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 $1,127,185 was sold by ELMER RUSSELL S on Sep 19. At $422.80 per share ELMER RUSSELL S sold 2,666 shares. The insider’s holdings decreased to 6,627 shares valued at approximately $2.79 million following the completion of this transaction.
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Also, LUDDY FREDERIC B sold 6,600 shares, amounting to a total of over 2,797,732 shares. Following the sale of the shares at $423.90 each, the insider now holds 32,400 shares.
Before that, Mastantuono Gina had already sold 4,262 shares from her account. In a trade valued at $1,871,423, the Chief Financial Officer exchanged ServiceNow Inc. of shares of $439.10 each. At the close of the transaction, the insider’s holdings decreased to 4,262 shares, worth approximately $1.79 million.
As published in their introductory research note from MoffettNathanson on September 22, 2022, ServiceNow Inc. [NOW] is a Hold and the price target has been revised to $553. This represents a 23.95% premium to Wednesday’s closing price. Analysts at Guggenheim began covering the stock with ‘”a Neutral”‘ outlook in a report released in mid-August. As of July 20, 2022, Bernstein initiated its “outperform” rating for NOW. Earlier on May 18, 2022, Wells Fargo initiated its rating. Their recommendation is “an Overweight” for NOW stock.
NOW’s Price Performance Analysis
On Wednesday, ServiceNow Inc. [NYSE: NOW] up 2.19% to $420.58. The stock’s lowest price for the day was $402.01, but it reached a high of $425.75 during the same session. In the last five days, there has been a surge of around 8.16%. Over the course of the year, shares of ServiceNow Inc. has decreased by approximately -35.21%. Shares of the company hit a 52-week high of $651.41 on 01/03/22 and a 52-week low of $367.71 on 09/26/22. The 50-day SMA was noted at $445.78, while the 200-day SMA touched $500.66. However, trading volume fell to 1.77 million shares from 1.98 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 406.48, which, if breached, will cause prices to drop to 392.37. In the upper region, resistance is at 430.22. The next price resistance is at 439.85. The RSI (Relative Strength Index) is 51.16 on the 14-day chart, showing neutral technical sentiment. The Moving Average Convergence Divergence (MACD) is at 11.35, suggesting that the price will rise in the coming days. The R percentage is at 20.26%, indicating a bullish price movement. Stochastics %K on hold indicates that the stock will be held.
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 7.78% 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 $6,092,450,136. BlackRock Fund Advisors acquired 1.01% interest worth $4.16 billion while SSgA Funds Management, Inc. sold -78,723 stakes. In total, 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 $1.79 billion.
In terms of ServiceNow Inc.’s share price expectations, FactSet research, analysts have set an average price target of $556.58 over the next 12 months, up nearly 33.64% from the previous closing price of $411.55. Analysts expect ServiceNow Inc stock to reach $752.00. by 2022, with a minimum price target of $495.00. Despite this, 35 analysts rank ServiceNow Inc. stock. as a Buy at the end of 2022. On March 29, 2022, Exane BNP Paribas assigned a price target of “an Underperform” to the stock and lowered the range by $460.