In the latest trading session, ServiceNow (NOW) closed at $556.36, marking a -0.34% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.75%.Prior to today's trading, shares of the maker of software that automates companies' technology operations had gained 5.26% over the past month. This has outpaced the Computer and Technology sector's gain of 3.03% and the S&P 500's gain of 2.74% in that time.NOW will be looking to display strength as it nears its next earnings release, which is expected to be July 28, 2021. In that report, analysts expect NOW to post earnings of $1.20 per share. This would mark a year-over-year decline of 2.44%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.36 billion, up 26.76% from the year-ago period.NOW's full-year Zacks Consensus Estimates are calling for earnings of $5.50 per share and revenue of $5.72 billion. These results would represent year-over-year changes of +18.79% and +26.57%, respectively.Investors should also note any recent changes to analyst estimates for NOW. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.09% higher within the past month. NOW is currently a Zacks Rank #1 (Strong Buy).Digging into valuation, NOW currently has a Forward P/E ratio of 101.55. For comparison, its industry has an average Forward P/E of 30.62, which means NOW is trading at a premium to the group.We can also see that NOW currently has a PEG ratio of 3.65. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Computers - IT Services was holding an average PEG ratio of 1.81 at yesterday's closing price.The Computers - IT Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 184, putting it in the bottom 28% of all 250+ industries.The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.To follow NOW in the coming trading sessions, be sure to utilize Zacks.com. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ServiceNow, Inc. (NOW): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research