72,731 ServiceNow, Inc. $NOW Shares Acquired by Calamos Advisors LLC

Calamos Advisors LLC increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 33.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 289,056 shares of the information technology services provider’s stock after buying an additional 72,731 shares during the period. Calamos Advisors LLC’s holdings in ServiceNow were worth $38,736,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in ServiceNow in the second quarter valued at $9,536,615,000. State Street Corp lifted its position in shares of ServiceNow by 2.0% during the 2nd quarter. State Street Corp now owns 49,038,218 shares of the information technology services provider’s stock worth $4,868,514,000 after buying an additional 979,726 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of ServiceNow by 16.6% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,638,071 shares of the information technology services provider’s stock valued at $1,651,828,000 after buying an additional 2,362,606 shares in the last quarter. Amundi boosted its holdings in shares of ServiceNow by 60.9% in the 1st quarter. Amundi now owns 11,479,098 shares of the information technology services provider’s stock valued at $1,200,140,000 after buying an additional 4,346,722 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of ServiceNow by 6.5% in the 1st quarter. Bank of New York Mellon Corp now owns 8,526,931 shares of the information technology services provider’s stock valued at $891,491,000 after buying an additional 518,263 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on NOW shares. KeyCorp reiterated an “underweight” rating and set a $110.00 price target (up from $85.00) on shares of ServiceNow in a research note on Thursday, October 29th. Evercore restated an “outperform” rating on shares of ServiceNow in a research note on Tuesday, October 13th. CLSA began coverage on ServiceNow in a report on Monday, July 20th. They set an “underperform” rating and a $72.00 price objective on the stock. Barclays set a $152.00 target price on ServiceNow and gave the stock an “overweight” rating in a research report on Thursday, October 29th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $266.00 target price on shares of ServiceNow in a report on Tuesday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $154.50.

ServiceNow Stock Performance

NOW stock traded down $0.45 on Friday, hitting $101.91. The company’s stock had a trading volume of 15,093,492 shares, compared to its average volume of 18,003,326. The firm has a 50 day moving average of $136.31 and a two-hundred day moving average of $114.81. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $175.00. The stock has a market cap of $105.78 billion, a price-to-earnings ratio of 73.32, a price-to-earnings-growth ratio of 2.03 and a beta of 1.00. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.42.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 28th. The information technology services provider reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.02). The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.09 billion. ServiceNow had a return on equity of 15.17% and a net margin of 9.36%. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.82 EPS. Equities analysts predict that ServiceNow, Inc. will post 2.12 EPS for the current fiscal year.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow is broadening its agentic-AI partnership with LTM, aiming to take AI workflows to more enterprise customers. The company also highlighted deployments and selections by customers including LTM, KORE and Keysight, supporting its case that businesses are adopting its AI platform. ServiceNow expands enterprise AI partnerships
• Positive Sentiment: ServiceNow raised its AI contract-value target to $1.7 billion, and its CFO described fears that AI will disrupt the company’s business as unfounded. These points may help reassure investors about AI’s potential as a growth driver. ServiceNow Q3 earnings call highlights
• Neutral Sentiment: The NBA extended its partnership with ServiceNow, adopting EmployeeWorks for employee self-service and workplace requests. The deal adds a customer use case, though its near-term financial impact was not specified. NBA and ServiceNow extend partnership
• Negative Sentiment: Investors are focused on the outlook: despite a third-quarter revenue beat, ServiceNow’s fourth-quarter current remaining performance obligations growth forecast of 18.5% disappointed the market and prompted concerns about slowing backlog growth. The stock has fallen sharply since the report. ServiceNow outlook and AI concerns
• Negative Sentiment: ServiceNow is undertaking another round of layoffs, while third-quarter severance costs rose to $87 million from $24 million a year earlier. Separate reports that the board approved $127 million in retention awards as the company cuts jobs may also draw scrutiny over costs and priorities. ServiceNow layoffs and severance costs
• Negative Sentiment: ETFs were net sellers of $29.5 million in ServiceNow shares on Wednesday, adding a modest near-term headwind. ETF selling of ServiceNow shares

Insider Transactions at ServiceNow

In other news, insider Paul Fipps sold 2,034 shares of the stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $147.87, for a total transaction of $300,767.58. Following the completion of the sale, the insider owned 18,305 shares in the company, valued at approximately $2,706,760.35. This represents a 10.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul Chamberlain sold 2,700 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $135.50, for a total value of $365,850.00. Following the transaction, the director directly owned 43,990 shares in the company, valued at approximately $5,960,645. This represents a 5.78% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 14,081 shares of company stock worth $1,937,904. Company insiders own 0.34% of the company’s stock.

ServiceNow Profile

ServiceNow, Inc provides cloud-based software that helps organizations manage digital workflows and automate business processes. Founded in 2004 by Fred Luddy, the company began with a focus on IT service management and has expanded its platform to support a range of enterprise operations.

Its products include tools for IT service and operations management, customer service, human resources, security, and application development. ServiceNow also offers artificial intelligence capabilities, including tools designed to help organizations automate tasks and find information across workflows.

ServiceNow serves businesses and public-sector organizations around the world.