ServiceNow Stock Falls As CFO Plans Departure From Software Maker

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Shares of ServiceNow ( NOW ) dropped Thursday as analysts bemoaned the departure of its longtime chief financial officer. X ServiceNow announced CFO Mike Scarpelli plans to leave the enterprise software maker in the third quarter following the release of the companys second-quarter earnings results. Mizuho Securities analyst Gregg Moskowitz added in his note to clients, "Scarpelli is leaving the company sooner than we had expected. "We certainly understand why investors may be disappointed by the (Scarpelli) departure due to ServiceNows consistently solid financial results over the last several years," Jefferies analyst Samad Samana said in a note. "However, we believe Mr. Scarpelli is leaving at a time when the waters are smooth and the company is well positioned to keep delivering solid results.

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