ServiceNow, Inc. (NYSE:NOW) announced its quarterly earnings results on Wednesday. The information technology services provider reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02, Bloomberg Earnings reports. ServiceNow had a negative return on equity of 31.34% and a negative net margin of 10.60%. The company had revenue of $471.70 million during the quarter, compared to analyst estimates of $462.11 million. During the same period in the prior year, the company earned $0.15 earnings per share. The firm’s revenue was up 38.2% on a year-over-year basis.
Shares of ServiceNow (NYSE NOW) traded up 0.4221% on Friday, hitting $111.0066. The stock had a trading volume of 790,411 shares. ServiceNow has a 12-month low of $70.76 and a 12-month high of $115.85. The firm’s market cap is $18.84 billion. The stock has a 50 day moving average of $106.89 and a 200 day moving average of $95.12.
In other news, Director Frederic B. Luddy sold 52,000 shares of the company’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $109.96, for a total transaction of $5,717,920.00. Following the sale, the director now owns 11,190 shares of the company’s stock, valued at $1,230,452.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frederic B. Luddy sold 102,000 shares of the company’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $110.09, for a total value of $11,229,180.00. Following the sale, the director now directly owns 11,190 shares in the company, valued at approximately $1,231,907.10. The disclosure for this sale can be found here. Insiders have sold 581,673 shares of company stock worth $61,196,746 over the last 90 days. 3.30% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Cornerstone Advisors Inc. raised its stake in ServiceNow by 29.2% in the second quarter. Cornerstone Advisors Inc. now owns 1,085 shares of the information technology services provider’s stock worth $115,000 after buying an additional 245 shares in the last quarter. Global X Management Co. LLC raised its stake in ServiceNow by 30.6% in the first quarter. Global X Management Co. LLC now owns 1,407 shares of the information technology services provider’s stock worth $123,000 after buying an additional 330 shares in the last quarter. Hartford Financial Management Inc. bought a new stake in ServiceNow during the first quarter worth $125,000. TLP Group LLC bought a new stake in ServiceNow during the first quarter worth $131,000. Finally, Crow Point Partners LLC raised its stake in ServiceNow by 8.8% in the second quarter. Crow Point Partners LLC now owns 1,320 shares of the information technology services provider’s stock worth $140,000 after buying an additional 107 shares in the last quarter. 97.71% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently commented on NOW. UBS AG reissued a “buy” rating and set a $110.00 price target (up from $101.00) on shares of ServiceNow in a research note on Friday, April 28th. BidaskClub lowered ServiceNow from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Canaccord Genuity reissued a “buy” rating and set a $130.00 price target (up from $110.00) on shares of ServiceNow in a research note on Thursday. JMP Securities reissued an “outperform” rating on shares of ServiceNow in a research note on Thursday. Finally, Royal Bank Of Canada increased their price target on ServiceNow from $110.00 to $126.00 and gave the company a “top pick” rating in a research note on Monday. Eight research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $113.42.
ServiceNow Company Profile
ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.
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