DE Burlo Group Inc. Invests $7.10 Million in ServiceNow, Inc. (NYSE:NOW)

DE Burlo Group Inc. bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,700 shares of the information technology services provider’s stock, valued at approximately $7,103,000.

Several other institutional investors also recently bought and sold shares of the company. Atala Financial Inc purchased a new position in shares of ServiceNow in the 4th quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA acquired a new position in ServiceNow during the 4th quarter valued at approximately $32,000. Noble Wealth Management PBC purchased a new position in shares of ServiceNow in the fourth quarter worth $34,000. FPC Investment Advisory Inc. lifted its stake in shares of ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after buying an additional 29 shares during the period. Finally, Heck Capital Advisors LLC purchased a new stake in shares of ServiceNow during the fourth quarter valued at $37,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Price Performance

Shares of NYSE NOW opened at $946.08 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $195.84 billion, a PE ratio of 138.52, a PEG ratio of 4.51 and a beta of 1.08. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The firm has a fifty day moving average of $838.68 and a 200 day moving average of $967.51.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. As a group, research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its board has approved a share buyback plan on Wednesday, January 29th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 354 shares of ServiceNow stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total transaction of $284,831.94. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at $2,435,554.47. The trade was a 10.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Gina Mastantuono sold 4,442 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the completion of the sale, the chief financial officer now owns 11,126 shares of the company’s stock, valued at $10,733,252.20. This trade represents a 28.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,250 shares of company stock worth $19,853,273. Corporate insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on NOW shares. Morgan Stanley lifted their price target on ServiceNow from $881.00 to $950.00 and gave the stock an “equal weight” rating in a research report on Thursday. JPMorgan Chase & Co. decreased their target price on ServiceNow from $1,200.00 to $970.00 and set an “overweight” rating for the company in a report on Tuesday. William Blair reiterated an “outperform” rating on shares of ServiceNow in a research report on Friday, March 7th. Stifel Nicolaus set a $975.00 price target on shares of ServiceNow and gave the stock a “buy” rating in a research report on Thursday. Finally, Redburn Atlantic assumed coverage on shares of ServiceNow in a report on Wednesday, February 19th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,032.94.

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.