ServiceNow (NYSE:NOW) Posts Earnings Results, Misses Estimates By $1.74 EPS

ServiceNow (NYSE:NOW) released its quarterly earnings results on Wednesday. The information technology services provider reported $1.93 EPS for the quarter, missing the consensus estimate of $3.67 by ($1.74), Zacks reports. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%.

ServiceNow Stock Down 2.2 %

Shares of NOW stock traded down $25.53 during mid-day trading on Wednesday, hitting $1,144.86. 2,497,202 shares of the stock traded hands, compared to its average volume of 1,387,750. The stock’s fifty day moving average is $1,082.77 and its two-hundred day moving average is $950.94. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow has a 52-week low of $637.99 and a 52-week high of $1,198.09. The stock has a market cap of $235.84 billion, a P/E ratio of 178.05, a P/E/G ratio of 5.11 and a beta of 0.99.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NOW shares. Raymond James began coverage on shares of ServiceNow in a research report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on shares of ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Wednesday. Jefferies Financial Group boosted their target price on ServiceNow from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Scotiabank started coverage on ServiceNow in a research note on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 target price on the stock. Finally, Oppenheimer raised their price target on ServiceNow from $1,020.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,116.14.

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 76 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,060,115.38. This represents a 2.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jeffrey A. Miller sold 2,879 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the sale, the director now directly owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. This represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,731 shares of company stock worth $21,016,751 in the last 90 days. 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.