Investors can speculate about a stock’s future by watching how its insiders buy and sell stocks. Shares of ServiceNow Inc. worth $3,074,679 was sold by LUDDY FREDERIC B on August 03. At $465.86 per share LUDDY FREDERIC B sold 6,600 shares. The insider’s holdings decreased to 33,000 shares valued at approximately $16.48 million following the completion of this transaction.
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Also, Chadwick Jonathan sold 1,000 shares, making a total of over 450,580 proceeds. Following the sale of the shares at $450.58 each, the insider now holds 6,340 shares.
Before that, Canney Jacqueline P sold 999 shares from its account. In a trade worth $451,243, the Chief People Officer exchanged ServiceNow Inc. shares for $451.69 each. At the close of the transaction, the insider’s holdings decreased to 999 shares, worth approximately $0.36 million.
As published in their introductory research note from Bernstein on July 20, 2022, ServiceNow Inc. [NOW] was Outperform and the price target was changed to $646. This represents a 22.69% premium to Thursday’s closing price. Analysts at Wells Fargo began covering the stock with an ‘”Overweight”‘ outlook in a report released in mid-May. As of March 29, 2022, Exane BNP Paribas downgraded its “Neutral” rating to a “Underperform” for NOW. Earlier on January 27, 2022, Piper Sandler upgraded its rating. Their new recommendation is “an Overweight” for NOW stock which was previously “a Neutral”.
NOW’s Price Performance Analysis
On Thursday, ServiceNow Inc. [NYSE: NOW] fell -3.24% to $499.45. The stock’s lowest price for the day was $497.42, but it reached a high of $521.575 during the same session. In the last five days, there has been a surge of around 1.31%. Over the course of the year, shares of ServiceNow Inc. is down about -23.06%. 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 $468.83, while the 200-day SMA touched $543.45. However, trading volume fell to 1.48 million shares from 0.98 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 490.72, which, if breached, will cause prices to drop to 481.99. In the upper region, resistance is at 514.88. The next price resistance is at 530.30. The RSI (Relative Strength Index) is 58.90 on the 14-day chart, showing neutral technical sentiment. The Moving Average Convergence Divergence (MACD) is at 32.45, suggesting that the price will rise in the coming days. The R percentage is at 21.32%, indicating a bullish price movement. Stochastics %K on sell indicates that the stock will hold.
ServiceNow Inc. is subject to short interest?
The Stocks of ServiceNow Inc. saw a sharp steep rise in 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. A -7.75% decrease in short interest reflects a negative sentiment towards 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 15,487,132 shares, which is about 7.73% of the total NOW shares outstanding. The investor’s shares appreciated by 321,135 from its previous 13-F filing of 15165997.0 shares. Upon completion of the purchase transaction, the stake of T. Rowe Price Associates, Inc. is now worth $6,760,508,735. BlackRock Fund Advisors acquired 0.60% interest valued at $4.5 billion while SSgA Funds Management, Inc. has sold -4,073 stakes. A total of -407,469 shares of ServiceNow Inc. were sold by Morgan Stanley Investment Managem during the quarter, and -1,496,528 were sold by Capital Research & Management Co. In its current portfolio, Polen Capital Management LLC holds 3,219,600 shares worth $1.53 billion.
In terms of ServiceNow Inc.’s share price expectations, FactSet research, analysts have set an average price target of $562.28 over the next 12 months, up nearly 6.55% from the previous closing price of $516.20. 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 a Buy at the end of 2022. On January 27, 2022, Oppenheimer assigned a “Outperform” price target on the stock and reiterated coverage with $660.