$0.60 EPS Expected for ServiceNow Inc (NOW) This Quarter

Brokerages expect ServiceNow Inc (NYSE:NOW) to report $0.60 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Thirteen analysts have provided estimates for ServiceNow’s earnings, with the highest EPS estimate coming in at $0.70 and the lowest estimate coming in at $0.52. ServiceNow posted earnings per share of $0.38 during the same quarter last year, which would indicate a positive year-over-year growth rate of 57.9%. The firm is expected to announce its next quarterly earnings report after the market closes on Wednesday, October 24th.

According to Zacks, analysts expect that ServiceNow will report full year earnings of $2.34 per share for the current fiscal year, with EPS estimates ranging from $2.17 to $2.50. For the next fiscal year, analysts forecast that the company will report earnings of $3.13 per share, with EPS estimates ranging from $2.88 to $3.43. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow ServiceNow.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 25th. The information technology services provider reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.06. ServiceNow had a negative return on equity of 7.48% and a negative net margin of 4.16%. The business had revenue of $631.05 million for the quarter, compared to analysts’ expectations of $616.68 million. During the same period in the previous year, the business posted $0.22 EPS. The firm’s quarterly revenue was up 40.8% compared to the same quarter last year.

A number of research analysts have weighed in on the company. Northland Securities reaffirmed a “buy” rating and set a $200.00 target price on shares of ServiceNow in a report on Thursday, July 26th. BMO Capital Markets lifted their target price on ServiceNow from $177.00 to $205.00 and gave the company an “outperform” rating in a report on Thursday, July 26th. JMP Securities lifted their target price on ServiceNow to $220.00 and gave the company an “outperform” rating in a report on Thursday, July 26th. Royal Bank of Canada reaffirmed a “buy” rating and set a $205.00 target price on shares of ServiceNow in a report on Thursday, July 26th. Finally, Morgan Stanley lifted their target price on ServiceNow from $172.00 to $198.00 and gave the company an “overweight” rating in a report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. ServiceNow presently has an average rating of “Buy” and an average target price of $201.58.

ServiceNow stock traded down $6.32 during midday trading on Wednesday, reaching $180.28. The stock had a trading volume of 149,094 shares, compared to its average volume of 1,865,991. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a market capitalization of $34.81 billion, a P/E ratio of -176.14, a P/E/G ratio of 46.45 and a beta of 1.23. ServiceNow has a 12 month low of $112.84 and a 12 month high of $206.29.

In other news, CFO Michael Scarpelli sold 30,037 shares of the business’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $182.89, for a total transaction of $5,493,466.93. Following the completion of the transaction, the chief financial officer now owns 68,748 shares of the company’s stock, valued at $12,573,321.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chirantan Jitendra Desai sold 2,031 shares of the business’s stock in a transaction dated Thursday, July 12th. The stock was sold at an average price of $188.83, for a total value of $383,513.73. Following the transaction, the insider now directly owns 2,534 shares of the company’s stock, valued at approximately $478,495.22. The disclosure for this sale can be found here. Insiders have sold 190,350 shares of company stock valued at $35,612,720 in the last three months. 1.60% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of NOW. Alpha Windward LLC purchased a new stake in ServiceNow in the second quarter worth approximately $102,000. Three Peaks Capital Management LLC purchased a new stake in ServiceNow in the first quarter worth approximately $113,000. IHT Wealth Management LLC boosted its stake in ServiceNow by 66.7% in the first quarter. IHT Wealth Management LLC now owns 750 shares of the information technology services provider’s stock worth $121,000 after buying an additional 300 shares in the last quarter. Adviser Investments LLC purchased a new stake in ServiceNow in the first quarter worth approximately $166,000. Finally, Chevy Chase Trust Holdings Inc. purchased a new stake in ServiceNow in the second quarter worth approximately $204,000. 95.83% of the stock is owned by institutional investors.

About ServiceNow

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.

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Earnings History and Estimates for ServiceNow (NYSE:NOW)

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