ServiceNow (NYSE:NOW) posted its quarterly earnings results on Wednesday. The information technology services provider reported $1.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.16, MarketWatch Earnings reports. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. ServiceNow had a net margin of 3.30% and a return on equity of 9.10%. The firm’s revenue for the quarter was up 31.3% on a year-over-year basis. During the same quarter last year, the business posted $0.30 EPS.
Shares of ServiceNow stock opened at $664.76 on Thursday. The firm has a market cap of $131.69 billion, a price-to-earnings ratio of 791.39, a PEG ratio of 17.05 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. ServiceNow has a 1 year low of $448.27 and a 1 year high of $693.47. The company has a 50-day moving average of $634.44 and a 200 day moving average of $564.85.
A number of analysts have weighed in on NOW shares. JMP Securities raised their target price on shares of ServiceNow from $639.00 to $705.00 and gave the company a “market outperform” rating in a research report on Monday, October 11th. Mizuho raised their price target on shares of ServiceNow from $650.00 to $680.00 and gave the company a “buy” rating in a research note on Monday, October 18th. UBS Group lifted their target price on shares of ServiceNow from $625.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, July 29th. Barclays lifted their price target on shares of ServiceNow from $667.00 to $784.00 and gave the company an “overweight” rating in a research note on Friday, September 17th. They noted that the move was a valuation call. Finally, Truist Securities lifted their price objective on shares of ServiceNow from $575.00 to $640.00 and gave the company a “buy” rating in a report on Thursday, July 29th. Two equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $668.87.
A hedge fund recently raised its stake in ServiceNow stock. Morgan Stanley grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 1.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,277,395 shares of the information technology services provider’s stock after purchasing an additional 86,441 shares during the quarter. Morgan Stanley owned approximately 3.67% of ServiceNow worth $3,999,292,000 at the end of the most recent quarter. 85.42% of the stock is owned by institutional investors and hedge funds.
ServiceNow Company Profile
ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. It offers its solutions for the industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil & gas, education, and consumer products.
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