ServiceNow Inc [NYSE: NOW] Sees Decrease in Stock Value

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. ServiceNow Inc shares valued at $1,402,004 were sold by Smith Paul John on Jan 30. At $781.06 per share, Smith Paul John sold 1,795 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.

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Also, Canney Jacqueline P sold 837 shares, netting a total of over 650,020 in proceeds. Following the sale of shares at $776.61 each, the insider now holds 994 shares.

Before that, Chamberlain Paul Edward had sold 135 shares from its account. In a trade valued at $92,070, the Director traded ServiceNow Inc shares for $682.00 each. Upon closing the transaction, the insider’s holdings decreased to 135 shares, worth approximately $8.22 million.

As published in a research note from Needham on January 22, 2024, ServiceNow Inc [NOW] has been retained to a Buy and the price target has been revised to $900.

Analyzing NOW Stock Performance

During the last five days, there has been a surge of approximately 0.26%. Over the course of the year, ServiceNow Inc shares have jumped approximately 8.34%. Shares of the company reached a 52-week high of $789.91 on 01/30/24 and a 52-week low of $671.22 on 01/04/24. A 50-day SMA is recorded $707.53, while a 200-day SMA reached $588.81. Nevertheless, trading volume fell to 1.36 million shares from 1.33 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 755.99, which, if violated, would cause prices to drop to 746.58. In the upper region, resistance lies at 776.35. The next price resistance is at 787.30. RSI (Relative Strength Index) is 65.44 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 25.91, which suggests the price will increase in the coming days. Percent R is at 32.43%, indicating low price movement. Stochastics %K at selling indicates that the stock is to be held.

Is ServiceNow Inc subject to short interest?

Stocks of ServiceNow Inc saw a sharp steep in short interest on Jan 11, 2024 dropping by -0.45 million shares to 2.85 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2023 was 3.3 million shares. A decline of -15.79% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.75 of the overall float, the days-to-cover ratio (short ratio) decline to 2.75.

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