ServiceNow (NYSE:NOW) Posts Earnings Results, Beats Expectations By $0.26 EPS

ServiceNow (NYSE:NOW) announced its quarterly earnings data on Wednesday. The information technology services provider reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26, Briefing.com reports. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.21 EPS.

ServiceNow Stock Performance

NOW traded up $48.72 during midday trading on Thursday, hitting $956.40. 3,400,145 shares of the company traded hands, compared to its average volume of 1,285,536. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $196.06 billion, a PE ratio of 102.31, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99. The company’s 50-day moving average is $880.60 and its 200 day moving average is $795.09. ServiceNow has a 52 week low of $527.24 and a 52 week high of $979.78.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NOW. Needham & Company LLC boosted their price objective on shares of ServiceNow from $900.00 to $1,075.00 and gave the stock a “buy” rating in a report on Thursday. Stifel Nicolaus lifted their target price on shares of ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research note on Thursday. Piper Sandler lifted their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday. TD Cowen lifted their target price on shares of ServiceNow from $900.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Oppenheimer lifted their target price on shares of ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $970.22.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $2,799,853.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now owns 6,736 shares of the company’s stock, valued at $5,252,800.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,799,853.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,467 shares of company stock worth $4,450,447. Company insiders own 0.25% of the company’s stock.

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.