$717.25 Million in Sales Expected for ServiceNow Inc (NOW) This Quarter

Wall Street brokerages forecast that ServiceNow Inc (NYSE:NOW) will announce $717.25 million in sales for the current quarter, according to Zacks Investment Research. Thirteen analysts have provided estimates for ServiceNow’s earnings, with the lowest sales estimate coming in at $710.90 million and the highest estimate coming in at $723.00 million. ServiceNow posted sales of $546.37 million during the same quarter last year, which indicates a positive year-over-year growth rate of 31.3%. The company is scheduled to issue its next quarterly earnings report on Wednesday, January 30th.

On average, analysts expect that ServiceNow will report full year sales of $2.61 billion for the current year, with estimates ranging from $2.60 billion to $2.62 billion. For the next year, analysts forecast that the business will post sales of $3.36 billion, with estimates ranging from $3.30 billion to $3.40 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow ServiceNow.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 24th. The information technology services provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.61. ServiceNow had a negative return on equity of 2.93% and a negative net margin of 2.52%. The firm had revenue of $673.10 million for the quarter, compared to analysts’ expectations of $659.41 million.

Several equities analysts have recently commented on NOW shares. Barclays increased their price objective on ServiceNow from $198.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, September 7th. Morgan Stanley reduced their price objective on ServiceNow from $198.00 to $188.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 23rd. Jefferies Financial Group started coverage on ServiceNow in a research report on Monday, October 1st. They set a “buy” rating and a $240.00 price objective on the stock. Macquarie set a $210.00 price objective on ServiceNow and gave the company a “buy” rating in a research report on Friday, October 12th. Finally, Needham & Company LLC started coverage on ServiceNow in a research report on Monday, October 22nd. They set a “buy” rating and a $224.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company’s stock. ServiceNow currently has a consensus rating of “Buy” and an average price target of $203.44.

Shares of NYSE:NOW traded up $1.90 on Thursday, hitting $159.14. The company’s stock had a trading volume of 1,821,674 shares, compared to its average volume of 2,531,858. ServiceNow has a 1 year low of $112.84 and a 1 year high of $206.29. The stock has a market cap of $28.19 billion, a P/E ratio of -151.56, a PEG ratio of 29.17 and a beta of 1.25. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.64.

In other ServiceNow news, Director Frederic B. Luddy sold 32,500 shares of the stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $196.45, for a total value of $6,384,625.00. Following the completion of the sale, the director now owns 282,383 shares in the company, valued at approximately $55,474,140.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO John J. Donahoe sold 15,560 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $161.52, for a total value of $2,513,251.20. Following the completion of the transaction, the chief executive officer now owns 78,141 shares of the company’s stock, valued at approximately $12,621,334.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 135,014 shares of company stock valued at $23,922,960. Company insiders own 1.60% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NOW. Stratos Wealth Partners LTD. purchased a new position in shares of ServiceNow in the 3rd quarter valued at approximately $101,000. Alpha Windward LLC purchased a new position in shares of ServiceNow in the 2nd quarter valued at approximately $102,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of ServiceNow in the 3rd quarter valued at approximately $117,000. Valeo Financial Advisors LLC lifted its stake in shares of ServiceNow by 89.6% in the 3rd quarter. Valeo Financial Advisors LLC now owns 931 shares of the information technology services provider’s stock valued at $169,000 after purchasing an additional 440 shares during the period. Finally, Chevy Chase Trust Holdings Inc. purchased a new position in shares of ServiceNow in the 2nd quarter valued at approximately $204,000. Institutional investors own 94.76% of the company’s stock.

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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