Rep. Dwight Evans Sells Off Shares of ServiceNow, Inc. (NYSE:NOW)

Representative Dwight Evans (D-Pennsylvania) recently sold shares of ServiceNow, Inc. NYSE: NOW. In a filing disclosed on April 17th, the Representative disclosed that they had sold between $1,001 and $15,000 in ServiceNow stock on April 3rd. The trade occurred in the Representative's "CETERA" account.

Representative Dwight Evans also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of Quanta Services NYSE: PWR on 4/3/2025.
• Sold $1,001 - $15,000 in shares of AbbVie NYSE: ABBV on 4/3/2025.
• Purchased $1,001 - $15,000 in shares of NVIDIA NASDAQ: NVDA on 4/3/2025.
• Purchased $1,001 - $15,000 in shares of Intel NASDAQ: INTC on 4/3/2025.
• Sold $1,001 - $15,000 in shares of NextEra Energy NYSE: NEE on 4/3/2025.
• Sold $1,001 - $15,000 in shares of American Tower NYSE: AMT on 4/3/2025.
• Purchased $1,001 - $15,000 in shares of Alphabet NASDAQ: GOOGL on 4/3/2025.
• Sold $1,001 - $15,000 in shares of ONEOK NYSE: OKE on 4/3/2025.
• Purchased $1,001 - $15,000 in shares of International Business Machines NYSE: IBM on 4/3/2025.
• Sold $1,001 - $15,000 in shares of Kinder Morgan NYSE: KMI on 4/3/2025.

ServiceNow Stock Down 3.1 %

NOW stock traded down $24.48 during trading on Friday, hitting $772.18. 1,802,088 shares of the stock traded hands, compared to its average volume of 1,480,170. The firm's 50 day moving average is $852.94 and its two-hundred day moving average is $970.14. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market cap of $159.84 billion, a price-to-earnings ratio of 113.06, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its Board of Directors has initiated a share buyback program on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

Institutional Trading of ServiceNow

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of ServiceNow by 87,501.3% during the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock worth $2,141,108,000 after purchasing an additional 2,686,291 shares in the last quarter. Norges Bank purchased a new stake in ServiceNow in the fourth quarter valued at about $2,603,360,000. Proficio Capital Partners LLC boosted its holdings in ServiceNow by 154,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock worth $667,000 after acquiring an additional 666,383 shares in the last quarter. Alphinity Investment Management Pty Ltd acquired a new position in shares of ServiceNow during the fourth quarter valued at about $682,468,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in ServiceNow by 6.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock valued at $8,434,235,000 after purchasing an additional 509,467 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NOW has been the subject of several analyst reports. Mizuho reduced their target price on shares of ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating for the company in a report on Tuesday, March 11th. Stifel Nicolaus reduced their target price on ServiceNow from $1,175.00 to $950.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. William Blair reaffirmed an "outperform" rating on shares of ServiceNow in a report on Friday, March 7th. Bank of America cut their target price on shares of ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. upped their price target on shares of ServiceNow from $950.00 to $1,250.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have assigned a buy rating to the stock. According to MarketBeat.com, ServiceNow presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,057.17.

Insider Activity

In other news, insider Jacqueline P. Canney sold 354 shares of ServiceNow stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the sale, the insider now directly owns 3,027 shares of the company's stock, valued at $2,435,554.47. The trade was a 10.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Gina Mastantuono sold 4,442 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $964.70, for a total value of $4,285,197.40. Following the completion of the transaction, the chief financial officer now directly owns 11,126 shares of the company's stock, valued at approximately $10,733,252.20. This represents a 28.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,250 shares of company stock worth $19,853,273 over the last three months. 0.38% of the stock is currently owned by corporate insiders.

About Representative Evans

Dwight Evans (Democratic Party) is a member of the U.S. House, representing Pennsylvania's 3rd Congressional District. He assumed office on January 3, 2019. His current term ends on January 3, 2027. Evans (Democratic Party) is running for re-election to the U.S. House to represent Pennsylvania's 3rd Congressional District. He declared candidacy for the 2026 election. Evans earned his A.A. from the Community College of Philadelphia in 1973 and his bachelor's degree from La Salle College in 1975. He then attended Graduate Work at Temple University from 1975 to 1976. His professional experience includes working as an employment counselor/job developer for the Urban League of Philadelphia and as a teacher in the Philadelphia Public School System.

About ServiceNow

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.