ServiceNow (NYSE:NOW) Releases Quarterly Earnings Results, Beats Estimates By $0.26 EPS

ServiceNow (NYSE:NOW) posted its quarterly earnings results on Wednesday. The information technology services provider reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26, Briefing.com reports. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter last year, the firm posted $1.21 earnings per share. ServiceNow’s revenue was up 22.2% on a year-over-year basis.

ServiceNow Trading Up 0.1 %

NYSE NOW traded up $0.83 on Friday, hitting $957.41. 310,365 shares of the company were exchanged, compared to its average volume of 1,280,830. ServiceNow has a twelve month low of $548.44 and a twelve month high of $979.78. The company’s 50 day moving average price is $880.60 and its 200-day moving average price is $795.09. The firm has a market capitalization of $197.23 billion, a P/E ratio of 172.95, a price-to-earnings-growth ratio of 5.04 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Evercore ISI raised their price objective on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday. Morgan Stanley cut shares of ServiceNow from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $900.00 to $960.00 in a research report on Monday. TD Cowen boosted their target price on shares of ServiceNow from $900.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Monday. JMP Securities lifted their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 17th. Finally, Piper Sandler upped their target price on ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $970.22.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 804 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total value of $652,848.00. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,457,924. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Jacqueline P. Canney sold 804 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total value of $652,848.00. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $2,457,924. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, the general counsel now owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. This trade 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 worth $4,450,447. 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.