$535.45 Million in Sales Expected for ServiceNow Inc (NOW) This Quarter

Brokerages expect ServiceNow Inc (NYSE:NOW) to post $535.45 million in sales for the current quarter, according to Zacks Investment Research. Ten analysts have made estimates for ServiceNow’s earnings. The highest sales estimate is $539.67 million and the lowest is $533.60 million. ServiceNow reported sales of $385.67 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 38.8%. The company is expected to report its next earnings results after the market closes on Wednesday, January 31st.

According to Zacks, analysts expect that ServiceNow will report full-year sales of $535.45 million for the current fiscal year, with estimates ranging from $1.91 billion to $1.93 billion. For the next financial year, analysts forecast that the firm will post sales of $2.51 billion per share, with estimates ranging from $2.47 billion to $2.56 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow ServiceNow.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 25th. The information technology services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.06. ServiceNow had a negative return on equity of 22.11% and a negative net margin of 8.68%. The firm had revenue of $498.20 million during the quarter, compared to analyst estimates of $491.62 million. During the same quarter in the previous year, the firm earned $0.23 EPS. ServiceNow’s quarterly revenue was up 39.3% compared to the same quarter last year.

NOW has been the subject of several research analyst reports. Summit Redstone reiterated a “buy” rating and issued a $135.00 price objective on shares of ServiceNow in a report on Monday, September 18th. Deutsche Bank lifted their price objective on ServiceNow from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th. Piper Jaffray Companies upgraded ServiceNow from a “neutral” rating to an “overweight” rating in a report on Monday, October 23rd. Zacks Investment Research downgraded ServiceNow from a “hold” rating to a “sell” rating in a report on Monday, October 30th. Finally, Robert W. Baird set a $120.00 price objective on ServiceNow and gave the stock a “buy” rating in a report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-eight have given a buy rating and three have assigned a strong buy rating to the stock. ServiceNow currently has a consensus rating of “Buy” and a consensus target price of $132.17.

ServiceNow (NOW) traded up $1.16 during midday trading on Wednesday, reaching $135.01. The company had a trading volume of 1,177,274 shares, compared to its average volume of 1,580,000. ServiceNow has a 52 week low of $78.90 and a 52 week high of $135.13. The company has a market cap of $23,050.00, a P/E ratio of -148.36 and a beta of 1.06. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.66 and a quick ratio of 1.66.

In related news, Director Frederic B. Luddy sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $120.82, for a total transaction of $6,041,000.00. Following the completion of the transaction, the director now directly owns 29,990 shares in the company, valued at approximately $3,623,391.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael Scarpelli sold 95,035 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $126.52, for a total value of $12,023,828.20. Following the transaction, the insider now owns 194,664 shares of the company’s stock, valued at $24,628,889.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 680,174 shares of company stock valued at $85,378,650. Corporate insiders own 3.30% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Commonwealth Bank of Australia grew its stake in shares of ServiceNow by 5.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,518 shares of the information technology services provider’s stock valued at $159,000 after acquiring an additional 83 shares during the period. Comerica Bank grew its stake in shares of ServiceNow by 2.6% during the 2nd quarter. Comerica Bank now owns 7,959 shares of the information technology services provider’s stock valued at $859,000 after acquiring an additional 205 shares during the period. Toronto Dominion Bank grew its stake in shares of ServiceNow by 12.3% during the 2nd quarter. Toronto Dominion Bank now owns 2,040 shares of the information technology services provider’s stock valued at $216,000 after acquiring an additional 224 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of ServiceNow by 15.5% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,238 shares of the information technology services provider’s stock valued at $381,000 after acquiring an additional 434 shares during the period. Finally, ETRADE Capital Management LLC grew its stake in shares of ServiceNow by 16.7% during the 3rd quarter. ETRADE Capital Management LLC now owns 3,206 shares of the information technology services provider’s stock valued at $377,000 after acquiring an additional 458 shares during the period.

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ServiceNow Company Profile

ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.

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