Zacks: Brokerages Expect ServiceNow Inc (NOW) Will Announce Quarterly Sales of $535.45 Million

Brokerages expect ServiceNow Inc (NYSE:NOW) to report $535.45 million in sales for the current quarter, according to Zacks Investment Research. Ten analysts have issued estimates for ServiceNow’s earnings. The lowest sales estimate is $533.60 million and the highest is $539.67 million. ServiceNow posted sales of $385.67 million in the same quarter last year, which indicates a positive year-over-year growth rate of 38.8%. The firm is scheduled to report its next quarterly earnings results after the market closes on Wednesday, January 31st.

On average, analysts expect that ServiceNow will report full year sales of $535.45 million for the current fiscal year, with estimates ranging from $1.91 billion to $1.93 billion. For the next financial year, analysts anticipate that the business will report sales of $2.51 billion per share, with estimates ranging from $2.48 billion to $2.56 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for ServiceNow.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 25th. The information technology services provider reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.06. The business had revenue of $498.20 million during the quarter, compared to analysts’ expectations of $491.62 million. ServiceNow had a negative return on equity of 22.11% and a negative net margin of 8.68%. The firm’s quarterly revenue was up 39.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.23 earnings per share.

A number of analysts have commented on the company. Robert W. Baird set a $120.00 target price on ServiceNow and gave the stock a “buy” rating in a report on Friday, October 6th. Stifel Nicolaus lifted their target price on ServiceNow from $110.00 to $120.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. BMO Capital Markets reissued a “buy” rating and issued a $127.00 target price on shares of ServiceNow in a report on Friday, October 13th. OTR Global raised ServiceNow to a “positive” rating in a report on Wednesday, October 18th. Finally, Deutsche Bank lifted their target price on ServiceNow from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-eight have given a buy rating and three have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $133.73.

In other ServiceNow news, Director Frank Slootman sold 150,000 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $125.96, for a total transaction of $18,894,000.00. Following the completion of the sale, the director now owns 216,535 shares of the company’s stock, valued at $27,274,748.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO David Schneider sold 16,349 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $124.21, for a total value of $2,030,709.29. Following the sale, the executive now directly owns 67,185 shares of the company’s stock, valued at approximately $8,345,048.85. The disclosure for this sale can be found here. Insiders sold 630,174 shares of company stock valued at $80,823,650 in the last ninety days. 3.30% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in NOW. Capital World Investors bought a new stake in ServiceNow during the second quarter valued at about $259,594,000. Capital Research Global Investors bought a new stake in ServiceNow during the second quarter valued at about $93,763,000. Vanguard Group Inc. grew its holdings in ServiceNow by 5.6% during the second quarter. Vanguard Group Inc. now owns 13,985,997 shares of the information technology services provider’s stock valued at $1,482,516,000 after purchasing an additional 741,341 shares during the period. Renaissance Technologies LLC grew its holdings in ServiceNow by 59.2% during the second quarter. Renaissance Technologies LLC now owns 1,708,100 shares of the information technology services provider’s stock valued at $181,059,000 after purchasing an additional 635,500 shares during the period. Finally, Steadfast Capital Management LP bought a new stake in ServiceNow during the second quarter valued at about $57,787,000.

ServiceNow (NYSE NOW) opened at $142.27 on Friday. ServiceNow has a one year low of $82.14 and a one year high of $142.52. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.66 and a quick ratio of 1.66.

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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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