ServiceNow (NYSE:NOW) Issues Earnings Results

ServiceNow (NYSE:NOW) posted its earnings results on Wednesday. The information technology services provider reported $3.13 earnings per share for the quarter, beating 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 analyst estimates of $2.61 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 EPS.

ServiceNow Trading Up 13.3 %

NOW stock traded up $97.29 during midday trading on Thursday, hitting $828.16. The company had a trading volume of 6,548,486 shares, compared to its average volume of 1,324,869. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. ServiceNow has a 52 week low of $527.24 and a 52 week high of $850.33. The stock’s 50 day moving average price is $742.77 and its 200 day moving average price is $750.01. The stock has a market cap of $169.77 billion, a price-to-earnings ratio of 88.57, a PEG ratio of 4.80 and a beta of 0.99.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $835.00 target price on shares of ServiceNow in a report on Tuesday. Royal Bank of Canada lifted their target price on ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a report on Thursday. KeyCorp cut their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Robert W. Baird boosted their price objective on ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Morgan Stanley boosted their price objective on ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $833.57.

Insider Buying and Selling at ServiceNow

In related news, insider Paul John Smith sold 125 shares of the company’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 transaction of $90,922.50. Following the completion of the transaction, the insider now owns 3,112 shares in the company, valued at $2,263,606.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Paul John Smith sold 125 shares of the company’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 transaction of $90,922.50. Following the completion of the transaction, the insider now owns 3,112 shares in the company, valued at $2,263,606.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $738.88, for a total value of $1,329,984.00. Following the transaction, the chief financial officer now owns 13,290 shares of the company’s stock, valued at approximately $9,819,715.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,530 shares of company stock worth $3,997,012. 0.25% of the stock is currently owned by 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.