Could Servicenow Incorporated (NYSE:NOW) Skyrocket? The Stock Has Too Many Sellers

July 18, 2017 - By Linda Rogers

 Could Servicenow Incorporated (NYSE:NOW) Skyrocket? The Stock Has Too Many Sellers

Investors sentiment decreased to 0.94 in Q4 2016. Its down 0.23, from 1.17 in 2016Q3. It worsened, as 41 investors sold ServiceNow Inc shares while 113 reduced holdings. 53 funds opened positions while 92 raised stakes. 158.52 million shares or 2.18% less from 162.05 million shares in 2016Q3 were reported.
Waddell Reed Financial accumulated 1.58M shares. Axa, a France-based fund reported 201,600 shares. Invesco Ltd accumulated 1.67M shares. Wells Fargo And Mn owns 1.97 million shares. Pitcairn reported 8,304 shares or 0.08% of all its holdings. Zurcher Kantonalbank (Zurich Cantonalbank) reported 0.03% stake. Rhumbline Advisers holds 182,669 shares. Polar Capital Limited Liability Partnership, a United Kingdom-based fund reported 246,733 shares. Jennison Assoc Limited Liability invested 0.1% of its portfolio in ServiceNow Inc (NYSE:NOW). Moreover, National Bank Of New York Mellon has 0.03% invested in ServiceNow Inc (NYSE:NOW). Cornerstone Advisors Incorporated reported 610 shares. X Mgmt Ltd Liability accumulated 1,077 shares. Amalgamated State Bank holds 0.05% or 14,457 shares in its portfolio. Sumitomo Mitsui Tru stated it has 0.05% of its portfolio in ServiceNow Inc (NYSE:NOW). Moreover, Friess Assoc Llc has 1.02% invested in ServiceNow Inc (NYSE:NOW).

Since January 26, 2017, it had 1 insider buy, and 16 insider sales for $133.48 million activity. 2,107 ServiceNow Inc (NYSE:NOW) shares with value of $192,095 were sold by Sands Anita M. Schneider David sold $217,661 worth of ServiceNow Inc (NYSE:NOW) on Friday, May 12. Shares for $15.86 million were sold by Slootman Frank. LUDDY FREDERIC B had sold 102,000 shares worth $9.69 million on Wednesday, May 3. 11,236 ServiceNow Inc (NYSE:NOW) shares with value of $1.10M were bought by Donahoe John J. STRAUSS WILLIAM L had sold 25,000 shares worth $2.31 million.

The stock of Servicenow Incorporated (NYSE:NOW) registered an increase of 6.58% in short interest. NOW’s total short interest was 10.03 million shares in July as published by FINRA. Its up 6.58% from 9.41 million shares, reported previously. With 2.35 million shares average volume, it will take short sellers 4 days to cover their NOW’s short positions.

It closed at $110 lastly. It is down 42.37% since July 18, 2016 and is uptrending. It has outperformed by 25.67% the S&P500.

ServiceNow, Inc. is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The company has market cap of $18.62 billion. The Firm offers a set of cloud services that automate workflow within and between departments in an enterprise. It currently has negative earnings. It provides workflow solutions, and focuses on service management for customer support, human resources, security activities and other enterprise departments.

ServiceNow Inc (NYSE:NOW) Ratings Coverage

Among 31 analysts covering ServiceNow Inc (NYSE:NOW), 23 have Buy rating, 0 Sell and 8 Hold. Therefore 74% are positive. ServiceNow Inc had 53 analyst reports since July 21, 2015 according to SRatingsIntel. The stock of ServiceNow Inc (NYSE:NOW) has “Buy” rating given on Monday, June 5 by Barclays Capital. The stock of ServiceNow Inc (NYSE:NOW) has “Overweight” rating given on Friday, April 1 by Piper Jaffray. DA Davidson maintained it with “Buy” rating and $118 target in Friday, April 28 report. The firm earned “Buy” rating on Friday, January 22 by Mizuho. The firm has “Buy” rating given on Thursday, June 1 by Canaccord Genuity. The company was initiated on Tuesday, December 29 by CapitalOne. The stock of ServiceNow Inc (NYSE:NOW) earned “Neutral” rating by Piper Jaffray on Friday, December 2. M Partners maintained ServiceNow Inc (NYSE:NOW) on Monday, April 24 with “Neutral” rating. The stock has “Top Pick” rating by RBC Capital Markets on Thursday, April 27. The firm has “Buy” rating given on Thursday, January 26 by Mizuho.

More news for ServiceNow Inc (NYSE:NOW) were recently published by: Gurufocus.com, which released: “Mathes Company, Inc. Buys ServiceNow Inc, Mohawk Industries Inc, SPDR S&P …” on July 17, 2017. Benzinga.com‘s article titled: “Analyst: ServiceNow Shares Make The Perfect Children’s Gift” and published on June 28, 2017 is yet another important article.

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