ServiceNow Inc to Post FY2018 Earnings of $0.20 Per Share, Jefferies Financial Group Forecasts (NYSE:NOW)

ServiceNow Inc (NYSE:NOW) – Research analysts at Jefferies Financial Group boosted their FY2018 earnings per share (EPS) estimates for shares of ServiceNow in a research note issued to investors on Thursday, October 25th, Zacks Investment Research reports. Jefferies Financial Group analyst S. Samana now expects that the information technology services provider will post earnings of $0.20 per share for the year, up from their prior forecast of $0.17. Jefferies Financial Group has a “Buy” rating and a $240.00 price target on the stock. Jefferies Financial Group also issued estimates for ServiceNow’s Q2 2019 earnings at $0.03 EPS and Q3 2019 earnings at $0.26 EPS.

Several other equities analysts have also recently issued reports on NOW. BMO Capital Markets boosted their price objective on shares of ServiceNow from $177.00 to $205.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. KeyCorp boosted their price objective on shares of ServiceNow from $194.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, July 26th. JMP Securities boosted their price objective on shares of ServiceNow to $220.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. Canaccord Genuity boosted their price objective on shares of ServiceNow from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. Finally, Morgan Stanley boosted their price objective on shares of ServiceNow from $172.00 to $198.00 and gave the company an “overweight” rating in a research note on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $203.44.

NOW traded up $1.90 during trading on Monday, hitting $159.14. The stock had a trading volume of 1,821,674 shares, compared to its average volume of 2,531,858. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a market capitalization of $28.19 billion, a P/E ratio of -151.56, a P/E/G ratio of 29.17 and a beta of 1.25. ServiceNow has a twelve month low of $112.84 and a twelve month high of $206.29.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 24th. The information technology services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.61. The business had revenue of $673.10 million for the quarter, compared to analysts’ expectations of $659.41 million. ServiceNow had a negative net margin of 2.52% and a negative return on equity of 2.93%.

In other ServiceNow news, Director Frederic B. Luddy sold 32,500 shares of the company’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $196.45, for a total value of $6,384,625.00. Following the transaction, the director now directly owns 282,383 shares in the company, valued at approximately $55,474,140.35. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Chirantan Jitendra Desai sold 2,031 shares of the company’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $199.84, for a total transaction of $405,875.04. Following the completion of the transaction, the insider now owns 7,174 shares in the company, valued at $1,433,652.16. The disclosure for this sale can be found here. Insiders sold a total of 135,014 shares of company stock worth $23,922,960 over the last quarter. Insiders own 1.60% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Stratos Wealth Partners LTD. purchased a new position in ServiceNow in the 3rd quarter valued at about $101,000. Alpha Windward LLC purchased a new position in ServiceNow in the 2nd quarter valued at about $102,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of ServiceNow during the 3rd quarter valued at about $117,000. Valeo Financial Advisors LLC increased its stake in shares of ServiceNow by 89.6% during the 3rd quarter. Valeo Financial Advisors LLC now owns 931 shares of the information technology services provider’s stock valued at $169,000 after acquiring an additional 440 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. acquired a new position in shares of ServiceNow during the 2nd quarter valued at about $204,000. Institutional investors own 94.76% of the company’s stock.

About ServiceNow

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.

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