ServiceNow Inc (NYSE:NOW) Expected to Announce Earnings of $0.89 Per Share

Equities analysts expect that ServiceNow Inc (NYSE:NOW) will announce earnings per share of $0.89 for the current fiscal quarter, Zacks Investment Research reports. Twelve analysts have issued estimates for ServiceNow’s earnings, with the highest EPS estimate coming in at $0.96 and the lowest estimate coming in at $0.82. ServiceNow posted earnings per share of $0.68 in the same quarter last year, which suggests a positive year-over-year growth rate of 30.9%. The company is scheduled to issue its next quarterly earnings report on Wednesday, October 23rd.

On average, analysts expect that ServiceNow will report full year earnings of $3.24 per share for the current year, with EPS estimates ranging from $3.12 to $3.35. For the next year, analysts anticipate that the business will post earnings of $4.36 per share, with EPS estimates ranging from $4.06 to $4.78. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow ServiceNow.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 24th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The company had revenue of $833.90 million for 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 firm’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same period last year, the business posted $0.49 earnings per share.

A number of equities research analysts have issued reports on NOW shares. BMO Capital Markets reiterated an “outperform” rating and issued a $315.00 target price (up from $295.00) on shares of ServiceNow in a research note on Thursday, July 25th. KeyCorp raised their target price on ServiceNow from $270.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. BTIG Research reiterated a “buy” rating and issued a $320.00 target price on shares of ServiceNow in a research note on Thursday, July 25th. Stifel Nicolaus upgraded ServiceNow from a “hold” rating to a “buy” rating and raised their target price for the company from $290.00 to $320.00 in a research note on Wednesday. Finally, Piper Jaffray Companies raised their target price on ServiceNow from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Three analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $291.66.

NOW stock traded up $10.50 during mid-day trading on Friday, reaching $265.78. The company had a trading volume of 1,840,330 shares, compared to its average volume of 1,854,554. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $48.17 billion, a P/E ratio of 1,328.90, a P/E/G ratio of 21.38 and a beta of 1.30. ServiceNow has a one year low of $147.63 and a one year high of $303.17. The stock’s 50-day simple moving average is $279.92 and its two-hundred day simple moving average is $259.87.

In related news, insider Fay Sien Goon sold 408 shares of ServiceNow stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $258.36, for a total transaction of $105,410.88. Following the sale, the insider now directly owns 41,777 shares in the company, valued at $10,793,505.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael Scarpelli sold 31,183 shares of ServiceNow stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $260.22, for a total transaction of $8,114,440.26. Following the sale, the chief financial officer now owns 36,200 shares in the company, valued at $9,419,964. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 117,767 shares of company stock worth $32,107,343. Company insiders own 1.00% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Financial Gravity Wealth Inc. acquired a new position in ServiceNow during the first quarter worth about $25,000. San Francisco Sentry Investment Group CA grew its holdings in ServiceNow by 650.0% during the second quarter. San Francisco Sentry Investment Group CA now owns 105 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 91 shares during the period. Sandy Spring Bank grew its holdings in ServiceNow by 118.0% during the first 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. Motco acquired a new position in ServiceNow during the second quarter worth about $33,000. Finally, Knuff & Co LLC acquired a new position in ServiceNow during the first quarter worth about $37,000. Institutional investors and hedge funds own 92.80% 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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