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 Down 1.5 %
Shares of NYSE:NOW opened at $496.74 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market cap of $100.34 billion, a price-to-earnings ratio of 545.87, a P/E/G ratio of 10.23 and a beta of 0.94. The company has a 50 day moving average of $468.11 and a 200-day moving average of $502.83. ServiceNow has a one year low of $406.47 and a one year high of $707.60.
ServiceNow (NYSE:NOW - Get Rating) last issued its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 EPS for the quarter, beating the consensus estimate of $0.12 by $0.08. The company had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.76 billion. ServiceNow had a net margin of 2.79% and a return on equity of 7.22%. The business's revenue for the quarter was up 24.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS. On average, sell-side analysts forecast that ServiceNow will post 1.73 earnings per share for the current year.
Analyst Upgrades and Downgrades
NOW has been the subject of a number of research analyst reports. Mizuho cut their target price on shares of ServiceNow from $520.00 to $500.00 and set a "buy" rating for the company in a research report on Thursday, July 28th. JMP Securities reduced their price objective on ServiceNow from $705.00 to $553.00 and set a "market outperform" rating for the company in a research report on Thursday, July 28th. Jefferies Financial Group dropped their target price on ServiceNow from $700.00 to $550.00 in a research report on Monday, May 23rd. Credit Suisse Group reduced their price target on ServiceNow from $700.00 to $650.00 and set an "outperform" rating for the company in a report on Thursday, July 28th. Finally, Wells Fargo & Company dropped their price objective on ServiceNow from $600.00 to $550.00 and set an "overweight" rating on the stock in a report on Monday, July 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating and twenty-nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $598.84.
Insider Activity
In related news, COO Chirantan Jitendra Desai sold 7,000 shares of the business's stock in a transaction that occurred on Friday, May 27th. The shares were 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 owns 38,980 shares in the company, valued at $18,613,729.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other ServiceNow news, COO Chirantan Jitendra Desai sold 7,000 shares of the business's stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $477.52, for a total value of $3,342,640.00. Following the completion of the transaction, the chief operating officer now directly owns 38,980 shares of the company's stock, valued at $18,613,729.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul John Smith sold 130 shares of the firm's stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $502.81, for a total value of $65,365.30. Following the sale, the insider now directly owns 2,157 shares in the company, valued at approximately $1,084,561.17. The disclosure for this sale can be found here. Insiders sold a total of 33,258 shares of company stock valued at $15,622,745 in the last ninety days. 0.28% of the stock is owned by insiders.
