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

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

ServiceNow Stock Down 0.6 %

ServiceNow stock traded down $5.73 during mid-day trading on Friday, hitting $950.85. The company’s stock had a trading volume of 1,464,601 shares, compared to its average volume of 1,286,547. The firm’s 50 day moving average is $883.09 and its 200 day moving average is $796.21. The company has a market cap of $195.88 billion, a PE ratio of 172.19, 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. ServiceNow has a 52-week low of $548.44 and a 52-week high of $979.78.

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the sale, the insider now directly owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. 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 ServiceNow news, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the transaction, the insider now directly owns 4,019 shares of the company’s stock, valued at $3,319,372.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction dated 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 completion of the transaction, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,467 shares of company stock valued at $4,450,447. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Piper Sandler increased their price target on ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. upped their price objective on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday. Mizuho upped their price objective on ServiceNow from $850.00 to $980.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Stifel Nicolaus upped their price objective on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a report on Thursday. Finally, Citigroup upped their price objective on ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $970.33.

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.