ServiceNow (NYSE:NOW) Releases Quarterly Earnings Results, Beats Estimates By $0.26 EPS

ServiceNow (NYSE:NOW) released its quarterly earnings data on Wednesday. The information technology services provider reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.26, Briefing.com reports. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company’s revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.21 EPS.

ServiceNow Stock Performance

Shares of NYSE NOW traded down $5.73 during trading on Friday, reaching $950.85. The stock had a trading volume of 1,464,601 shares, compared to its average volume of 1,286,547. The stock has a market cap of $195.88 billion, a PE ratio of 172.19, a P/E/G ratio of 5.04 and a beta of 0.99. The firm’s 50 day moving average price is $883.09 and its two-hundred day moving average price is $796.21. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow has a one year low of $548.44 and a one year high of $979.78.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NOW shares. Truist Financial lifted their price objective on ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a research note on Wednesday. TD Cowen boosted their price target on ServiceNow from $900.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Monday. Jefferies Financial Group boosted their price target on ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. BMO Capital Markets boosted their price target on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Finally, Oppenheimer boosted their price target on ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $970.33.

Insider Buying and Selling

In related news, Director Paul Edward Chamberlain sold 135 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $822.00, for a total transaction of $110,970.00. Following the completion of the transaction, the director now directly owns 10,767 shares in the company, valued at $8,850,474. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at $2,799,853.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul Edward Chamberlain sold 135 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $822.00, for a total value of $110,970.00. Following the completion of the transaction, the director now directly owns 10,767 shares of the company’s stock, valued at approximately $8,850,474. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,467 shares of company stock worth $4,450,447 in the last three months. 0.25% of the stock is owned by insiders.

ServiceNow Company Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.