Rep. Dan Newhouse Sells Off Shares of ServiceNow, Inc. (NYSE:NOW)

Representative Dan Newhouse (R-Washington) recently sold shares of ServiceNow, Inc. NYSE: NOW. In a filing disclosed on May 16th, the Representative disclosed that they had sold between $1,001 and $15,000 in ServiceNow stock on April 11th.

Representative Dan Newhouse also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of PayPal NASDAQ: PYPL on 4/11/2025.
• Sold $1,001 - $15,000 in shares of UnitedHealth Group NYSE: UNH on 4/11/2025.
• Sold $1,001 - $15,000 in shares of Moody's NYSE: MCO on 4/11/2025.
• Sold $1,001 - $15,000 in shares of NVIDIA NASDAQ: NVDA on 4/11/2025.
• Sold $1,001 - $15,000 in shares of Dollar General NYSE: DG on 4/11/2025.
• Sold $1,001 - $15,000 in shares of Lowe's Companies NYSE: LOW on 4/11/2025.
• Sold $1,001 - $15,000 in shares of Intuit NASDAQ: INTU on 4/11/2025.
• Sold $1,001 - $15,000 in shares of Microsoft NASDAQ: MSFT on 4/11/2025.
• Sold $1,001 - $15,000 in shares of BlackRock NYSE: BLK on 4/11/2025.
• Sold $1,001 - $15,000 in shares of Broadcom NASDAQ: AVGO on 4/11/2025.

ServiceNow Stock Performance

Shares of NYSE:NOW traded down $10.24 during trading on Friday, hitting $1,005.53. 1,384,858 shares of the stock traded hands, compared to its average volume of 1,848,014. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average price of $878.23 and a two-hundred day moving average price of $975.16. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. The company has a market cap of $208.14 billion, a price-to-earnings ratio of 147.22, a P/E/G ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The company had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. During the same quarter in the previous year, the company earned $3.41 earnings per share. The firm's revenue for the quarter was up 18.6% on a year-over-year basis. As a group, equities analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its Board of Directors has approved a share repurchase program on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Institutional Investors Weigh In On ServiceNow

Several large investors have recently bought and sold shares of NOW. Bogart Wealth LLC lifted its stake in ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 17 shares during the last quarter. Graybill Wealth Management LTD. purchased a new stake in shares of ServiceNow during the 1st quarter worth $26,000. Quarry LP acquired a new position in shares of ServiceNow during the fourth quarter worth $27,000. Atala Financial Inc purchased a new position in ServiceNow in the fourth quarter valued at $28,000. Finally, WASHINGTON TRUST Co increased its holdings in ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after buying an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Bank of America dropped their price objective on ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Wall Street Zen lowered shares of ServiceNow from a "buy" rating to a "hold" rating in a report on Tuesday, February 11th. Barclays set a $1,085.00 price objective on shares of ServiceNow in a report on Wednesday, May 7th. UBS Group reissued a "buy" rating and set a $1,025.00 target price (up previously from $900.00) on shares of ServiceNow in a report on Thursday, April 24th. Finally, Citigroup lifted their target price on shares of ServiceNow from $1,128.00 to $1,160.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,062.50.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total value of $2,720,355.40. Following the completion of the sale, the insider now owns 3,649 shares in the company, valued at approximately $3,370,654.28. The trade was a 44.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Russell S. Elmer sold 191 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $985.00, for a total transaction of $188,135.00. Following the sale, the general counsel now owns 4,332 shares of the company's stock, valued at approximately $4,267,020. This represents a 4.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,619 shares of company stock worth $5,230,568 over the last ninety days. Corporate insiders own 0.38% of the company's stock.

About Representative Newhouse

Dan Newhouse (Republican Party) is a member of the U.S. House, representing Washington's 4th Congressional District. He assumed office on January 3, 2015. His current term ends on January 3, 2027. Newhouse (Republican Party) ran for re-election to the U.S. House to represent Washington's 4th Congressional District. He won in the general election on November 5, 2024. Click here to see Newhouse's key votes in Congress. Newhouse served as a member of the Washington House of Representatives representing District 15-Position 2 from 2003 through 2009 and as Washington Director of Agriculture from 2009 to 2013. Newhouse was first elected to the state House in 2002 and served until he was named state Director of Agriculture in 2009. He was first appointed by Governor Christine Gregoire on February 18, 2009.

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.

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