ServiceNow (NYSE:NOW) Posts Quarterly Earnings Results

ServiceNow (NYSE:NOW) released its earnings results on Wednesday. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26, Briefing.com reports. The business had revenue of $2.80 billion for 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 firm’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period last year, the firm posted $1.21 earnings per share.

ServiceNow Stock Performance

NOW stock traded up $48.72 during mid-day trading on Thursday, reaching $956.40. 3,400,145 shares of the stock traded hands, compared to its average volume of 1,285,536. 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 business has a 50-day moving average of $880.60 and a two-hundred day moving average of $795.09. The firm has a market capitalization of $196.06 billion, a PE ratio of 102.31, a P/E/G ratio of 5.63 and a beta of 0.99. ServiceNow has a 52 week low of $527.24 and a 52 week high of $979.78.

Analysts Set New Price Targets

NOW has been the topic of several research analyst reports. Morgan Stanley cut shares of ServiceNow from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $900.00 to $960.00 in a research report on Monday. Needham & Company LLC lifted their price target on ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a report on Thursday. Barclays increased their price objective on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday. Canaccord Genuity Group lifted their target price on ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Evercore ISI increased their price target on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday. One research 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 data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $970.22.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 187 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the sale, the insider now owns 3,779 shares of the company’s stock, valued at $3,006,496.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Paul John Smith sold 187 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the completion of the transaction, the insider now directly owns 3,779 shares in the company, valued at $3,006,496.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 94 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $825.92, for a total transaction of $77,636.48. Following the completion of the sale, the insider now owns 4,019 shares in the company, valued at $3,319,372.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,467 shares of company stock valued at $4,450,447. 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.