FY2025 Earnings Estimate for ServiceNow Issued By Scotiabank

ServiceNow, Inc. (NYSE:NOW) – Investment analysts at Scotiabank dropped their FY2025 earnings estimates for shares of ServiceNow in a report released on Wednesday, March 19th. Scotiabank analyst A. Verkhovski now expects that the information technology services provider will post earnings of $8.86 per share for the year, down from their previous forecast of $9.17. Scotiabank has a “Sector Outperform” rating and a $1,050.00 price objective on the stock. The consensus estimate for ServiceNow’s current full-year earnings is $8.93 per share.

A number of other research firms have also recently weighed in on NOW. Needham & Company LLC boosted their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. KeyCorp lowered ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Mizuho cut their target price on shares of ServiceNow from $1,210.00 to $1,100.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 11th. Guggenheim restated a “sell” rating and issued a $716.00 price target on shares of ServiceNow in a research report on Wednesday, January 22nd. Finally, Piper Sandler boosted their price objective on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,100.31.

ServiceNow Stock Performance

ServiceNow stock opened at $851.56 on Monday. The stock has a market cap of $175.42 billion, a PE ratio of 124.68, a P/E/G ratio of 4.51 and a beta of 1.03. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow has a 12-month low of $637.99 and a 12-month high of $1,198.09. The business’s 50-day moving average price is $968.10 and its two-hundred day moving average price is $985.50.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%.

ServiceNow declared that its Board of Directors has authorized a stock buyback program on Wednesday, January 29th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,370,654.28. The trade was a 44.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gina Mastantuono sold 4,442 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the sale, the chief financial officer now directly owns 11,126 shares of the company’s stock, valued at $10,733,252.20. This represents a 28.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,351 shares of company stock worth $20,050,076. 0.25% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ServiceNow

Institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP acquired a new position in ServiceNow during the 4th quarter valued at approximately $27,000. Atala Financial Inc acquired a new stake in ServiceNow during the 4th quarter worth about $28,000. Truvestments Capital LLC purchased a new stake in ServiceNow during the 3rd quarter valued at about $30,000. LFA Lugano Financial Advisors SA purchased a new position in shares of ServiceNow in the fourth quarter worth about $32,000. Finally, FPC Investment Advisory Inc. lifted its holdings in shares of ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 29 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

About ServiceNow

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.