ServiceNow (NYSE:NOW) Announces Earnings Results

ServiceNow (NYSE:NOW) posted its quarterly earnings results on Wednesday. The information technology services provider reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.26, Briefing.com reports. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business’s revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.21 earnings per share.

ServiceNow Stock Performance

NOW traded down $5.73 during trading on Friday, hitting $950.85. 1,494,753 shares of the company traded hands, compared to its average volume of 1,286,547. ServiceNow has a one year low of $548.44 and a one year high of $979.78. The stock’s fifty day moving average is $883.09 and its 200 day moving average is $796.21. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The firm has a market cap of $195.88 billion, a P/E ratio of 171.94, a price-to-earnings-growth ratio of 5.04 and a beta of 0.99.

Analyst Ratings Changes

A number of analysts recently commented on the company. UBS Group boosted their target price on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. JMP Securities upped their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 17th. Royal Bank of Canada increased their target price on ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Stifel Nicolaus raised their price objective on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $970.33.

Insiders Place Their Bets

In related news, insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the sale, the insider now owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the sale, the insider now owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the sale, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,467 shares of company stock valued at $4,450,447. Company insiders own 0.25% of the company’s stock.

ServiceNow Company Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.