DE Burlo Group Inc. Has $4.70 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Key Points

• DE Burlo Group Inc. decreased its stake in ServiceNow by 11.9%, selling 800 shares and holding 5,900 shares worth approximately $4.7 million.
• Analysts have mixed reviews on ServiceNow, with Bank of America raising its target price to $1,200 and maintaining a "buy" rating, while Wall Street Zen downgraded the stock from "buy" to "hold."
• ServiceNow reported earnings of $4.09 per share, exceeding expectations and resulting in a 22.4% revenue increase year-over-year with a total revenue of $3.22 billion.

DE Burlo Group Inc. lessened its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 11.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,900 shares of the information technology services provider's stock after selling 800 shares during the period. DE Burlo Group Inc.'s holdings in ServiceNow were worth $4,697,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NOW. Edgemoor Investment Advisors Inc. grew its position in shares of ServiceNow by 2.5% in the 1st quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider's stock valued at $366,000 after purchasing an additional 11 shares during the period. Capital Investment Advisory Services LLC boosted its holdings in shares of ServiceNow by 2.1% in the 1st quarter. Capital Investment Advisory Services LLC now owns 577 shares of the information technology services provider's stock valued at $459,000 after buying an additional 12 shares during the last quarter. Kesler Norman & Wride LLC boosted its holdings in shares of ServiceNow by 1.2% in the 4th quarter. Kesler Norman & Wride LLC now owns 1,092 shares of the information technology services provider's stock valued at $1,157,000 after buying an additional 13 shares during the last quarter. Sepio Capital LP boosted its holdings in shares of ServiceNow by 3.8% in the 4th quarter. Sepio Capital LP now owns 359 shares of the information technology services provider's stock valued at $381,000 after buying an additional 13 shares during the last quarter. Finally, Mission Creek Capital Partners Inc. raised its stake in ServiceNow by 0.5% in the 4th quarter. Mission Creek Capital Partners Inc. now owns 2,392 shares of the information technology services provider's stock valued at $2,536,000 after acquiring an additional 13 shares during the period. Institutional investors own 87.18% of the company's stock.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 257 shares of ServiceNow stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $985.00, for a total value of $253,145.00. Following the transaction, the insider owned 3,027 shares in the company, valued at $2,981,595. The trade was a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the completion of the transaction, the chief executive officer owned 6,614 shares in the company, valued at approximately $6,693,434.14. This represents a 23.66% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,233 shares of company stock valued at $5,297,758. Company insiders own 0.38% of the company's stock.

Analyst Ratings Changes

NOW has been the topic of a number of research analyst reports. Barclays set a $1,210.00 price target on ServiceNow in a research note on Thursday, July 24th. Piper Sandler increased their price target on ServiceNow from $1,120.00 to $1,150.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Robert W. Baird increased their price target on ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Stifel Nicolaus increased their price objective on ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company increased their price objective on ServiceNow from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,115.20.

ServiceNow Price Performance

NYSE:NOW traded down $9.59 during trading hours on Wednesday, hitting $983.61. The company's stock had a trading volume of 380,956 shares, compared to its average volume of 1,683,125. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a fifty day simple moving average of $998.96 and a 200-day simple moving average of $951.86. The company has a market capitalization of $204.59 billion, a P/E ratio of 123.88, a PEG ratio of 4.44 and a beta of 0.94.

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

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.