ServiceNow Inc Unusual Bullish Options Activity Means Profits for Traders

 ServiceNow Inc Unusual Bullish Options Activity Means Profits for Traders

In today’s session ServiceNow Inc (NOW) registered an unusually high (988) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious NOW increase. With 988 contracts traded and 3714 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: NOW170120C00080000 closed last at: $4.4 or 29% down. About 117,089 shares traded hands. ServiceNow Inc (NYSE:NOW) has risen 19.01% since March 11, 2016 and is uptrending. It has outperformed by 13.55% the S&P500.

Analysts await ServiceNow Inc (NYSE:NOW) to report earnings on October, 19. They expect $-0.10 earnings per share, up 50.00% or $0.10 from last year’s $-0.2 per share. After $-0.25 actual earnings per share reported by ServiceNow Inc for the previous quarter, Wall Street now forecasts -60.00% EPS growth.

ServiceNow Inc (NYSE:NOW) Ratings Coverage

Out of 21 analysts covering ServiceNow Inc (NYSE:NOW), 16 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 76% are positive. $100 is the highest target while $65 is the lowest. The $83.47 average target is 9.63% above today’s ($76.14) stock price. ServiceNow Inc has been the topic of 31 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm earned “Outperform” rating on Thursday, April 21 by Robert W. Baird. RBC Capital Markets maintained it with “Top Pick” rating and $85 target price in Thursday, January 28 report. UBS maintained the shares of NOW in a report on Wednesday, December 2 with “Buy” rating. The firm has “Sector Weight” rating by KeyBanc Capital Markets given on Friday, December 18. On Tuesday, December 29 the stock rating was initiated by CapitalOne with “Equal Weight”. BTIG Research initiated the shares of NOW in a report on Thursday, September 10 with “Buy” rating. Macquarie Research initiated the stock with “Outperform” rating in Tuesday, April 26 report. The rating was initiated by Goldman Sachs on Friday, December 11 with “Neutral”. The rating was initiated by Cowen & Co with “Outperform” on Friday, June 24. The firm has “Neutral” rating by Mizuho given on Thursday, January 28.

According to Zacks Investment Research, “ServiceNow, Inc. provides cloud-based services that automate enterprise IT operations. The Company’s service includes a suite of applications built on its platform that automates workflow and integrates related business processes. It focuses on transforming enterprise IT by automating and standardizing business processes and consolidating IT across the global enterprise. ServiceNow, Inc. is based in San Diego, California.”

Insitutional Activity: The institutional sentiment increased to 1.14 in 2016 Q2. Its up 0.24, from 0.9 in 2016Q1. The ratio is positive, as 41 funds sold all ServiceNow Inc shares owned while 101 reduced positions. 50 funds bought stakes while 112 increased positions. They now own 156.31 million shares or 2.61% less from 160.50 million shares in 2016Q1.
Qs Limited Liability Corp reported 5 shares or 0% of all its holdings. Raymond James Assoc owns 23,751 shares or 0% of their US portfolio. Crestwood Capital Mngmt L P accumulated 249,750 shares or 4.16% of the stock. Moreover, Quantbot Techs Ltd Partnership has 0.52% invested in ServiceNow Inc (NYSE:NOW) for 73,876 shares. Moreover, Arrowstreet Cap Partnership has 0.04% invested in ServiceNow Inc (NYSE:NOW) for 160,485 shares. The New York-based Bamco Incorporated Ny has invested 0.04% in ServiceNow Inc (NYSE:NOW). Teachers Retirement Of The State Of Kentucky holds 0.07% or 84,769 shares in its portfolio. Cornerstone Advsr has 0% invested in the company for 45 shares. Verition Fund Management has 0.12% invested in the company for 14,475 shares. Fred Alger accumulated 1.67 million shares or 0.59% of the stock. Kbc Group Nv accumulated 0.24% or 250,070 shares. Oregon Employees Retirement Fund accumulated 100 shares or 0% of the stock. Gilder Gagnon Howe And Co Llc reported 35,377 shares or 0.05% of all its holdings. Aqr Cap Management Ltd Co owns 38,044 shares or 0% of their US portfolio. Putnam Invests Ltd Co has 0.09% invested in the company for 555,724 shares.

Insider Transactions: Since April 20, 2016, the stock had 0 buys, and 24 insider sales for $92.07 million net activity. $772,000 worth of ServiceNow Inc (NYSE:NOW) shares were sold by STRAUSS WILLIAM L. Schneider David sold $749,158 worth of stock or 11,047 shares. 18,829 shares with value of $1.41M were sold by McGee Daniel on Thursday, April 21. LUDDY FREDERIC B also sold $10.68M worth of ServiceNow Inc (NYSE:NOW) shares. On Tuesday, August 9 Slootman Frank sold $11.25M worth of the stock or 150,000 shares.

ServiceNow, Inc. is a provider of cloud solutions that define, structure, manage and automate services across the global enterprise. The company has a market cap of $12.55 billion. The Firm provides cloud service management and business management solutions that address the needs of various departments within an enterprise, including information technology , human resources (HR), facilities, field service, marketing, customer service, security, legal and finance. It currently has negative earnings. The Company’s service management solutions are built on the Company’s platform that also allows clients to create, by themselves or with its partners, their own service-oriented applications for use in departments across the enterprise.

NOW Company Profile

ServiceNow, Inc., incorporated on February 16, 2012, is a well-known provider of cloud solutions that define, structure, manage and automate services across the global enterprise. The Firm provides cloud service management and business management solutions that address the needs of various departments within an enterprise, including information technology (IT), human resources (HR), facilities, field service, marketing, customer service, security, legal and finance. The Company’s service management solutions are built on the Company’s platform that also allows clients to create, by themselves or with its partners, their own service-oriented applications for use in departments across the enterprise. The Firm markets its services to enterprises in a range of industries, including financial services, consumer products, IT services, healthcare and technology. It sells solutions primarily through direct sales and through indirect channel sales. The Firm also provides a portfolio of professional services to customers. It also provides a suite of IT activities management (ITOM) solutions that manages visibility of business services and infrastructure with a single system of record. It delivers software applications through the Internet as a service. The Firm has approximately eight paired data centers on over five continents. The Firm provides its services from data centers located in Australia, Brazil, Canada, Hong Kong, the Netherlands, Singapore, Switzerland, the United Kingdom and the United States.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment