ServiceNow, Inc. (NYSE:NOW) Announces Earnings Results
ServiceNow, Inc. (NYSE:NOW) posted its earnings results on Wednesday. The information technology services provider reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.02, Bloomberg Earnings reports. The company had revenue of $471.70 million for the quarter, compared to the consensus estimate of $462.11 million. ServiceNow had a negative return on equity of 31.34% and a negative net margin of 10.60%. ServiceNow’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.15 earnings per share.
ServiceNow (NOW) traded up 1.80% during midday trading on Wednesday, reaching $109.72. The company’s stock had a trading volume of 2,874,504 shares. The stock’s 50-day moving average price is $106.75 and its 200-day moving average price is $94.72. ServiceNow has a 12 month low of $70.76 and a 12 month high of $113.01. The firm’s market capitalization is $18.62 billion.
NOW has been the topic of a number of research analyst reports. Deutsche Bank AG boosted their target price on ServiceNow from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Zacks Investment Research upgraded ServiceNow from a “hold” rating to a “buy” rating and set a $106.00 target price on the stock in a research report on Friday, April 28th. DA Davidson set a $118.00 target price on ServiceNow and gave the stock a “buy” rating in a research report on Thursday, April 27th. Canaccord Genuity reiterated a “buy” rating and set a $110.00 target price (up from $105.00) on shares of ServiceNow in a research report on Thursday, April 27th. Finally, BTIG Research reiterated a “buy” rating on shares of ServiceNow in a research report on Monday, April 24th. Seven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $108.60.
In related news, CRO David Schneider sold 2,243 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $97.04, for a total transaction of $217,660.72. Following the completion of the sale, the executive now directly owns 47,654 shares in the company, valued at $4,624,344.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Frank Slootman sold 150,000 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $104.09, for a total value of $15,613,500.00. Following the sale, the director now owns 356,287 shares of the company’s stock, valued at $37,085,913.83. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 581,673 shares of company stock valued at $61,196,746. 3.30% of the stock is owned by corporate insiders.
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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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