ServiceNow Inc (NOW) Expected to Post Earnings of $0.64 Per Share

Equities analysts forecast that ServiceNow Inc (NYSE:NOW) will announce earnings per share of $0.64 for the current fiscal quarter, Zacks reports. Twelve analysts have provided estimates for ServiceNow’s earnings. The highest EPS estimate is $0.77 and the lowest is $0.58. ServiceNow posted earnings of $0.49 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 30.6%. The business is expected to announce its next quarterly earnings report on Wednesday, July 24th.

On average, analysts expect that ServiceNow will report full year earnings of $3.20 per share for the current fiscal year, with EPS estimates ranging from $3.04 to $3.32. For the next fiscal year, analysts forecast that the firm will post earnings of $4.30 per share, with EPS estimates ranging from $4.02 to $4.97. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for ServiceNow.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.10. ServiceNow had a positive return on equity of 1.64% and a negative net margin of 1.38%. The company had revenue of $788.93 million for the quarter, compared to analyst estimates of $768.09 million. During the same period in the previous year, the company posted $0.56 EPS. The firm’s revenue for the quarter was up 33.9% compared to the same quarter last year.

A number of research firms recently issued reports on NOW. Zacks Investment Research upgraded ServiceNow from a “hold” rating to a “buy” rating and set a $299.00 price objective on the stock in a research note on Tuesday, April 30th. Argus boosted their price objective on ServiceNow from $260.00 to $304.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Deutsche Bank boosted their price objective on ServiceNow from $285.00 to $305.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Royal Bank of Canada boosted their price objective on ServiceNow to $285.00 and gave the company a “top pick” rating in a research note on Tuesday, May 7th. Finally, Canaccord Genuity boosted their price objective on ServiceNow from $285.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and three have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $268.24.

In other news, insider Patricia L. Wadors sold 1,559 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $263.61, for a total value of $410,967.99. Following the completion of the transaction, the insider now directly owns 3,093 shares in the company, valued at approximately $815,345.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Schneider sold 2,373 shares of the company’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $240.17, for a total value of $569,923.41. Following the completion of the transaction, the insider now owns 57,605 shares of the company’s stock, valued at $13,834,992.85. The disclosure for this sale can be found here. Insiders sold a total of 148,615 shares of company stock valued at $37,312,944 over the last quarter. Company insiders own 1.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Neuberger Berman Group LLC increased its holdings in shares of ServiceNow by 0.3% in the third quarter. Neuberger Berman Group LLC now owns 193,546 shares of the information technology services provider’s stock worth $37,863,000 after purchasing an additional 514 shares during the last quarter. Standard Life Aberdeen plc boosted its stake in ServiceNow by 3.9% during the 3rd quarter. Standard Life Aberdeen plc now owns 9,967 shares of the information technology services provider’s stock valued at $1,950,000 after acquiring an additional 376 shares during the last quarter. Legal & General Group Plc boosted its stake in ServiceNow by 1.0% during the 3rd quarter. Legal & General Group Plc now owns 676,791 shares of the information technology services provider’s stock valued at $132,416,000 after acquiring an additional 6,460 shares during the last quarter. First Hawaiian Bank boosted its stake in ServiceNow by 4.4% during the 4th quarter. First Hawaiian Bank now owns 2,140 shares of the information technology services provider’s stock valued at $381,000 after acquiring an additional 90 shares during the last quarter. Finally, Gateway Investment Advisers LLC boosted its stake in ServiceNow by 52.1% during the 4th quarter. Gateway Investment Advisers LLC now owns 91,186 shares of the information technology services provider’s stock valued at $16,236,000 after acquiring an additional 31,248 shares during the last quarter.

Shares of NYSE:NOW traded down $9.33 during midday trading on Thursday, reaching $264.06. 36,536 shares of the company traded hands, compared to its average volume of 2,136,981. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow has a 12 month low of $147.63 and a 12 month high of $281.74. The firm has a market cap of $50.31 billion, a price-to-earnings ratio of 1,323.35, a PEG ratio of 20.00 and a beta of 1.45.

About ServiceNow

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Earnings History and Estimates for ServiceNow (NYSE:NOW)

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