ServiceNow (NYSE:NOW) Posts Quarterly Earnings Results, Beats Estimates By $0.28 EPS

ServiceNow (NYSE:NOW) posted its quarterly earnings data on Wednesday. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.28, Briefing.com reports. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the previous year, the firm posted $0.77 EPS. The business’s revenue was up 22.2% compared to the same quarter last year.

ServiceNow Stock Performance

NOW stock traded down $1.18 during trading hours on Friday, reaching $827.61. The stock had a trading volume of 2,410,057 shares, compared to its average volume of 1,525,403. The stock has a market capitalization of $169.66 billion, a PE ratio of 88.51, a price-to-earnings-growth ratio of 5.20 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.05. The stock has a 50-day simple moving average of $744.03 and a 200 day simple moving average of $750.93. ServiceNow has a fifty-two week low of $527.24 and a fifty-two week high of $850.33.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NOW. Piper Sandler lifted their target price on shares of ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research report on Thursday. UBS Group reduced their target price on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Truist Financial boosted their price target on shares of ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research note on Thursday. Morgan Stanley boosted their price target on shares of ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Finally, Robert W. Baird boosted their price target on shares of ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $833.57.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Christopher Bedi sold 215 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the sale, the insider now owns 15,892 shares in the company, valued at $11,124,400. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Paul John Smith sold 602 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $769.75, for a total value of $463,389.50. Following the transaction, the insider now directly owns 3,619 shares of the company’s stock, valued at $2,785,725.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Bedi sold 215 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the transaction, the insider now directly owns 15,892 shares in the company, valued at $11,124,400. The disclosure for this sale can be found here. Insiders sold a total of 5,530 shares of company stock worth $3,997,012 over the last quarter. 0.25% of the stock is currently owned by insiders.

About ServiceNow

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.