Calamos Wealth Management LLC Has $12.59 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Calamos Wealth Management LLC grew its position in shares of ServiceNow, Inc. (NYSE:NOW) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,871 shares of the information technology services provider’s stock after acquiring an additional 85 shares during the quarter. Calamos Wealth Management LLC’s holdings in ServiceNow were worth $12,585,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of NOW. Truvestments Capital LLC purchased a new position in ServiceNow in the 3rd quarter valued at approximately $30,000. DT Investment Partners LLC increased its position in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in ServiceNow in the 4th quarter worth approximately $37,000. Oakworth Capital Inc. grew its position in ServiceNow by 46.7% in the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 14 shares in the last quarter. Finally, Dunhill Financial LLC raised its position in ServiceNow by 70.0% during the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after purchasing an additional 21 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Trading Up 0.4 %

ServiceNow stock opened at $1,021.99 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a market cap of $210.53 billion, a P/E ratio of 149.63, a P/E/G ratio of 4.74 and a beta of 0.99. The business has a 50-day simple moving average of $1,083.66 and a two-hundred day simple moving average of $957.36. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results 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%. Analysts predict that ServiceNow, Inc. will post 8.94 EPS for the current year.

ServiceNow declared that its Board of Directors has approved a stock repurchase plan on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Guggenheim reaffirmed a “sell” rating and issued a $716.00 target price on shares of ServiceNow in a research note on Wednesday, January 22nd. Wells Fargo & Company upped their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Stifel Nicolaus boosted their price target on shares of ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Piper Sandler raised their price objective on ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Needham & Company LLC boosted their target price on ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.93.

Insider Activity at ServiceNow

In related news, insider Nicholas Tzitzon sold 313 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $333,219.80. Following the completion of the transaction, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,884,725.40. This trade represents a 7.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,731 shares of company stock valued at $21,016,751. Corporate insiders own 0.25% of the company’s stock.

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.