DE Burlo Group Inc. Sells 800 Shares of ServiceNow, Inc. (NYSE:NOW)

DE Burlo Group Inc. trimmed its position in ServiceNow, Inc. (NYSE:NOW) by 11.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,900 shares of the information technology services provider’s stock after selling 800 shares during the quarter. DE Burlo Group Inc.’s holdings in ServiceNow were worth $4,697,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in NOW. Edgemoor Investment Advisors Inc. boosted its position in shares of ServiceNow by 2.5% during the 1st quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $366,000 after acquiring an additional 11 shares during the last quarter. Capital Investment Advisory Services LLC raised its stake in ServiceNow by 2.1% during the first quarter. Capital Investment Advisory Services LLC now owns 577 shares of the information technology services provider’s stock worth $459,000 after purchasing an additional 12 shares during the period. Kesler Norman & Wride LLC raised its stake in ServiceNow by 1.2% during the fourth quarter. Kesler Norman & Wride LLC now owns 1,092 shares of the information technology services provider’s stock worth $1,157,000 after purchasing an additional 13 shares during the period. Sepio Capital LP boosted its holdings in 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 purchasing an additional 13 shares during the last quarter. Finally, Mission Creek Capital Partners Inc. grew its stake in shares of 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 buying an additional 13 shares during the period. 87.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of recent analyst reports. Bank of America upped their target price on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday. Wall Street Zen lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Monday, July 21st. Mizuho lifted their target price on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the company an “outperform” rating in a report on Thursday, June 12th. BMO Capital Markets boosted their target price on ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Truist Financial upgraded ServiceNow from a “hold” rating to a “buy” rating and raised their price target for the stock from $950.00 to $1,200.00 in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $1,114.87.

Insider Activity

In related news, Director Anita M. Sands sold 239 shares of the firm’s stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $1,050.00, for a total value of $250,950.00. Following the sale, the director directly owned 10,404 shares of the company’s stock, valued at approximately $10,924,200. This trade represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Russell S. Elmer sold 62 shares of ServiceNow stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total value of $63,426.00. Following the completion of the transaction, the general counsel owned 4,332 shares in the company, valued at $4,431,636. The trade was a 1.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,003 shares of company stock valued at $6,015,106 in the last 90 days. Insiders own 0.38% of the company’s stock.

ServiceNow Stock Down 2.8%

Shares of NYSE:NOW opened at $968.05 on Friday. The company has a market cap of $200.37 billion, a price-to-earnings ratio of 121.92, a PEG ratio of 4.56 and a beta of 0.94. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The firm’s 50-day simple moving average is $1,000.33 and its 200-day simple moving average is $953.18. The company has a quick ratio of 1.12, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 18.04% and a net margin of 13.78%. The company’s revenue was up 22.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.13 EPS. As a group, equities research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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.