ServiceNow, Inc. $NOW Shares Bought by Calamos Wealth Management LLC

Key Points

• Calamos Wealth Management LLC increased its holdings in ServiceNow, Inc. by 16.1% in the 2nd quarter, owning a total of 13,918 shares valued at approximately $14.31 million.
• Director Anita M. Sands and Vice Chairman Nicholas Tzitzon both sold shares, decreasing their holdings by 10.54% and 36.43% respectively, over the last quarter.
• ServiceNow reported a 22.4% increase in revenue year-over-year for the last quarter, with earnings per share of $4.09, exceeding analyst expectations of $3.57.

Calamos Wealth Management LLC grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 16.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,918 shares of the information technology services provider's stock after acquiring an additional 1,934 shares during the period. Calamos Wealth Management LLC's holdings in ServiceNow were worth $14,309,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NOW. Brighton Jones LLC grew its stake in ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock worth $2,919,000 after purchasing an additional 30 shares in the last quarter. GAMMA Investing LLC grew its stake in ServiceNow by 10.0% in the first quarter. GAMMA Investing LLC now owns 3,378 shares of the information technology services provider's stock worth $2,689,000 after purchasing an additional 308 shares in the last quarter. Segment Wealth Management LLC grew its stake in ServiceNow by 29.9% in the first quarter. Segment Wealth Management LLC now owns 921 shares of the information technology services provider's stock worth $733,000 after purchasing an additional 212 shares in the last quarter. Covea Finance grew its stake in ServiceNow by 8.5% in the first quarter. Covea Finance now owns 39,665 shares of the information technology services provider's stock worth $31,579,000 after purchasing an additional 3,100 shares in the last quarter. Finally, Rockline Wealth Management LLC boosted its stake in ServiceNow by 7.5% in the first quarter. Rockline Wealth Management LLC now owns 1,548 shares of the information technology services provider's stock valued at $1,232,000 after acquiring an additional 108 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In related news, Director Anita M. Sands sold 1,097 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $915.11, for a total value of $1,003,875.67. Following the sale, the director directly owned 9,307 shares in the company, valued at $8,516,928.77. This trade represents a 10.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,489,427.55. Following the sale, the insider directly owned 3,000 shares in the company, valued at approximately $2,599,350. The trade was a 36.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,737 shares of company stock worth $16,798,825 over the last quarter. Insiders own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of research reports. Barclays set a $1,210.00 target price on ServiceNow in a research note on Thursday, July 24th. JMP Securities restated a "market outperform" rating and issued a $1,300.00 target price on shares of ServiceNow in a research note on Monday, August 4th. Wells Fargo & Company lifted their target price on ServiceNow from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. BMO Capital Markets lifted their target price on ServiceNow from $1,150.00 to $1,160.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Finally, Raymond James Financial lifted their target price on ServiceNow from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,121.37.

ServiceNow Stock Up 1.1%

NOW opened at $904.57 on Friday. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market cap of $188.15 billion, a P/E ratio of 113.93, a P/E/G ratio of 4.07 and a beta of 0.92. The stock's 50 day moving average price is $910.30 and its 200 day moving average price is $935.59.

ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating the consensus estimate of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The firm had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.12 billion. During the same period last year, the firm earned $3.13 EPS. The firm's revenue was up 22.4% compared to the same quarter last year. As a group, 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.

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