FY2025 Earnings Forecast for ServiceNow Issued By Scotiabank

ServiceNow, Inc. (NYSE:NOW) – Equities researchers at Scotiabank cut their FY2025 EPS estimates for shares of ServiceNow in a research note issued to investors on Wednesday, March 19th. Scotiabank analyst A. Verkhovski now forecasts that the information technology services provider will earn $8.86 per share for the year, down from their prior forecast of $9.17. Scotiabank currently has a “Sector Outperform” rating and a $1,050.00 price target on the stock. The consensus estimate for ServiceNow’s current full-year earnings is $8.93 per share.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%.

Several other equities analysts also recently issued reports on the stock. Citigroup reduced their price target on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Oppenheimer raised their price target on ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Guggenheim reaffirmed a “sell” rating and issued a $716.00 price objective on shares of ServiceNow in a report on Wednesday, January 22nd. Cantor Fitzgerald reissued an “overweight” rating and set a $1,048.00 target price on shares of ServiceNow in a research note on Tuesday, March 11th. Finally, William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,100.31.

ServiceNow Trading Up 1.3 %

NYSE:NOW opened at $860.50 on Monday. ServiceNow has a 12-month low of $637.99 and a 12-month high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The business has a 50 day simple moving average of $964.71 and a 200 day simple moving average of $985.75. The firm has a market capitalization of $177.26 billion, a P/E ratio of 125.99, a P/E/G ratio of 4.51 and a beta of 1.03.

Institutional Investors Weigh In On ServiceNow

Several institutional investors have recently made changes to their positions in the company. World Investment Advisors LLC raised its position in ServiceNow by 499,668.1% during the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after acquiring an additional 4,771,830 shares in the last quarter. Norges Bank acquired a new position in shares of ServiceNow during the 4th quarter worth $2,603,360,000. Bank of Montreal Can raised its holdings in shares of ServiceNow by 216.6% during the 3rd quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock valued at $1,206,178,000 after purchasing an additional 935,848 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in shares of ServiceNow by 154,255.3% in the 4th quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider’s stock valued at $667,000 after purchasing an additional 666,383 shares during the last quarter. Finally, Alphinity Investment Management Pty Ltd bought a new stake in ServiceNow in the fourth quarter worth $682,468,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total value of $2,720,355.40. Following the completion of the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,370,654.28. This represents a 44.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William R. Mcdermott sold 1,263 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the transaction, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,644,564.50. This represents a 32.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,351 shares of company stock worth $20,050,076. Corporate insiders own 0.25% of the company’s stock.

ServiceNow declared that its board has authorized a stock buyback plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

ServiceNow Company Profile

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.