Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Shares of ServiceNow Inc. worth $1,871,423 was sold by Mastantuono Gina on August 29. At $439.10 per share, Mastantuono Gina sold 4,262 shares. The insider’s holdings decreased to 4,262 shares valued at approximately $1.85 million following the completion of this transaction.
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Also, ELMER RUSSELL S sold 758 shares, amassing a total of over 368,661 shares. Following the sale of the shares at $486.36 each, the insider now holds 9,293 shares.
Before that, Smith Paul John sold 411 shares from its account. In a trade worth $198,493, the Chief Commercial Officer exchanged ServiceNow Inc. of shares of $482.95 each. At the close of the transaction, the insider’s holdings decreased to 411 shares, worth approximately $1.07 million.
As published in their introductory research note from Guggenheim on August 12, 2022, ServiceNow Inc. [NOW] became Neutral and the price target was revised to $510. This represents a 14.78% premium to Wednesday’s closing price. Analysts at Bernstein began covering the stock with ‘”an Outperform”‘ outlook in a report released in mid-July. On May 18, 2022 Wells Fargo initiated its “Overweight” rating for NOW. Earlier on March 29, 2022, Exane BNP Paribas downgraded its rating. Their new recommendation is “an Underperform” for NOW stock which was previously “a Neutral”.
NOW’s Price Performance Analysis
On Wednesday, ServiceNow Inc. [NYSE: NOW] fell -0.51% to $434.62. The stock’s lowest price for the day was $433.84, but it reached a high of $446.00 during the same session. In the last five days, there has been a decrease of about -5.01%. Over the course of the year, shares of ServiceNow Inc. has decreased by approximately -33.04%. Shares of the company hit a 52-week high of $651.41 on 01/03/22 and a 52-week low of $406.47 on 05/12/22. The 50-day SMA was noted at $467.56, while the 200-day SMA touched $528.22. However, trading volume fell to 1.4 million shares from 0.86 million shares the previous day.
Support And Resistance Levels for ServiceNow Inc. (NOW)
According to the 24-hour chart, there is a support level at 430.31, which, if breached, will cause prices to drop to 425.99. In the upper region, resistance is at 442.47. The next price resistance is at 450.31. The RSI (Relative Strength Index) is 37.29 on the 14-day chart, showing neutral technical sentiment. The Moving Average Convergence Divergence (MACD) is at -32.62, suggesting that the price will decline in the coming days. The R percentage is at 93.72%, indicating a bearish price movement. Stochastics %K on buy indicates that the stock will hold.
ServiceNow Inc. is subject to short interest?
The Stocks of ServiceNow Inc. saw intense short interest on Jul 14, 2022 which decreased -0.31 million shares to 4.0 million. Data from Yahoo Finance shows that short interest as of June 14, 2022 is 4.31 million shares. The -7.75% decrease in short interest reflects a negative sentiment on the stock. Despite the fact that short shares comprise only 2.11 of the total float, the day-to-cover ratio (short ratio) decreased to 2.11.
Which company owns the most shares of ServiceNow Inc. (NOW)?
According to a filing by The Vanguard Group, Inc., the company currently owns 15,723,059 shares, which is about 7.84% of the total NOW shares outstanding. The investor’s shares appreciated by 235,927 from its previous 13-F filing of 15487132.0 shares. Upon completion of the sale transaction, the stake of T. Rowe Price Associates, Inc. is now worth $6,261,225,387. BlackRock Fund Advisors acquired 1.01% interest valued at $4.27 billion while SSgA Funds Management, Inc. sold -78,723 stakes. A total of 222,292 shares of ServiceNow Inc. Capital Research & Management Co sold during the quarter, and -229,399 were sold by Morgan Stanley Investment Managem. In its current portfolio, Edgewood Management LLC has 4,122,588 shares worth $1.84 billion.
In terms of ServiceNow Inc.’s share price expectations, FactSet research, analysts have set an average price target of $553.83 over the next 12 months, up nearly 25.9% from the previous closing price of $436.84. Analysts expect ServiceNow Inc stock to reach $752.00. by 2022, with a minimum price target of $495.00. Despite this, 33 analysts rank ServiceNow Inc stock. as Buy at the end of 2022. On January 27, 2022, Piper Sandler assigned a “Overweight” price target on the stock and upgraded the coverage with $650.