DE Burlo Group Inc. Acquires New Holdings in ServiceNow, Inc. (NYSE:NOW)

DE Burlo Group Inc. bought a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) during the 4th quarter, according to its most recent filing 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 large investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in ServiceNow in the 4th quarter worth approximately $2,603,360,000. Proficio Capital Partners LLC lifted its holdings in shares of ServiceNow by 154,255.3% during the 4th quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock worth $667,000 after acquiring an additional 666,383 shares during the last quarter. Alphinity Investment Management Pty Ltd purchased a new position in ServiceNow in the fourth quarter worth $682,468,000. Price T Rowe Associates Inc. MD increased its stake in 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 valued at $8,434,235,000 after acquiring an additional 509,467 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in ServiceNow during the fourth quarter valued at about $393,868,000. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Up 0.8 %

NOW traded up $7.51 on Friday, hitting $946.08. The company had a trading volume of 2,886,611 shares, compared to its average volume of 1,504,540. The stock has a fifty day simple moving average of $838.68 and a 200-day simple moving average of $967.87. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market capitalization of $195.84 billion, a P/E ratio of 138.52, a P/E/G ratio of 4.51 and a beta of 1.08. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting analysts' consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, equities analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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

Analyst Ratings Changes

A number of research firms have recently issued reports on NOW. Jefferies Financial Group cut their price objective on ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. BMO Capital Markets cut their target price on ServiceNow from $990.00 to $950.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Needham & Company LLC reduced their price target on shares of ServiceNow from $1,200.00 to $1,050.00 and set a "buy" rating on the stock in a research report on Thursday. William Blair restated an "outperform" rating on shares of ServiceNow in a report on Friday, March 7th. Finally, StockNews.com lowered shares of ServiceNow from a "buy" rating to a "hold" rating in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,032.94.

Insider Buying and Selling

In other ServiceNow news, CFO Gina Mastantuono sold 4,442 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $964.70, for a total value of $4,285,197.40. Following the sale, the chief financial officer now owns 11,126 shares in the company, valued at approximately $10,733,252.20. This represents a 28.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William R. Mcdermott sold 1,263 shares of ServiceNow stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the transaction, the chief executive officer now owns 2,595 shares of the company's stock, valued at $2,644,564.50. The trade was a 32.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,250 shares of company stock valued at $19,853,273 over the last ninety days. Company insiders own 0.38% of the company's stock.

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.