Cantor Fitzgerald Predicts Weaker Earnings for ServiceNow

ServiceNow, Inc. (NYSE:NOW) – Equities researchers at Cantor Fitzgerald decreased their FY2025 EPS estimates for shares of ServiceNow in a research report issued to clients and investors on Thursday, January 30th. Cantor Fitzgerald analyst T. Blakey now anticipates that the information technology services provider will post earnings of $8.94 per share for the year, down from their previous estimate of $9.63. Cantor Fitzgerald currently has a “Strong-Buy” rating and a $1,332.00 target price on the stock. The consensus estimate for ServiceNow’s current full-year earnings is $8.98 per share.

A number of other research analysts have also issued reports on the stock. Scotiabank began coverage on shares of ServiceNow in a research note on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and set a $1,210.00 price target on shares of ServiceNow in a research note on Thursday. Stifel Nicolaus upped their price target on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Oppenheimer upped their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Canaccord Genuity Group upped their price target on shares of ServiceNow from $1,200.00 to $1,275.00 and gave the company a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,129.93.

ServiceNow Trading Up 0.7 %

NYSE NOW opened at $1,020.17 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow has a 52 week low of $637.99 and a 52 week high of $1,198.09. The firm has a market cap of $210.16 billion, a PE ratio of 149.37, a price-to-earnings-growth ratio of 5.19 and a beta of 0.99. The company has a 50 day moving average price of $1,083.66 and a 200 day moving average price of $955.82.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.56%.

Institutional Trading of ServiceNow

A number of hedge funds have recently made changes to their positions in NOW. Polymer Capital Management HK LTD boosted its holdings in ServiceNow by 57.0% in the third quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock worth $2,416,000 after purchasing an additional 981 shares during the period. Union Bancaire Privee UBP SA acquired a new position in ServiceNow in the fourth quarter worth $48,802,000. Avidian Wealth Enterprises LLC boosted its holdings in ServiceNow by 39.4% in the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock worth $436,000 after purchasing an additional 138 shares during the period. Venturi Wealth Management LLC boosted its holdings in ServiceNow by 36.4% in the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock worth $2,565,000 after purchasing an additional 765 shares during the period. Finally, Cardano Risk Management B.V. acquired a new position in ServiceNow in the fourth quarter worth $105,090,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. This represents a 82.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jacqueline P. Canney sold 66 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $3,173,173.83. The trade was a 2.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,731 shares of company stock worth $21,016,751 in the last three months. Company insiders own 0.25% of the company’s stock.

ServiceNow announced that its board has initiated a share repurchase plan on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

ServiceNow Company Profile

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.