EntryPoint Capital LLC Invests $370,000 in ServiceNow, Inc. $NOW

Key Points

• EntryPoint Capital LLC has made a new investment of $370,000 in ServiceNow, acquiring 465 shares of the company during the first quarter.
• ServiceNow reported a net revenue of $3.22 billion for the last quarter, exceeding analysts' estimates, and earnings per share (EPS) of $4.09, surpassing consensus estimates by $0.52.
• The stock price of ServiceNow has seen a 1.4% decline, with the shares opening at $877.6850 on Friday during a volatile market period.

EntryPoint Capital LLC bought a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 465 shares of the information technology services provider's stock, valued at approximately $370,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bogart Wealth LLC grew its position in shares of ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after buying an additional 17 shares during the period. Graybill Wealth Management LTD. purchased a new stake in shares of ServiceNow in the 1st quarter worth about $26,000. Quarry LP purchased a new stake in shares of ServiceNow in the 4th quarter worth about $27,000. WASHINGTON TRUST Co grew its position in shares of ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after buying an additional 31 shares during the period. Finally, Dagco Inc. purchased a new stake in shares of ServiceNow in the 1st quarter worth about $33,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,698 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the transaction, the general counsel owned 4,332 shares in the company, valued at approximately $3,830,614.32. This represents a 28.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gina Mastantuono sold 1,762 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the completion of the transaction, the chief financial officer owned 12,228 shares in the company, valued at $10,594,950.60. This trade represents a 12.59% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,096 shares of company stock worth $14,807,562. 0.38% of the stock is owned by company insiders.

ServiceNow Stock Performance

NOW traded up $8.8230 during midday trading on Friday, hitting $885.7930. 1,083,474 shares of the company traded hands, compared to its average volume of 1,866,238. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $184.24 billion, a PE ratio of 111.56, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93. The company's 50-day moving average is $955.00 and its 200 day moving average is $929.03. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.52. The business had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business's revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.13 EPS. On average, research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

Analyst Ratings Changes

NOW has been the topic of a number of recent research reports. Oppenheimer reaffirmed an "outperform" rating and issued a $1,150.00 target price (up from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. DA Davidson increased their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Guggenheim reissued a "sell" rating and set a $724.00 price objective on shares of ServiceNow in a research report on Thursday, July 17th. Erste Group Bank reissued a "hold" rating on shares of ServiceNow in a research report on Wednesday, July 23rd. Finally, Mizuho increased their price objective on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the company an "outperform" rating in a research report on Thursday, June 12th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,115.20.

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.