Wall Street analysts predict that ServiceNow, Inc. (NYSE:NOW) will announce sales of $1.36 billion for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have made estimates for ServiceNow’s earnings. The lowest sales estimate is $1.35 billion and the highest is $1.36 billion. ServiceNow reported sales of $1.07 billion during the same quarter last year, which would suggest a positive year over year growth rate of 27.1%. The business is expected to announce its next earnings results on Wednesday, August 4th.
On average, analysts expect that ServiceNow will report full-year sales of $5.72 billion for the current fiscal year, with estimates ranging from $5.59 billion to $5.75 billion. For the next fiscal year, analysts forecast that the company will post sales of $7.13 billion, with estimates ranging from $6.96 billion to $7.27 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover ServiceNow.
ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 28th. The information technology services provider reported $1.52 EPS for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.17. ServiceNow had a net margin of 3.15% and a return on equity of 9.32%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. ServiceNow’s revenue for the quarter was up 30.0% compared to the same quarter last year.
Shares of NYSE:NOW traded up $24.42 during mid-day trading on Thursday, reaching $489.13. 3,026,185 shares of the company were exchanged, compared to its average volume of 1,597,214. ServiceNow has a 1 year low of $372.87 and a 1 year high of $598.37. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.23 and a current ratio of 1.23. The company has a 50-day moving average price of $498.74. The company has a market cap of $96.58 billion, a price-to-earnings ratio of 652.17, a price-to-earnings-growth ratio of 13.80 and a beta of 0.93.
In other news, Director Teresa Briggs sold 546 shares of the stock in a transaction that occurred on Thursday, April 1st. The stock was sold at an average price of $508.00, for a total value of $277,368.00. Following the completion of the sale, the director now directly owns 932 shares of the company’s stock, valued at $473,456. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frederic B. Luddy sold 16,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 6th. The stock was sold at an average price of $510.46, for a total transaction of $8,422,590.00. Following the transaction, the director now owns 811 shares in the company, valued at $413,983.06. The disclosure for this sale can be found here. Insiders sold 17,154 shares of company stock valued at $8,755,315 in the last 90 days. 0.72% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the stock. OLD Second National Bank of Aurora acquired a new position in ServiceNow in the first quarter valued at $25,000. Manchester Financial Inc. grew its holdings in shares of ServiceNow by 685.7% during the first quarter. Manchester Financial Inc. now owns 55 shares of the information technology services provider’s stock worth $28,000 after buying an additional 48 shares during the last quarter. Reilly Financial Advisors LLC raised its stake in ServiceNow by 56.8% during the 1st quarter. Reilly Financial Advisors LLC now owns 58 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 21 shares during the last quarter. Sterling Financial Planning Inc. purchased a new stake in ServiceNow during the 4th quarter valued at approximately $30,000. Finally, Wolverine Asset Management LLC lifted its position in ServiceNow by 1,160.0% during the 1st quarter. Wolverine Asset Management LLC now owns 63 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 58 shares during the period. Hedge funds and other institutional investors own 85.69% of the company’s stock.
ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform that offers workflow automation, artificial intelligence, machine learning, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.
Further Reading: Understanding Price to Earnings Ratio (PE)
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