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Keeping an Eye on ServiceNow Inc (NOW) After Insider Trading Activity

ServiceNow Inc’s recently made public that its Chief People Officer Canney Jacqueline P unloaded Company’s shares for reported $0.33 million on Oct 16 ’24. In the deal valued at $924.96 per share,353 shares were sold. As a result of this transaction, Canney Jacqueline P now holds 3,027 shares worth roughly $2.86 million.

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Then, Canney Jacqueline P bought 353 shares, generating $326,511 in total proceeds.

Before that, Bedi Christopher bought 1,000 shares. ServiceNow Inc shares valued at $909,000 were divested by the Officer at a price of $909.00 per share.

Morgan Stanley downgraded its ServiceNow Inc [NOW] rating to an Equal-weight from a an Overweight in a research note published on October 21, 2024; the price target was increased to $960 from $900. A number of analysts have revised their coverage, including BMO Capital Markets’s analysts, who remained covering the stock and in early October has reiterated a ‘”an Outperform”‘ rating for it. UBS also remained covering NOW and reiterated its “Buy” recommendation on October 08, 2024. Guggenheim revised its rating on July 08, 2024. It rated NOW as “a Sell” which previously was an “a Neutral”.

Price Performance Review of NOW

On Monday, ServiceNow Inc [NYSE:NOW] saw its stock fall -0.62% to $945.00. Over the last five days, the stock has gained 2.90%. ServiceNow Inc shares have risen nearly 33.76% since the year began. Nevertheless, the stocks have risen 71.52% over the past one year. While a 52-week high of $979.78 was reached on 10/24/24, a 52-week low of $548.44 was recorded on 05/31/24. SMA at 50 days reached $887.31, while 200 days put it at $789.63.

Levels Of Support And Resistance For NOW Stock

The 24-hour chart illustrates a support level at 940.00, which if violated will result in even more drops to 935.00. On the upside, there is a resistance level at 955.00. A further resistance level may holdings at 965.00. The Relative Strength Index (RSI) on the 14-day chart is 59.90, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 18.76, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 43.47%. Stochastics %K at 63.79% indicates the stock is a holding.

How much short interest is there in ServiceNow Inc?

A steep rise in short interest was recorded in ServiceNow Inc stocks on 2024-10-15, growing by 96288.0 shares to a total of 3.53 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 3.44 million shares. There was a rise of 2.73%, which implies that there is a positive sentiment for the stock.

The most recent change occurred on April 25, 2024 when BMO Capital Markets resumed its ‘”an Outperform”‘ rating for the stock and retained the price target to $830.

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