Rep. Robert Bresnahan, Jr. Buys ServiceNow, Inc. (NYSE:NOW) Shares

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently bought shares of ServiceNow, Inc. NYSE: NOW. In a filing disclosed on April 09th, the Representative disclosed that they had bought between $1,001 and $15,000 in ServiceNow stock on March 13th. The trade occurred in the Representative's "JP MORGAN BROKERAGE ACCOUNT #2" account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of Cadence Design Systems NASDAQ: CDNS on 3/17/2025.
• Purchased $1,001 - $15,000 in shares of Intel NASDAQ: INTC on 3/13/2025.
• Purchased $1,001 - $15,000 in shares of SEA NYSE: SE on 3/11/2025.
• Sold $1,001 - $15,000 in shares of Reddit NYSE: RDDT on 3/11/2025.
• Sold $1,001 - $15,000 in shares of Robinhood Markets NASDAQ: HOOD on 3/11/2025.
• Sold $1,001 - $15,000 in shares of Oracle NYSE: ORCL on 3/11/2025.
• Purchased $1,001 - $15,000 in shares of International Business Machines NYSE: IBM on 3/11/2025.
• Sold $1,001 - $15,000 in shares of Tesla NASDAQ: TSLA on 3/11/2025.
• Sold $1,001 - $15,000 in shares of Broadcom NASDAQ: AVGO on 3/11/2025.
• Sold $1,001 - $15,000 in shares of NVIDIA NASDAQ: NVDA on 3/11/2025.

ServiceNow Stock Performance

NOW traded up $13.96 during trading on Monday, reaching $799.63. The company's stock had a trading volume of 157,734 shares, compared to its average volume of 1,462,089. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The company's fifty day moving average price is $875.51 and its 200-day moving average price is $973.89. The company has a market capitalization of $165.52 billion, a price-to-earnings ratio of 116.15, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09.

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ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting analysts' consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, equities analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Orrstown Financial Services Inc. boosted its stake in ServiceNow by 12.0% during the first quarter. Orrstown Financial Services Inc. now owns 828 shares of the information technology services provider's stock valued at $659,000 after buying an additional 89 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in shares of ServiceNow by 70.1% in the 1st quarter. Sivia Capital Partners LLC now owns 803 shares of the information technology services provider's stock valued at $639,000 after purchasing an additional 331 shares during the last quarter. Perkins Coie Trust Co purchased a new position in shares of ServiceNow in the 1st quarter worth approximately $49,000. AAFMAA Wealth Management & Trust LLC increased its position in shares of ServiceNow by 1.4% during the 1st quarter. AAFMAA Wealth Management & Trust LLC now owns 2,082 shares of the information technology services provider's stock valued at $1,658,000 after purchasing an additional 28 shares during the last quarter. Finally, First Affirmative Financial Network lifted its position in ServiceNow by 5.8% in the first quarter. First Affirmative Financial Network now owns 872 shares of the information technology services provider's stock worth $694,000 after buying an additional 48 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, General Counsel Russell S. Elmer sold 336 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total value of $341,896.80. Following the completion of the sale, the general counsel now owns 4,332 shares of the company's stock, valued at approximately $4,408,026.60. The trade was a 7.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 455 shares of the company's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the sale, the insider now directly owns 3,027 shares of the company's stock, valued at approximately $3,204,200.58. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,351 shares of company stock valued at $20,050,076. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NOW shares. Robert W. Baird decreased their price target on shares of ServiceNow from $1,200.00 to $1,010.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. Scotiabank dropped their target price on shares of ServiceNow from $1,230.00 to $1,050.00 and set a "sector outperform" rating for the company in a research report on Monday, March 17th. StockNews.com downgraded ServiceNow from a "buy" rating to a "hold" rating in a report on Tuesday, February 11th. Citigroup dropped their target price on ServiceNow from $1,432.00 to $1,426.00 and set a "buy" rating on the stock in a report on Tuesday, February 4th. Finally, UBS Group decreased their target price on ServiceNow from $1,250.00 to $1,000.00 and set a "buy" rating for the company in a research note on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,073.93.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania's 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania's 8th Congressional District. He declared candidacy for the 2026 election. Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

ServiceNow Company Profile

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.