ServiceNow, Inc. (NYSE:NOW) Expected to Post Quarterly Sales of $463.09 Million
Analysts expect ServiceNow, Inc. (NYSE:NOW) to announce sales of $463.09 million for the current quarter, according to Zacks. Ten analysts have made estimates for ServiceNow’s earnings, with the highest sales estimate coming in at $473.00 million and the lowest estimate coming in at $460.50 million. ServiceNow posted sales of $341.31 million during the same quarter last year, which suggests a positive year over year growth rate of 35.7%. The business is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, July 26th.
According to Zacks, analysts expect that ServiceNow will report full-year sales of $463.09 million for the current financial year, with estimates ranging from $1.87 billion to $1.91 billion. For the next fiscal year, analysts anticipate that the company will post sales of $2.42 billion per share, with estimates ranging from $2.35 billion to $2.54 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow ServiceNow.
ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 26th. The information technology services provider reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.16) by $0.02. The company had revenue of $416.80 million during the quarter, compared to analysts’ expectations of $409.26 million. ServiceNow had a negative return on equity of 31.34% and a negative net margin of 10.60%. The company’s revenue for the quarter was up 36.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 EPS.
Several equities research analysts have issued reports on the company. Royal Bank Of Canada increased their price target on ServiceNow from $108.00 to $110.00 and gave the stock a “top pick” rating in a report on Thursday, April 27th. Morgan Stanley increased their price target on ServiceNow from $108.00 to $114.00 and gave the stock an “overweight” rating in a report on Friday, April 28th. Sanford C. Bernstein restated an “outperform” rating and issued a $141.00 price target on shares of ServiceNow in a report on Wednesday, June 28th. Canaccord Genuity restated a “buy” rating and issued a $105.00 price target on shares of ServiceNow in a report on Friday, April 21st. Finally, Stifel Nicolaus initiated coverage on ServiceNow in a report on Tuesday, June 6th. They issued a “buy” rating for the company. Seven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. ServiceNow presently has an average rating of “Buy” and a consensus price target of $106.04.
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In other news, Director Frederic B. Luddy sold 167,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $108.34, for a total value of $18,092,780.00. Following the completion of the sale, the director now directly owns 11,190 shares of the company’s stock, valued at $1,212,324.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John J. Donahoe acquired 11,236 shares of the business’s stock in a transaction dated Tuesday, May 9th. The stock was acquired at an average cost of $98.05 per share, with a total value of $1,101,689.80. Following the completion of the transaction, the insider now owns 5,618 shares of the company’s stock, valued at $550,844.90. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 581,673 shares of company stock valued at $61,196,746. Insiders own 3.30% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in ServiceNow by 8.1% in the first quarter. Vanguard Group Inc. now owns 13,244,656 shares of the information technology services provider’s stock valued at $1,158,511,000 after buying an additional 994,461 shares during the last quarter. FMR LLC boosted its stake in ServiceNow by 91.1% in the first quarter. FMR LLC now owns 3,280,069 shares of the information technology services provider’s stock valued at $286,908,000 after buying an additional 1,563,778 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in ServiceNow by 12.8% in the first quarter. TIAA CREF Investment Management LLC now owns 2,243,355 shares of the information technology services provider’s stock valued at $196,226,000 after buying an additional 254,144 shares during the last quarter. Jennison Associates LLC boosted its stake in ServiceNow by 2.7% in the first quarter. Jennison Associates LLC now owns 1,257,996 shares of the information technology services provider’s stock valued at $110,037,000 after buying an additional 33,300 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in ServiceNow by 770.6% in the first quarter. Renaissance Technologies LLC now owns 1,072,600 shares of the information technology services provider’s stock valued at $93,820,000 after buying an additional 949,400 shares during the last quarter. 97.59% of the stock is owned by institutional investors and hedge funds.
Shares of ServiceNow (NYSE:NOW) traded down 0.359% during trading on Thursday, reaching $109.725. The company had a trading volume of 1,268,863 shares. ServiceNow has a 52-week low of $70.61 and a 52-week high of $113.01. The firm’s market capitalization is $18.62 billion. The company has a 50 day moving average of $106.54 and a 200-day moving average of $94.04.
ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.
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