Zacks: Brokerages Anticipate ServiceNow Inc (NYSE:NOW) Will Post Earnings of $0.90 Per Share

Wall Street brokerages expect ServiceNow Inc (NYSE:NOW) to report earnings per share of $0.90 for the current quarter, according to Zacks. Twelve analysts have made estimates for ServiceNow’s earnings. The highest EPS estimate is $0.96 and the lowest is $0.82. ServiceNow posted earnings of $0.68 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 32.4%. The business is expected to announce its next earnings report on Wednesday, October 23rd.

On average, analysts expect that ServiceNow will report full year earnings of $3.24 per share for the current fiscal year, with EPS estimates ranging from $3.12 to $3.35. For the next year, analysts expect that the firm will report earnings of $4.36 per share, with EPS estimates ranging from $4.06 to $4.78. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow ServiceNow.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. ServiceNow had a net margin of 0.09% and a return on equity of 4.44%. The company had revenue of $833.90 million for the quarter, compared to analyst estimates of $831.50 million. During the same period in the prior year, the firm earned $0.49 earnings per share. The company’s revenue was up 32.1% on a year-over-year basis.

A number of equities analysts recently commented on NOW shares. Argus raised their price target on shares of ServiceNow from $260.00 to $304.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Robert W. Baird raised their price target on shares of ServiceNow from $275.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Bank of America reaffirmed a “buy” rating and set a $330.00 price target (up from $300.00) on shares of ServiceNow in a research report on Thursday, July 25th. Needham & Company LLC raised their price target on shares of ServiceNow from $276.00 to $320.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. Finally, BTIG Research reaffirmed a “buy” rating and set a $320.00 price target on shares of ServiceNow in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the stock. ServiceNow has an average rating of “Buy” and a consensus target price of $287.86.

NYSE:NOW traded down $3.61 during mid-day trading on Wednesday, reaching $277.39. 2,060,978 shares of the company’s stock were exchanged, compared to its average volume of 1,861,225. ServiceNow has a one year low of $147.63 and a one year high of $303.17. The stock has a market capitalization of $51.84 billion, a price-to-earnings ratio of 1,386.95, a PEG ratio of 21.92 and a beta of 1.33. The business’s fifty day moving average is $287.11. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.88.

In other news, insider Patricia L. Wadors sold 1,559 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $263.61, for a total value of $410,967.99. Following the sale, the insider now directly owns 3,093 shares in the company, valued at approximately $815,345.73. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Scarpelli sold 25,899 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $278.41, for a total transaction of $7,210,540.59. Following the completion of the sale, the insider now owns 37,071 shares in the company, valued at $10,320,937.11. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,092 shares of company stock worth $33,064,052. 1.00% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Cornerstone Advisors Inc. lifted its position in shares of ServiceNow by 3.6% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,212 shares of the information technology services provider’s stock worth $333,000 after purchasing an additional 42 shares during the period. Cigna Investments Inc. New increased its stake in ServiceNow by 2.0% during the 1st quarter. Cigna Investments Inc. New now owns 2,652 shares of the information technology services provider’s stock valued at $654,000 after purchasing an additional 53 shares in the last quarter. Sandy Spring Bank increased its stake in ServiceNow by 118.0% during the 1st quarter. Sandy Spring Bank now owns 109 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 59 shares in the last quarter. Castle Rock Wealth Management LLC increased its stake in ServiceNow by 3.5% during the 4th quarter. Castle Rock Wealth Management LLC now owns 1,815 shares of the information technology services provider’s stock valued at $414,000 after purchasing an additional 61 shares in the last quarter. Finally, Allred Capital Management LLC increased its stake in ServiceNow by 3.5% during the 2nd quarter. Allred Capital Management LLC now owns 1,888 shares of the information technology services provider’s stock valued at $543,000 after purchasing an additional 63 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Earnings History and Estimates for ServiceNow (NYSE:NOW)

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