ServiceNow, Inc. (NYSE:NOW) posted its earnings results on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02, Bloomberg Earnings reports. The company had revenue of $471.70 million during the quarter, compared to analysts’ expectations of $462.11 million. ServiceNow had a negative net margin of 10.17% and a negative return on equity of 29.05%. ServiceNow’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 earnings per share.
ServiceNow (NOW) opened at 107.31 on Wednesday. ServiceNow has a 52-week low of $71.25 and a 52-week high of $115.85. The company’s 50 day moving average is $108.27 and its 200-day moving average is $97.46. The company’s market capitalization is $18.32 billion.
Several equities analysts have recently issued reports on the stock. BidaskClub raised shares of ServiceNow from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 2nd. Piper Jaffray Companies reaffirmed a “hold” rating on shares of ServiceNow in a research report on Friday, July 28th. TheStreet raised shares of ServiceNow from a “d” rating to a “c-” rating in a research report on Wednesday, July 26th. Stifel Nicolaus reissued a “hold” rating and set a $110.00 price target (up from $93.00) on shares of ServiceNow in a research report on Thursday, July 27th. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $123.00 target price (up from $110.00) on shares of ServiceNow in a report on Thursday, July 27th. Eight investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have assigned a strong buy rating to the company. ServiceNow currently has an average rating of “Buy” and an average price target of $115.96.
In related news, CRO David Schneider sold 6,430 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $99.50, for a total value of $639,785.00. Following the sale, the executive now owns 33,466 shares in the company, valued at $3,329,867. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frank Slootman sold 252,211 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $109.19, for a total value of $27,538,919.09. Following the completion of the sale, the director now owns 356,287 shares in the company, valued at approximately $38,902,977.53. The disclosure for this sale can be found here. Insiders sold 777,283 shares of company stock valued at $83,960,151 over the last 90 days. 3.30% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. LS Investment Advisors LLC increased its position in ServiceNow by 3.6% in the second quarter. LS Investment Advisors LLC now owns 1,738 shares of the information technology services provider’s stock valued at $184,000 after buying an additional 61 shares in the last quarter. Commonwealth Bank of Australia boosted its stake in shares of ServiceNow by 5.8% in the second quarter. Commonwealth Bank of Australia now owns 1,518 shares of the information technology services provider’s stock valued at $159,000 after buying an additional 83 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of ServiceNow by 2.5% in the first quarter. Nordea Investment Management AB now owns 3,567 shares of the information technology services provider’s stock valued at $312,000 after buying an additional 88 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of ServiceNow by 1.4% in the first quarter. Janney Montgomery Scott LLC now owns 6,794 shares of the information technology services provider’s stock valued at $594,000 after buying an additional 93 shares during the last quarter. Finally, Crow Point Partners LLC boosted its stake in shares of 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 valued at $140,000 after buying an additional 107 shares during the last quarter. 98.25% of the stock is owned by institutional investors and hedge funds.
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About ServiceNow
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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