Rep. Marjorie Taylor Greene Buys ServiceNow, Inc. (NYSE:NOW) Stock

Representative Marjorie Taylor Greene (R-Georgia) recently bought shares of ServiceNow, Inc. (NYSE:NOW). In a filing disclosed on November 08th, the Representative disclosed that they had bought between $1,001 and $15,000 in ServiceNow stock on November 7th.

Representative Marjorie Taylor Greene also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Berkshire Hathaway (NYSE:BRK.B) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of FedEx (NYSE:FDX) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of Dell Technologies (NYSE:DELL) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of Southern (NYSE:SO) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of Hershey (NYSE:HSY) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of Tractor Supply (NASDAQ:TSCO) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of Blackstone (NYSE:BX) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of NextEra Energy (NYSE:NEE) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of The Goldman Sachs Group (NYSE:GS) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of Palo Alto Networks (NASDAQ:PANW) on 11/7/2024.

ServiceNow Price Performance

NOW stock traded up $6.28 during mid-day trading on Tuesday, hitting $1,042.29. 305,863 shares of the stock were exchanged, compared to its average volume of 1,276,053. 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 stock has a market capitalization of $214.71 billion, a price-to-earnings ratio of 161.26, a PEG ratio of 5.79 and a beta of 0.98. The business has a fifty day moving average price of $916.20 and a 200 day moving average price of $815.82. ServiceNow, Inc. has a 12 month low of $632.25 and a 12 month high of $1,043.32.

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

Institutional Investors Weigh In On ServiceNow

Institutional investors have recently added to or reduced their stakes in the company. Creekmur Asset Management LLC acquired a new position in ServiceNow in the first quarter valued at about $25,000. Versant Capital Management Inc raised its holdings 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 buying an additional 28 shares in the last quarter. DT Investment Partners LLC lifted its holdings in shares of 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 period. EntryPoint Capital LLC grew its stake in shares of ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 39 shares during the period. Finally, Ridgewood Investments LLC bought a new position in ServiceNow during the second quarter worth about $32,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were 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 directly owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the sale, the insider now directly owns 3,649 shares in the company, valued at $3,027,502.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $2,799,853.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,539 shares of company stock valued at $2,138,333 in the last 90 days. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of recent research reports. Morgan Stanley cut shares of ServiceNow from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $900.00 to $960.00 in a research report on Monday, October 21st. Wells Fargo & Company raised their price objective on ServiceNow from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Tuesday. Needham & Company LLC raised their price target on shares of ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Piper Sandler upped their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Jefferies Financial Group boosted their price target on ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $974.04.

About Representative Greene

Marjorie Taylor Greene (Republican Party) is a member of the U.S. House, representing Georgia’s 14th Congressional District. She assumed office on January 3, 2021. Her current term ends on January 3, 2025. Greene (Republican Party) is running for re-election to the U.S. House to represent Georgia’s 14th Congressional District. She declared candidacy for the 2024 election. Marjorie Taylor Greene earned a bachelor’s degree in business administration from the University of Georgia. Greene’s career experience includes co-owning construction company Taylor Commercial and founding and owning a CrossFit gym.

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.