FY2025 Earnings Forecast for ServiceNow Issued By Scotiabank

ServiceNow, Inc. (NYSE:NOW - Free Report) - Research analysts at Scotiabank decreased their FY2025 earnings per share (EPS) estimates for shares of ServiceNow in a note issued to investors on Wednesday, March 19th. Scotiabank analyst A. Verkhovski now anticipates that the information technology services provider will post earnings of $8.86 per share for the year, down from their prior forecast of $9.17. Scotiabank currently has a "Sector Outperform" rating and a $1,050.00 price objective on the stock. The consensus estimate for ServiceNow's current full-year earnings is $8.93 per share.

NOW has been the topic of a number of other reports. William Blair reaffirmed an "outperform" rating on shares of ServiceNow in a research report on Friday, March 7th. Raymond James started coverage on shares of ServiceNow in a report on Tuesday, December 24th. They set an "outperform" rating and a $1,200.00 price target on the stock. Piper Sandler raised their price objective on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Royal Bank of Canada set a $986.00 target price on shares of ServiceNow in a research note on Tuesday, March 11th. Finally, Needham & Company LLC increased their price target on ServiceNow from $1,150.00 to $1,200.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have given a buy rating to the company's stock. According to MarketBeat.com, ServiceNow has a consensus rating of "Moderate Buy" and an average target price of $1,093.76.

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ServiceNow Stock Performance

NYSE NOW traded down $9.82 on Monday, hitting $828.73. 1,478,883 shares of the company traded hands, compared to its average volume of 1,357,056. The business's 50 day moving average price is $960.38 and its 200-day moving average price is $984.72. ServiceNow has a 52-week low of $637.99 and a 52-week high of $1,198.09. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $170.72 billion, a price-to-earnings ratio of 121.34, a P/E/G ratio of 4.51 and a beta of 1.03.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%.

Institutional Trading of ServiceNow

Hedge funds have recently added to or reduced their stakes in the business. World Investment Advisors LLC lifted its position in shares of ServiceNow by 499,668.1% in the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider's stock worth $4,268,731,000 after purchasing an additional 4,771,830 shares during the period. Norges Bank purchased a new stake in shares of ServiceNow during the 4th quarter valued at $2,603,360,000. Bank of Montreal Can boosted its position in shares of ServiceNow by 216.6% in the 3rd quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider's stock worth $1,206,178,000 after purchasing an additional 935,848 shares in the last quarter. Proficio Capital Partners LLC grew its stake in ServiceNow by 154,255.3% during the 4th quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock worth $667,000 after buying an additional 666,383 shares during the last quarter. Finally, Alphinity Investment Management Pty Ltd acquired a new position in ServiceNow during the 4th quarter valued at about $682,468,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 4,442 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the transaction, the chief financial officer now directly owns 11,126 shares in the company, valued at $10,733,252.20. This trade represents a 28.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total value of $2,720,355.40. Following the completion of the sale, the insider now owns 3,649 shares of the company's stock, valued at $3,370,654.28. This represents a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock worth $20,050,076 in the last quarter. 0.25% of the stock is owned by company insiders.

ServiceNow declared that its board has initiated a stock buyback plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

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.