ServiceNow (NYSE:NOW) Releases Quarterly Earnings Results, Beats Estimates By $0.28 EPS

ServiceNow (NYSE:NOW) released its quarterly earnings results on Wednesday. The information technology services provider reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28, Briefing.com reports. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a return on equity of 15.01% and a net margin of 11.51%. The company’s revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.77 EPS.

ServiceNow Stock Up 0.2 %

NOW traded up $1.69 on Friday, reaching $830.48. The company’s stock had a trading volume of 1,506,971 shares, compared to its average volume of 1,326,163. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. ServiceNow has a fifty-two week low of $527.24 and a fifty-two week high of $850.33. The stock has a 50 day moving average of $742.77 and a two-hundred day moving average of $750.01. The company has a market capitalization of $170.25 billion, a price-to-earnings ratio of 89.01, a P/E/G ratio of 4.58 and a beta of 0.99.

Analyst Ratings Changes

NOW has been the subject of several research analyst reports. Guggenheim reaffirmed a “sell” rating and set a $640.00 target price on shares of ServiceNow in a research note on Monday, July 8th. Citigroup increased their price objective on shares of ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. StockNews.com lowered ServiceNow from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Robert W. Baird raised their price target on ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Wolfe Research reiterated an “outperform” rating and issued a $830.00 price objective on shares of ServiceNow in a report on Friday, May 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $833.57.

Insiders Place Their Bets

In other news, insider Nicholas Tzitzon sold 2,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total value of $1,381,980.00. Following the completion of the transaction, the insider now owns 3,649 shares in the company, valued at approximately $2,521,422.51. The sale was disclosed in a document filed with the SEC, which is available at this link. In other ServiceNow news, insider Paul John Smith sold 125 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $727.38, for a total value of $90,922.50. Following the completion of the sale, the insider now owns 3,112 shares in the company, valued at $2,263,606.56. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Nicholas Tzitzon sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the transaction, the insider now owns 3,649 shares in the company, valued at $2,521,422.51. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,530 shares of company stock valued at $3,997,012. 0.25% of the stock is owned by corporate insiders.

About ServiceNow

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.