Calamos Advisors LLC Trims Position in ServiceNow, Inc. $NOW

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

A number of other large investors have also added to or reduced their stakes in NOW. Florida Financial Advisors LLC increased its stake in ServiceNow by 5.4% in the 2nd quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock worth $280,000 after purchasing an additional 14 shares during the period. First Affirmative Financial Network grew its holdings in ServiceNow by 1.7% in the third quarter. First Affirmative Financial Network now owns 892 shares of the information technology services provider’s stock worth $821,000 after purchasing an additional 15 shares during the period. Opes Wealth Management LLC grew its stake in shares of ServiceNow by 3.5% in the 3rd quarter. Opes Wealth Management LLC now owns 507 shares of the information technology services provider’s stock worth $467,000 after buying an additional 17 shares during the last quarter. Clark Capital Management Group Inc. raised its holdings in ServiceNow by 3.6% in the 3rd quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider’s stock worth $473,000 after acquiring an additional 18 shares during the last quarter. Finally, American Trust lifted its holdings in shares of ServiceNow by 1.8% during the third quarter. American Trust now owns 1,029 shares of the information technology services provider’s stock valued at $947,000 after purchasing an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the sale, the insider directly owned 12,072 shares in the company, valued at $1,189,212.72. This represents a 7.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the sale, the director directly owned 44,930 shares of the company’s stock, valued at $3,919,243.90. This represents a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is currently owned by corporate insiders.

ServiceNow Stock Up 3.4%

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

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the prior year, the business posted $0.81 earnings per share. ServiceNow’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, sell-side analysts predict that ServiceNow, Inc. will post 2.34 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on NOW. Wolfe Research set a $125.00 price objective on shares of ServiceNow in a report on Thursday, April 23rd. Barclays reiterated an “overweight” rating and issued a $134.00 target price (up from $132.00) on shares of ServiceNow in a research report on Tuesday, May 5th. BMO Capital Markets cut their target price on ServiceNow from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $135.00 price target (down from $175.00) on shares of ServiceNow in a research note on Thursday, April 23rd. Finally, KeyCorp set a $85.00 target price on ServiceNow and gave the company an “underweight” rating in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.47.

ServiceNow Company Profile

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.