$491.91 Million in Sales Expected for ServiceNow, Inc. (NOW) This Quarter
Brokerages expect ServiceNow, Inc. (NYSE:NOW) to post sales of $491.91 million for the current quarter, Zacks reports. Ten analysts have made estimates for ServiceNow’s earnings, with the highest sales estimate coming in at $495.28 million and the lowest estimate coming in at $490.40 million. ServiceNow reported sales of $357.66 million in the same quarter last year, which indicates a positive year-over-year growth rate of 37.5%. The business is expected to announce its next quarterly earnings results on Wednesday, October 25th.
According to Zacks, analysts expect that ServiceNow will report full year sales of $491.91 million for the current financial year, with estimates ranging from $1.91 billion to $1.93 billion. For the next year, analysts anticipate that the firm will post sales of $2.49 billion per share, with estimates ranging from $2.43 billion to $2.59 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow ServiceNow.
ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. ServiceNow had a negative net margin of 10.17% and a negative return on equity of 29.05%. The firm had revenue of $471.70 million during the quarter, compared to analysts’ expectations of $462.11 million. During the same quarter in the previous year, the company posted $0.15 EPS. ServiceNow’s revenue was up 38.2% on a year-over-year basis.
NOW has been the subject of several analyst reports. Royal Bank Of Canada reissued a “buy” rating and set a $110.00 price target on shares of ServiceNow in a research report on Monday, May 29th. BidaskClub lowered shares of ServiceNow from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Stifel Nicolaus assumed coverage on shares of ServiceNow in a research note on Tuesday, June 6th. They issued a “buy” rating for the company. Citigroup Inc. reiterated a “buy” rating and issued a $135.00 price target (up from $109.00) on shares of ServiceNow in a research note on Saturday, July 22nd. Finally, Canaccord Genuity restated a “buy” rating and set a $130.00 price objective (up from $110.00) on shares of ServiceNow in a research note on Thursday, July 27th. Eight research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $115.96.
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In related news, CRO David Schneider sold 16,349 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $107.25, for a total transaction of $1,753,430.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank Slootman sold 150,000 shares of the business’s stock in a transaction that occurred 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 approximately $37,085,913.83. The disclosure for this sale can be found here. Insiders sold a total of 945,853 shares of company stock valued at $102,413,366 in the last quarter. Company insiders own 3.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NOW. Teachers Advisors LLC raised its position in ServiceNow by 29.0% in the first quarter. Teachers Advisors LLC now owns 698,964 shares of the information technology services provider’s stock valued at $61,138,000 after buying an additional 157,079 shares during the period. Vista Equity Partners Management LLC raised its position in ServiceNow by 27.4% in the first quarter. Vista Equity Partners Management LLC now owns 68,743 shares of the information technology services provider’s stock worth $6,013,000 after buying an additional 14,772 shares during the last quarter. United Services Automobile Association raised its position in ServiceNow by 44.6% in the first quarter. United Services Automobile Association now owns 250,551 shares of the information technology services provider’s stock worth $21,916,000 after buying an additional 77,239 shares during the last quarter. TLP Group LLC bought a new position in ServiceNow during the first quarter worth about $131,000. Finally, Laurion Capital Management LP bought a new position in ServiceNow during the first quarter worth about $1,356,000. 98.25% of the stock is currently owned by institutional investors.
Shares of ServiceNow (NOW) opened at 110.59 on Friday. The company’s market cap is $18.88 billion. ServiceNow has a 12 month low of $71.34 and a 12 month high of $115.85. The firm’s 50 day moving average is $108.96 and its 200 day moving average is $98.46.
ServiceNow Company Profile
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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