ServiceNow (NOW) : Traders are getting increasingly bearish on ServiceNow (NOW), as can be seen in the addition of short positions from 9,486,661 on Jul 29, 2016, to 9,814,139 on August 15, 2016. The net change in shorts is 327,478 shares, an increase of 3.5%. 8 days remain before the expiry. The 6.3% of outstanding short positions on the stock compared to its float, shows that traders expect the stock to fall from the current levels. The daily volume of the stock is 1,252,083. The short interest information was released on Wednesday Aug 24th after the market close.
ServiceNow (NYSE:NOW): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $72.44 and $72.44 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $73.46. The buying momentum continued till the end and the stock did not give up its gains. It closed at $72.77, notching a gain of 0.21% for the day. The total traded volume was 1,017,523 . The stock had closed at $72.62 on the previous day.
In a related news, The Securities and Exchange Commission has divulged that Schneider David, officer (Chief Revenue Officer) of Servicenow, Inc., had unloaded 2,803 shares at an average price of $75.53 in a transaction dated on August 12, 2016. The total value of the transaction was worth $211,711.
ServiceNow, Inc. is a provider of cloud-based solutions that define, structure, manage and automate services across the global enterprise. The Company provides cloud-based service management solutions that address the needs of a range of departments within an organization, including IT, human resources (HR), facilities, field service, marketing, legal and finance. It also provides business management and IT operations management solutions that facilitate the delivery of services across the enterprise. The Company markets its services to enterprises in a variety of industries, including financial services, consumer products, IT services, health care and technology. The Company offers a portfolio of services, including Professional Services, Education Services and Customer Support. The Company provides its services from data centers located in Australia, Brazil, Canada, Hong Kong, the Netherlands, Singapore, Switzerland, the United Kingdom and the United States.