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 $1,994,891 were sold by Smith Paul John on Feb 27 ’24. At $767.27 per share, Smith Paul John sold 2,600 shares. The insider’s holdings dropped to 2,853 shares worth approximately $2.17 million following the completion of this transaction.
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Also, Bedi Christopher sold 3,200 shares, netting a total of over 2,516,221 in proceeds. Following the sale of shares at $786.32 each, the insider now holds 15,463 shares.
Before that, McDermott William R had sold 30,489 shares from its account. In a trade valued at $22,766,707, the Chairman & CEO traded ServiceNow Inc shares for $746.72 each. Upon closing the transaction, the insider’s holdings decreased to 30,489 shares, worth approximately $0.0.
As published in their initiating research note from KeyBanc Capital Markets on March 21, 2024, ServiceNow Inc [NOW] has been an Overweight and the price target has been revised to $1000. Analysts at Needham resumed the stock at ‘”a Buy”‘ outlook in a report released in late January. As of September 15, 2023, HSBC Securities has initiated its “Buy” rating for NOW. Earlier on June 14, 2023, Needham initiated its rating. Their recommendation was “a Buy” for NOW stock.
Analyzing NOW Stock Performance
During the last five days, there has been a drop of approximately -1.12%. Over the course of the year, ServiceNow Inc shares have jumped approximately 7.43%. Shares of the company reached a 52-week high of $815.32 on 02/09/24 and a 52-week low of $671.22 on 01/04/24. A 50-day SMA is recorded $768.88, while a 200-day SMA reached $644.15. Nevertheless, trading volume fell to 1.4 million shares from 0.72 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 746.22, which, if violated, would cause prices to drop to 733.45. In the upper region, resistance lies at 779.05. The next price resistance is at 799.11. RSI (Relative Strength Index) is 47.43 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.30, which suggests the price will increase in the coming days. Percent R is at 67.95%, indicating low price movement. Stochastics %K at holding 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 Mar 15, 2024 dropping by 10000.0 shares to 3.24 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 3.25 million shares. A decline of -0.31% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.42 of the overall float, the days-to-cover ratio (short ratio) decline to 2.42.
