DE Burlo Group Inc. Buys New Stake in ServiceNow, Inc. (NYSE:NOW)

DE Burlo Group Inc. bought a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 6,700 shares of the information technology services provider's stock, valued at approximately $7,103,000.

Other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new position in ServiceNow in the fourth quarter worth about $2,603,360,000. Proficio Capital Partners LLC lifted its position in ServiceNow by 154,255.3% in the 4th quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock valued at $667,000 after acquiring an additional 666,383 shares in the last quarter. Alphinity Investment Management Pty Ltd purchased a new stake in ServiceNow during the 4th quarter valued at $682,468,000. Price T Rowe Associates Inc. MD raised its stake in shares of ServiceNow by 6.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock worth $8,434,235,000 after purchasing an additional 509,467 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of ServiceNow during the fourth quarter valued at $393,868,000. 87.18% of the stock is currently owned by institutional investors.

Insider Transactions at ServiceNow

In other news, Director Deborah Black sold 598 shares of the business's stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $940.23, for a total transaction of $562,257.54. Following the sale, the director now owns 428 shares in the company, valued at approximately $402,418.44. The trade was a 58.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 292 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $3,080,123.85. This represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,618 shares of company stock valued at $21,132,878. Company insiders own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NOW shares. Robert W. Baird boosted their target price on ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Redburn Atlantic initiated coverage on shares of ServiceNow in a report on Wednesday, February 19th. They issued a "buy" rating on the stock. Stifel Nicolaus set a $975.00 target price on shares of ServiceNow and gave the company a "buy" rating in a research note on Thursday, April 24th. Truist Financial cut their price objective on ServiceNow from $1,100.00 to $950.00 and set a "hold" rating for the company in a report on Monday, March 31st. Finally, StockNews.com downgraded ServiceNow from a "buy" rating to a "hold" rating in a report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,032.94.

ServiceNow Trading Down 0.1 %

NOW stock traded down $1.12 during trading on Wednesday, hitting $941.74. The company had a trading volume of 554,756 shares, compared to its average volume of 1,504,842. The firm has a market capitalization of $194.94 billion, a P/E ratio of 137.88, a PEG ratio of 4.51 and a beta of 1.08. 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, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. The company has a 50 day simple moving average of $837.19 and a 200-day simple moving average of $967.68.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the previous year, the firm posted $3.41 earnings per share. The company's revenue was up 18.6% on a year-over-year basis. As a group, research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its Board of Directors has authorized a share repurchase plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

ServiceNow 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.