ServiceNow (NYSE:NOW) Posts Earnings Results, Beats Estimates By $0.28 EPS

ServiceNow (NYSE:NOW) released its quarterly earnings data on Wednesday. The information technology services provider reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28, Briefing.com reports. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period last year, the firm earned $0.77 EPS.

ServiceNow Trading Up 13.3 %

NYSE NOW traded up $97.29 during trading on Thursday, reaching $828.16. 6,548,486 shares of the stock traded hands, compared to its average volume of 1,324,869. The firm has a market cap of $169.77 billion, a price-to-earnings ratio of 88.57, a price-to-earnings-growth ratio of 4.80 and a beta of 0.99. The stock’s 50-day moving average price is $742.77 and its 200 day moving average price is $750.01. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. ServiceNow has a fifty-two week low of $527.24 and a fifty-two week high of $850.33.

Analysts Set New Price Targets

NOW has been the subject of a number of analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $835.00 price objective on shares of ServiceNow in a report on Tuesday. Jefferies Financial Group raised their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. KeyCorp reduced their price objective on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Morgan Stanley lifted their price target on shares of ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $833.57.

Insider Activity at ServiceNow

In other news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $738.88, for a total value of $1,329,984.00. Following the sale, the chief financial officer now owns 13,290 shares of the company’s stock, valued at $9,819,715.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $738.88, for a total value of $1,329,984.00. Following the sale, the chief financial officer now owns 13,290 shares of the company’s stock, valued at $9,819,715.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the sale, the insider now directly owns 15,892 shares in the company, valued at approximately $11,124,400. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,530 shares of company stock worth $3,997,012. 0.25% of the stock is currently owned by company 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.