Calamos Advisors LLC Purchases 14,877 Shares of ServiceNow, Inc. (NYSE:NOW)

Calamos Advisors LLC boosted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 15.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 113,970 shares of the information technology services provider's stock after acquiring an additional 14,877 shares during the period. Calamos Advisors LLC owned 0.06% of ServiceNow worth $90,736,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cohen Investment Advisors LLC raised its stake in ServiceNow by 3.4% in the 1st quarter. Cohen Investment Advisors LLC now owns 4,531 shares of the information technology services provider's stock valued at $3,607,000 after acquiring an additional 150 shares during the period. Conning Inc. grew its holdings in ServiceNow by 1.0% during the 1st quarter. Conning Inc. now owns 1,252 shares of the information technology services provider's stock valued at $997,000 after buying an additional 13 shares in the last quarter. Aurora Private Wealth Inc. purchased a new position in ServiceNow during the 1st quarter valued at about $8,258,000. Onyx Bridge Wealth Group LLC grew its holdings in ServiceNow by 7.9% during the 1st quarter. Onyx Bridge Wealth Group LLC now owns 504 shares of the information technology services provider's stock valued at $401,000 after buying an additional 37 shares in the last quarter. Finally, Palisade Capital Management LP purchased a new position in ServiceNow during the 1st quarter valued at about $517,000. 87.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on NOW shares. Scotiabank set a $1,100.00 target price on ServiceNow and gave the company an "outperform" rating in a report on Wednesday, May 7th. TD Securities reaffirmed a "buy" rating and set a $1,100.00 target price on shares of ServiceNow in a report on Thursday, April 24th. William Blair reaffirmed an "outperform" rating on shares of ServiceNow in a report on Friday, March 7th. Barclays set a $1,085.00 target price on ServiceNow in a report on Wednesday, May 7th. Finally, Evercore ISI lifted their target price on ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, ServiceNow presently has an average rating of "Moderate Buy" and a consensus price target of $1,068.23.

ServiceNow Trading Up 3.6%

NOW stock traded up $36.27 during midday trading on Friday, hitting $1,046.03. The company had a trading volume of 1,205,886 shares, compared to its average volume of 1,486,285. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The stock's 50 day moving average price is $1,001.94 and its 200 day moving average price is $964.12. The stock has a market cap of $216.51 billion, a price-to-earnings ratio of 142.12, a PEG ratio of 4.80 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the previous year, the company posted $3.41 earnings per share. The business's revenue was up 18.6% on a year-over-year basis. As a group, equities research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 62 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total transaction of $63,426.00. Following the transaction, the general counsel directly owned 4,332 shares of the company's stock, valued at approximately $4,431,636. The trade was a 1.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 2,050 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the completion of the transaction, the chief executive officer owned 6,614 shares of the company's stock, valued at $6,693,434.14. This trade represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,716 shares of company stock valued at $6,611,245. Insiders own 0.38% of the company's stock.

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.