A recent filing by ServiceNow Inc. revealed. whose Director LUDDY FREDERIC B issued Company shares for a reported $2.54 million on Oct 10. In a deal valued at $385.46 per share, 6,600 shares were sold. As a result of this transaction, LUDDY FREDERIC B now holds 31,800 shares worth approximately $11.09 million.
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ELMER RUSSELL S then sold 2,666 shares, amounting to $1,127,185 in total proceeds. Selling the shares at $422.80, the General Counsel now owns 6,627 shares.
Before that, LUDDY FREDERIC B sold 6,600 shares. Shares of ServiceNow Inc. amounting to $2,797,732 was disposed of by the Director at a price of $423.90 per share. As a result of the transaction, LUDDY FREDERIC B now holds 32,400 shares, which are worth approximately $11.29 million.
JP Morgan upgrades ServiceNow Inc. [NOW] rating to an Overweight from aa Neutral in a research note published on Monday. PT values the company’s stock at a premium of 24.22 to its Monday closing price. A number of analysts have revised their coverage, including analysts at MoffettNathanson, who began covering the stock in late September with a ‘”a Hold”‘ rating. Guggenheim began coverage of NOW with a “Neutral” recommendation on August 12, 2022. Bernstein began coverage of the stock on July 20, 2022. It rates NOW as “an Outperform”.
NOW’s Price Performance Analysis
On Monday, ServiceNow Inc. [NYSE:NOW] saw its stock jump 2.00% to $348.61. During the same session, the stock had an intraday low of $347.51, but rose to a high of $358.88. Over the past five days, the stock has lost -8.69%. Shares of ServiceNow Inc. has fallen by almost -46.29% since the year began. However, stocks have fallen -47.43% over the past one year. While the 52-week high of $707.60 was reached on 01/03/22, the 52-week low of $337.00 was recorded on 10/13/22. The 50 day SMA touched $431.68, while the 200 day placed it at $489.85. A total of 2.57 million shares were traded, compared to trading of 2.74 million shares in the previous session.
Support And Resistance Levels In NOW Stock
The 24-hour chart depicts a support level at 344.45, which if breached would result in a further decline to 340.30. On the upside, there is a resistance level at 355.82. An additional level of resistance could hold at 363.04. The Relative Strength Index (RSI) on the 14-day chart is 32.50, indicating a neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) is at -32.81, suggesting that the price will decline in the next period of trade. The R percentage indicates that the price movement has been bearish at 87.96%. Stochastics %K at 14.27% indicates that the stock is a buy.
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 15,723,059 shares, or approximately 7.78% of the outstanding NOW shares. In other words, investor shares increased by 235,927 from its previous 13-F filing of 15487132.0. In addition, T. Rowe Price Associates, Inc. decreased -1.40% of its stake after which the total value it holds stands at $5,293,290,912, while BlackRock Fund Advisors added 1.01% of its stake to hold $3.61 billion in the firm. In the last quarter, SSgA Funds Management, Inc. sold -78,723 shares of ServiceNow Inc., while Capital Research & Management Co sold 222,292 shares. Currently, Morgan Stanley Investment Managem holds 4,667,228 shares worth $1.76 billion. Edgewood Management LLC owned 4,122,588 shares of the company’s stock as of its most recent 13F filing, worth $1.56 billion.
According to FactSet, the share price of ServiceNow Inc. will average $545.53 next year, based on the opinions of analysts polled by the firm. This is up nearly 57.27 percent from the previous closing price of $341.76. Analysts expect ServiceNow Inc. stock to reach The highest price is $700.00, while the lowest price estimate is $460.00. However, 36 analysts rated NOW stock as Buy in their predictions for 2022. The most recent change occurred on May 18, 2022 when Wells Fargo started covering the stock and recommended a rating of ‘”an Overweight “‘ along with a $600 price target.