ServiceNow, Inc. (NYSE:NOW) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC trimmed its stake in ServiceNow, Inc. (NYSE:NOW) by 10.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 98,255 shares of the information technology services provider’s stock after selling 12,011 shares during the quarter. Calamos Advisors LLC’s holdings in ServiceNow were worth $77,294,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Creekmur Asset Management LLC acquired a new position in shares of ServiceNow in the 1st quarter worth $25,000. Versant Capital Management Inc boosted its position in shares of ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after buying an additional 28 shares during the period. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of ServiceNow in the fourth quarter worth $29,000. EntryPoint Capital LLC boosted its position in shares of ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after buying an additional 39 shares during the period. Finally, Sachetta LLC acquired a new stake in shares of ServiceNow in the fourth quarter worth $35,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on NOW. JPMorgan Chase & Co. raised their target price on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. JMP Securities lifted their price objective on ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a research report on Thursday, July 25th. Royal Bank of Canada lifted their price objective on ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Guggenheim reissued a “sell” rating and set a $640.00 price objective on shares of ServiceNow in a research report on Monday, July 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $849.62.

ServiceNow Price Performance

Shares of NOW traded up $7.34 on Friday, hitting $828.27. The company’s stock had a trading volume of 702,052 shares, compared to its average volume of 1,303,029. The company has a market capitalization of $169.80 billion, a PE ratio of 88.59, a PEG ratio of 4.82 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $850.33. The company has a 50 day moving average price of $782.00 and a 200 day moving average price of $759.16.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping the consensus estimate of $2.85 by $0.28. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 EPS. On average, research analysts anticipate that ServiceNow, Inc. will post 6.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ServiceNow news, insider Nicholas Tzitzon sold 2,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the completion of the sale, the insider now owns 3,649 shares in the company, valued at approximately $2,521,422.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Nicholas Tzitzon sold 2,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total value of $1,381,980.00. Following the completion of the sale, the insider now owns 3,649 shares in the company, valued at approximately $2,521,422.51. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $738.88, for a total transaction of $1,329,984.00. Following the completion of the sale, the chief financial officer now owns 13,290 shares of the company’s stock, valued at approximately $9,819,715.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,072 shares of company stock valued at $6,930,684. 0.25% of the stock is currently owned by corporate insiders.

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.