Rep. Jefferson Shreve Sells ServiceNow, Inc. (NYSE:NOW) Stock

Representative Jefferson Shreve (R-Indiana) recently sold shares of ServiceNow, Inc. NYSE: NOW. In a filing disclosed on April 11th, the Representative disclosed that they had sold between $50,001 and $100,000 in ServiceNow stock on March 31st. The trade occurred in the Representative's "CRT - STANDARD UNIT TRUST" account.

Representative Jefferson Shreve also recently made the following trade(s):

• Purchased $15,001 - $50,000 in shares of Harley-Davidson NYSE: HOG on 3/31/2025.
• Purchased $50,001 - $100,000 in shares of Block NYSE: XYZ on 3/31/2025.
• Sold $15,001 - $50,000 in shares of DuPont de Nemours NYSE: DD on 3/31/2025.
• Purchased $15,001 - $50,000 in shares of United Community Banks NASDAQ: UCB on 3/31/2025.
• Sold $15,001 - $50,000 in shares of IDEX NYSE: IEX on 3/31/2025.
• Purchased $15,001 - $50,000 in shares of HNI NYSE: HNI on 3/31/2025.
• Sold $15,001 - $50,000 in shares of Coinbase Global NASDAQ: COIN on 3/31/2025.
• Sold $15,001 - $50,000 in shares of Constellation Energy NASDAQ: CEG on 3/31/2025.
• Sold $50,001 - $100,000 in shares of Simon Property Group NYSE: SPG on 3/31/2025.
• Purchased $50,001 - $100,000 in shares of Advanced Micro Devices NASDAQ: AMD on 3/31/2025.

ServiceNow Trading Down 3.1 %

NOW stock traded down $24.48 during trading on Friday, hitting $772.18. 1,802,088 shares of the company traded hands, compared to its average volume of 1,480,170. The company has a 50-day moving average of $852.94 and a 200-day moving average of $970.14. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The firm has a market capitalization of $159.84 billion, a PE ratio of 113.06, a P/E/G ratio of 4.51 and a beta of 1.08.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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

Institutional Investors Weigh In On ServiceNow

Several hedge funds and other institutional investors have recently made changes to their positions in NOW. GAMMA Investing LLC raised its stake in shares of ServiceNow by 87,501.3% in 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 buying an additional 2,686,291 shares during the period. Norges Bank bought a new position in shares of ServiceNow in the fourth quarter worth approximately $2,603,360,000. Proficio Capital Partners LLC increased its stake in shares of 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 purchasing an additional 666,383 shares in the last quarter. Alphinity Investment Management Pty Ltd purchased a new position in shares of ServiceNow during the 4th quarter valued at $682,468,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 worth $8,434,235,000 after buying an additional 509,467 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Insider Buying and Selling

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

Analyst Ratings Changes

Several brokerages have recently commented on NOW. Citigroup lowered their price objective on shares of ServiceNow from $1,432.00 to $1,426.00 and set a "buy" rating for the company in a research note on Tuesday, February 4th. 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 research note on Wednesday, April 2nd. Oppenheimer boosted their price objective on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Piper Sandler raised their price objective on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Finally, Robert W. Baird decreased their target price on ServiceNow from $1,200.00 to $1,010.00 and set an "outperform" rating for the company in a research report on Wednesday, March 26th. One 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 company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $1,057.17.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana's 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana's 6th Congressional District. He declared candidacy for the 2026 election. Email editor@ballotpedia.org to notify us of updates to this biography. Jefferson Shreve earned a bachelor's degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve's career experience includes working as a real estate executive. Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

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.