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The Potential Rise in the Price of ServiceNow Inc (NOW) following insiders activity

ServiceNow Inc’s filing revealed that its Chief Digital Information Ofc Bedi Christopher unloaded Company’s shares for reported $0.15 million on Jun 05 ’24. In the deal valued at $700.00 per share,215 shares were sold. As a result of this transaction, Bedi Christopher now holds 15,892 shares worth roughly $12.18 million.

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Then, McBride Kevin Thomas sold 100 shares, generating $65,980 in total proceeds. Upon selling the shares at $659.80, the Principal Accounting Officer now owns 2,804 shares.

Before that, Tzitzon Nicholas sold 2,000 shares. ServiceNow Inc shares valued at $1,381,980 were divested by the Chief Strat & Corp Affairs Ofc at a price of $690.99 per share. As a result of the transaction, Tzitzon Nicholas now holds 3,649 shares, worth roughly $2.8 million.

Guggenheim downgraded its ServiceNow Inc [NOW] rating to a Sell from a a Neutral in a research note published recently. A number of analysts have revised their coverage, including BMO Capital Markets’s analysts, who remained covering the stock and in late April has reiterated a ‘”an Outperform”‘ rating for it. Guggenheim also remained covering NOW and has decreased its forecast on April 15, 2024 with a “Neutral” recommendation from previously “Buy” rating. KeyBanc Capital Markets started covering the stock on March 21, 2024. It rated NOW as “an Overweight”.

Price Performance Review of NOW

On Monday, ServiceNow Inc [NYSE:NOW] saw its stock fall -4.99% to $766.20. Over the last five days, the stock has lost -2.60%. ServiceNow Inc shares have risen nearly 8.45% since the year began. Nevertheless, the stocks have risen 37.85% over the past one year. While a 52-week high of $815.32 was reached on 02/09/24, a 52-week low of $527.24 was recorded on 05/31/24. SMA at 50 days reached $731.79, while 200 days put it at $702.57. A total of 2.02 million shares were traded, compared to the trading of 0.58 million shares in the previous session.

Levels Of Support And Resistance For NOW Stock

The 24-hour chart illustrates a support level at 759.54, which if violated will result in even more drops to 752.89. On the upside, there is a resistance level at 774.75. A further resistance level may holdings at 783.31. The Relative Strength Index (RSI) on the 14-day chart is 54.39, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 22.62, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 46.09%. Stochastics%K at 80.76% indicates the stock is a selling.

The most recent change occurred on January 22, 2024 when Needham resumed its ‘”a Buy”‘ rating for the stock and retained the price target to $900.

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