ServiceNow (NOW) to Release Earnings on Wednesday

ServiceNow (NYSE:NOW - Get Free Report) is projected to post its quarterly earnings results after the market closes on Wednesday, April 23rd. Analysts expect ServiceNow to post earnings of $3.78 per share and revenue of $3.09 billion for the quarter. Individual that are interested in participating in the company's earnings conference call can do so using this link.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, analysts expect ServiceNow to post $9 EPS for the current fiscal year and $11 EPS for the next fiscal year.

ServiceNow Price Performance

ServiceNow stock traded down $24.48 during mid-day trading on Friday, reaching $772.18. 1,802,088 shares of the company were exchanged, compared to its average volume of 1,480,170. The firm has a market cap of $159.84 billion, a PE ratio of 113.06, a PEG ratio of 4.51 and a beta of 1.08. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The company has a fifty day simple moving average of $852.94 and a 200-day simple moving average of $970.14. ServiceNow has a 12 month low of $637.99 and a 12 month high of $1,198.09.

ServiceNow declared that its board has approved a share buyback plan on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other ServiceNow news, CEO William R. Mcdermott sold 1,263 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the transaction, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,644,564.50. This represents a 32.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 354 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total value of $284,831.94. Following the sale, the insider now owns 3,027 shares of the company's stock, valued at approximately $2,435,554.47. This represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,250 shares of company stock worth $19,853,273. Corporate insiders own 0.38% of the company's stock.

Institutional Trading of ServiceNow

An institutional investor recently raised its position in ServiceNow stock. Brighton Jones LLC increased its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,753 shares of the information technology services provider's stock after acquiring an additional 30 shares during the period. Brighton Jones LLC's holdings in ServiceNow were worth $2,919,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Royal Bank of Canada set a $986.00 target price on shares of ServiceNow in a report on Tuesday, March 11th. Piper Sandler lifted 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 note on Monday, January 6th. JPMorgan Chase & Co. upped their target price on ServiceNow from $950.00 to $1,250.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Guggenheim reiterated a "sell" rating and issued a $716.00 price target on shares of ServiceNow in a research note on Wednesday. Finally, Needham & Company LLC upped their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-eight have given a buy rating to the company. According to MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and an average target price of $1,057.17.

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.