ServiceNow, Inc. (NYSE:NOW) issued its earnings results on Tuesday. The information technology services provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06, Bloomberg Earnings reports. ServiceNow had a negative return on equity of 29.05% and a negative net margin of 10.17%. The business had revenue of $498.20 million during the quarter, compared to analyst estimates of $491.62 million. During the same period in the previous year, the company posted $0.23 EPS. The firm’s revenue was up 39.3% compared to the same quarter last year.
ServiceNow (NOW) traded down 1.01% during trading on Wednesday, reaching $124.62. The company had a trading volume of 3,199,863 shares. ServiceNow has a 12-month low of $72.80 and a 12-month high of $129.56. The firm’s market capitalization is $21.27 billion. The firm’s 50 day moving average price is $118.60 and its 200 day moving average price is $107.46.
In other news, Director Frederic B. Luddy sold 50,000 shares of ServiceNow stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $120.82, for a total transaction of $6,041,000.00. Following the transaction, the director now owns 29,990 shares in the company, valued at approximately $3,623,391.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frederic B. Luddy sold 100,000 shares of ServiceNow stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $120.51, for a total transaction of $12,051,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,172,353 shares of company stock valued at $133,460,161. 3.30% of the stock is currently owned by insiders.
A number of analysts recently commented on NOW shares. BidaskClub raised ServiceNow from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $141.00 target price on shares of ServiceNow in a research report on Wednesday, June 28th. Zacks Investment Research raised ServiceNow from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. OTR Global lowered ServiceNow to a “positive” rating in a research report on Friday, July 14th. Finally, Morgan Stanley reissued an “overweight” rating and set a $134.00 price objective (up from $124.00) on shares of ServiceNow in a report on Thursday, July 20th. Seven investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and three have issued a strong buy rating to the company’s stock. ServiceNow presently has an average rating of “Buy” and an average price target of $122.56.
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.