ServiceNow, Inc. $NOW Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC lowered its position in ServiceNow, Inc. (NYSE:NOW) by 35.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 304,355 shares of the information technology services provider’s stock after selling 166,162 shares during the quarter. Calamos Advisors LLC’s holdings in ServiceNow were worth $31,820,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after acquiring an additional 30 shares during the period. Sivia Capital Partners LLC increased its stake in ServiceNow by 4.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock valued at $861,000 after purchasing an additional 34 shares in the last quarter. United Bank raised its stake in shares of ServiceNow by 15.5% during the 2nd quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock worth $1,562,000 after buying an additional 204 shares during the last quarter. Riggs Asset Managment Co. Inc. increased its position in ServiceNow by 2.2% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider’s stock worth $1,976,000 after purchasing an additional 42 shares in the last quarter. Finally, Nebula Research & Development LLC raised its position in shares of ServiceNow by 205.1% in the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider’s stock valued at $931,000 after buying an additional 609 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $111.32 on Tuesday. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $210.20. The firm has a market cap of $114.77 billion, a price-to-earnings ratio of 66.34, a P/E/G ratio of 1.79 and a beta of 0.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The business’s 50-day simple moving average is $102.95 and its 200-day simple moving average is $110.65.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.97. The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. ServiceNow’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.81 earnings per share. As a group, equities research analysts expect that ServiceNow, Inc. will post 2.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on NOW shares. Oppenheimer reaffirmed an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 26th. Jefferies Financial Group reaffirmed a “buy” rating and set a $135.00 target price (down from $175.00) on shares of ServiceNow in a report on Thursday, April 23rd. Guggenheim upgraded ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 target price on the stock in a research note on Wednesday, July 1st. Benchmark boosted their price target on shares of ServiceNow from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Finally, Mizuho decreased their target price on ServiceNow from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $141.47.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the sale, the director owned 44,930 shares in the company, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of the firm’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the transaction, the insider directly owned 29,531 shares of the company’s stock, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 28,071 shares of company stock worth $2,529,956. Insiders own 0.34% of the company’s stock.

About ServiceNow

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.