NOW (ServiceNow Inc.) may reap benefits as insiders have been active recently



The filing by ServiceNow Inc. disclosed that its Director LUDDY FREDERIC B issued shares of the Company for a reported $3.07 million on August 03. In a deal valued at $465.86 per share, 6,600 shares were sold. As a result of this transaction, LUDDY FREDERIC B now holds 33,000 shares worth approximately $16.33 million.


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Chadwick Jonathan then sold 1,000 shares, generating $450,580 in total proceeds. By selling the shares at $450.58, the Director now owns 6,340 shares.

Before that, Canney Jacqueline P sold 999 shares. Shares of ServiceNow Inc. worth $451,243 was removed by the Chief People Officer at a price of $451.69 per share. As a result of the transaction, Canney Jacqueline P now holds 728 shares, which are worth approximately $0.36 million.

Bernstein started ServiceNow Inc. [NOW] rating to an Outperform in a research note published on Monday, July 20th, 2022; the price target is $646. PT values ​​the company’s stock at a premium of 23.38 to its Monday closing price. Several analysts have revised their coverage, including Wells Fargo’s analysts, who began covering the stock in mid-May with a rating of ‘”an Overweight”. Exane BNP Paribas also maintained coverage on NOW and downgraded its March 29, 2022 forecast with an “Underperform” recommendation from the previous “Neutral” rating. Piper Sandler updated its rating on January 27, 2022. It NOW rates it as “an Overweight” which was previously a “a Neutral”.

NOW’s Price Performance Analysis

On Monday, ServiceNow Inc. [NYSE:NOW] saw its stock jump 0.02% to $494.95. During the same session, the stock had an intraday low of $491.985, but rose to a high of $503.48. Over the past five days, the stock has gained 9.08%. Shares of ServiceNow Inc. has fallen by almost -23.75% since the year began. However, stocks have fallen -16.21% in the past one year. While the 52-week high of $707.60 was reached on 01/03/22, the 52-week low of $406.47 was recorded on 05/12/22. The 50 day SMA touched $466.74, while the 200 day placed it at $546.24. A total of 1.63 million shares were traded, compared to trading of 3.33 million shares in the previous session.

Support And Resistance Levels In NOW Stock

The 24-hour chart depicts a support level at 490.13, which if breached will result in more declines at 485.31. On the upside, there is a resistance level at 501.63. An additional level of resistance may hold at 508.30. The Relative Strength Index (RSI) on the 14-day chart is 61.05, indicating a neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 35.63, suggesting that the price will rise in the near term. of trade. The R percentage indicates that the price movement has been bullish at 9.95%. Stochastics %K at 92.34% indicates that the stock is a sell.

How much is the short interest in ServiceNow Inc.?

A strong increase in short interest was recorded in ServiceNow Inc stocks. on Jul 14, 2022, which decreased by -0.31 million shares to a total of 4.0 million shares. Yahoo Finance data shows that prior month short interest as of June 14, 2022 was 4.31 million shares. There was a decrease of -7.75%, indicating that there is a negative sentiment for the stock. Despite short shares comprising only 2.00% of the total stock float, the days-to-cover ratio (short ratio) fell to 2.11.

ServiceNow Inc. [NOW] – Who are the Largest Shareholders?

In filings from The Vanguard Group, Inc., it was revealed that the company now owns 15,487,132 shares, or approximately 7.73% of the outstanding NOW shares. In other words, investor shares increased by 321,135 from its previous 13-F filing of 15165997.0. Additionally, T. Rowe Price Associates, Inc. has increased its stake by 0.54% after which the total value it holds stands at $6,760,508,735, while BlackRock Fund Advisors added 0.60% of its stake to hold $4.5 billion in the firm. In the past quarter, SSgA Funds Management, Inc. sold -4,073 shares of ServiceNow Inc., while Morgan Stanley Investment Managem sold -407,469 shares. Currently, Capital Research & Management Co holds 4,629,166 shares worth $2.2 billion. Polen Capital Management LLC owned 3,219,600 shares of the company’s stock as of its most recent 13F filing, worth $1.53 billion.

According to FactSet, the share price of ServiceNow Inc. will average $562.28 next year, based on opinions of analysts polled by the firm. It is up nearly 11.14 percent from its previous closing price of $494.85. Analysts expect ServiceNow Inc. stock to reach The highest price is $752.00, while the lowest price estimate is $495.00. However, 33 analysts rated NOW stock as Buy in their predictions for 2022. The most recent change occurred on January 27, 2022 when Oppenheimer maintained its rating of ‘”an Outperform”’ for the stock and maintained the price target at $660.

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