ServiceNow (NYSE:NOW) Shares Acquired Rep. Josh Gottheimer

Representative Josh Gottheimer (D-New Jersey) recently bought shares of ServiceNow, Inc. (NYSE:NOW). In a filing disclosed on November 06th, the Representative disclosed that they had bought between $1,001 and $15,000 in ServiceNow stock on October 8th. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Texas Capital Bancshares (NASDAQ:TCBI) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of ITT (NYSE:ITT) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of Stifel Financial (NYSE:SF) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of ICU Medical (NASDAQ:ICUI) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of AppFolio (NASDAQ:APPF) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Gates Industrial (NYSE:GTES) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/29/2024.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/28/2024.
• Purchased $1,001 – $15,000 in shares of Disco (OTCMKTS:DSCSY) on 10/28/2024.
• Purchased $1,001 – $15,000 in shares of Enerpac Tool Group (NYSE:EPAC) on 10/25/2024.

ServiceNow Stock Down 0.7 %

NOW opened at $1,008.08 on Friday. The company has a market capitalization of $207.66 billion, a P/E ratio of 156.78, a P/E/G ratio of 5.71 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The firm’s fifty day moving average price is $912.56 and its two-hundred day moving average price is $812.60. ServiceNow, Inc. has a fifty-two week low of $615.54 and a fifty-two week high of $1,024.44.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period in the previous year, the business earned $1.21 EPS. The firm’s revenue was up 22.2% on a year-over-year basis. On average, analysts anticipate that ServiceNow, Inc. will post 7.07 EPS for the current year.

Insider Activity at ServiceNow

In other news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at $2,799,853.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 804 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total transaction of $652,848.00. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $2,457,924. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,343 shares of company stock valued at $2,791,181. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NOW. Barclays increased their target price on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. KeyCorp increased their target price on ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Morgan Stanley downgraded ServiceNow from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $900.00 to $960.00 in a report on Monday, October 21st. Wells Fargo & Company upped their price target on ServiceNow from $1,025.00 to $1,050.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Sanford C. Bernstein lifted their price objective on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $970.33.

Hedge Funds Weigh In On ServiceNow

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Creekmur Asset Management LLC bought a new position in shares of ServiceNow during the first quarter worth about $25,000. Versant Capital Management Inc grew its stake in shares of ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 28 shares in the last quarter. EntryPoint Capital LLC raised its holdings in shares of ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares during the last quarter. Ridgewood Investments LLC bought a new stake in shares of ServiceNow in the second quarter worth $32,000. Finally, DT Investment Partners LLC boosted its holdings in ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer’s career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer’s committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

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.