ServiceNow, Inc. provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools. The company also provides information technology (IT) service management applications; IT service management product suite for enterprise's employees, customers, and partners; IT business management product suite; IT operations management product that connects a customer's physical and cloud-based IT infrastructure; IT Asset Management to automate IT asset lifecycles; and security operations that connects with internal and third party. In addition, it offers governance, risk, and compliance product to manage risk and resilience; human resources, legal, and workplace service delivery products; safe workplace applications; customer service management product; and field service management applications. Further, it provides App Engine product; IntegrationHub enables application to extend workflows; and professional, industry solutions, and customer support services. It serves government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil and gas, education, and consumer products through direct sales team and resale partners. It has a strategic partnership with Celonis to help customers identify and prioritize processes that are suitable for automation. The company was formerly known as Service-now.com and changed its name to ServiceNow, Inc. in May 2012. The company was founded in 2004 and is headquartered in Santa Clara, California.
ServiceNow Stock Performance
NYSE:NOW opened at $494.95 on Tuesday. The stock has a market cap of $99.98 billion, a PE ratio of 543.90, a P/E/G ratio of 10.04 and a beta of 0.94. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. ServiceNow has a twelve month low of $406.47 and a twelve month high of $707.60. The stock has a fifty day simple moving average of $466.68 and a 200-day simple moving average of $503.45.
ServiceNow (NYSE:NOW - Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.08. The business had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.76 billion. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The company's revenue was up 24.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.38 EPS. Equities analysts anticipate that ServiceNow will post 1.73 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the stock. Stifel Nicolaus reduced their target price on shares of ServiceNow from $650.00 to $550.00 in a report on Wednesday, May 25th. Wells Fargo & Company dropped their price target on ServiceNow from $600.00 to $550.00 and set an "overweight" rating on the stock in a research note on Monday, July 25th. KeyCorp dropped their price target on ServiceNow from $567.00 to $520.00 and set an "overweight" rating on the stock in a research note on Thursday, July 28th. Credit Suisse Group dropped their price target on ServiceNow from $700.00 to $650.00 and set an "outperform" rating on the stock in a research note on Thursday, July 28th. Finally, Morgan Stanley dropped their price target on ServiceNow from $594.00 to $575.00 and set an "overweight" rating on the stock in a research note on Thursday, July 14th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-nine have given a buy rating to the company. Based on data from MarketBeat.com, ServiceNow presently has an average rating of "Moderate Buy" and an average price target of $601.80.
Insider Transactions at ServiceNow
In other news, Director Frederic B. Luddy sold 6,600 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $465.86, for a total transaction of $3,074,676.00. Following the completion of the transaction, the director now directly owns 33,000 shares in the company, valued at approximately $15,373,380. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, COO Chirantan Jitendra Desai sold 7,000 shares of the firm's stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $477.52, for a total transaction of $3,342,640.00. Following the completion of the transaction, the chief operating officer now directly owns 38,980 shares in the company, valued at approximately $18,613,729.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frederic B. Luddy sold 6,600 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $465.86, for a total value of $3,074,676.00. Following the completion of the sale, the director now directly owns 33,000 shares in the company, valued at approximately $15,373,380. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,510 shares of company stock worth $15,196,656. 0.28% of the stock is currently owned by company insiders.
