% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Swiss National Bank grew its holdings in ServiceNow by 3.1% during the second quarter. Swiss National Bank now owns 606,600 shares of the information technology services provider’s stock worth $64,300,000 after purchasing an additional 18,200 shares during the period. Allen Investment Management LLC bought a new position in ServiceNow during the second quarter worth about $45,372,000. Rockefeller Financial Services Inc. bought a new position in ServiceNow during the third quarter worth about $138,000. Utah Retirement Systems grew its holdings in ServiceNow by 6.3% during the second quarter. Utah Retirement Systems now owns 30,600 shares of the information technology services provider’s stock worth $3,243,000 after purchasing an additional 1,800 shares during the period. Finally, Cornerstone Advisors Inc. grew its holdings in ServiceNow by 29.2% during the second quarter. Cornerstone Advisors Inc. now owns 1,085 shares of the information technology services provider’s stock worth $115,000 after purchasing an additional 245 shares during the period. Institutional investors and hedge funds own 98.78% of the company’s stock.
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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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