ServiceNow, Inc. (NYSE:NOW) Stock Holdings Lifted by Calamos Wealth Management LLC

Calamos Wealth Management LLC increased its stake in ServiceNow, Inc. (NYSE:NOW) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 11,871 shares of the information technology services provider’s stock after buying an additional 85 shares during the period. Calamos Wealth Management LLC’s holdings in ServiceNow were worth $12,585,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NOW. World Investment Advisors LLC lifted its position in ServiceNow by 499,668.1% in the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after buying an additional 4,771,830 shares in the last quarter. International Assets Investment Management LLC grew its holdings in ServiceNow by 89,137.0% during the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after purchasing an additional 1,183,739 shares during the last quarter. Bank of Montreal Can raised its holdings in ServiceNow by 216.6% in the 3rd quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock worth $1,206,178,000 after acquiring an additional 935,848 shares during the period. Wellington Management Group LLP lifted its position in ServiceNow by 24.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after acquiring an additional 615,797 shares during the last quarter. Finally, FMR LLC boosted its stake in ServiceNow by 9.9% during the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock valued at $5,014,302,000 after purchasing an additional 502,845 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Up 0.4 %

NYSE:NOW opened at $1,021.99 on Tuesday. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market cap of $210.53 billion, a PE ratio of 149.63, a P/E/G ratio of 4.74 and a beta of 0.99. The firm’s 50 day simple moving average is $1,083.66 and its 200 day simple moving average is $957.36.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, research analysts anticipate that ServiceNow, Inc. will post 8.94 earnings per share for the current year.

ServiceNow declared that its board has initiated a stock buyback plan on Wednesday, January 29th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

NOW has been the subject of a number of recent research reports. Truist Financial upped their target price on ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Citigroup raised their target price on ServiceNow from $1,071.00 to $1,432.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Evercore ISI raised their price target on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Canaccord Genuity Group boosted their price objective on ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, StockNews.com cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,129.93.

Insider Buying and Selling

In related news, General Counsel Russell S. Elmer sold 1,867 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $1,023.97, for a total transaction of $1,911,751.99. Following the transaction, the general counsel now owns 6,843 shares of the company’s stock, valued at approximately $7,007,026.71. This trade represents a 21.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,731 shares of company stock worth $21,016,751 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Company 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.