Traders Buy Large Volume of ServiceNow Call Options (NYSE:NOW)

ServiceNow, Inc. (NYSE:NOW - Get Free Report) saw unusually large options trading on Thursday. Stock investors bought 14,918 call options on the company. This is an increase of approximately 53% compared to the average daily volume of 9,765 call options.

Insider Activity at ServiceNow

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of ServiceNow stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the completion of the sale, the insider owned 3,000 shares of the company's stock, valued at approximately $3,060,000. The trade was a 28.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 145 shares of ServiceNow stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total value of $147,900.00. Following the sale, the insider directly owned 3,027 shares of the company's stock, valued at approximately $3,087,540. This represents a 4.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,716 shares of company stock worth $6,611,245 in the last quarter. 0.38% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Sage Capital Advisors llc acquired a new stake in shares of ServiceNow in the second quarter valued at $4,314,000. HBW Advisory Services LLC acquired a new stake in shares of ServiceNow in the second quarter valued at $2,151,000. Central Pacific Bank Trust Division raised its stake in shares of ServiceNow by 3.8% in the second quarter. Central Pacific Bank Trust Division now owns 4,949 shares of the information technology services provider's stock valued at $5,088,000 after acquiring an additional 183 shares in the last quarter. Kera Capital Partners Inc. raised its stake in shares of ServiceNow by 158.0% in the second quarter. Kera Capital Partners Inc. now owns 952 shares of the information technology services provider's stock valued at $979,000 after acquiring an additional 583 shares in the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs acquired a new stake in shares of ServiceNow in the first quarter valued at $6,066,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Trading Up 3.6%

NYSE:NOW traded up $36.27 during trading hours on Thursday, reaching $1,046.03. 1,205,886 shares of the stock were exchanged, compared to its average volume of 1,486,285. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average of $999.82 and a two-hundred day moving average of $964.70. ServiceNow has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a market capitalization of $216.51 billion, a price-to-earnings ratio of 142.12, a PEG ratio of 4.64 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The company had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same period in the prior year, the firm earned $3.41 earnings per share. The firm's revenue was up 18.6% compared to the same quarter last year. On average, equities analysts predict that ServiceNow will post 8.93 EPS for the current year.

Analyst Upgrades and Downgrades

NOW has been the subject of several analyst reports. William Blair reissued an "outperform" rating on shares of ServiceNow in a report on Friday, March 7th. Truist Financial raised ServiceNow from a "hold" rating to a "buy" rating and boosted their price objective for the company from $950.00 to $1,200.00 in a report on Thursday, May 1st. Wall Street Zen raised ServiceNow from a "hold" rating to a "buy" rating in a report on Friday, June 27th. TD Securities reissued a "buy" rating and issued a $1,100.00 price objective on shares of ServiceNow in a report on Thursday, April 24th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of ServiceNow in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,068.23.

About ServiceNow

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.