Rep. Jefferson Shreve Sells Off Shares of ServiceNow, Inc. (NYSE:NOW)

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 Stock Performance

NYSE:NOW traded down $24.48 during midday trading on Friday, reaching $772.18. The stock had a trading volume of 1,802,088 shares, compared to its average volume of 1,480,170. The stock has a market capitalization of $159.84 billion, a P/E ratio of 113.06, a PEG ratio of 4.51 and a beta of 1.08. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick 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's fifty day simple moving average is $852.94 and its 200-day simple moving average is $970.14.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS 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 often an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have recently issued reports on NOW. Morgan Stanley dropped their price objective on shares of ServiceNow from $960.00 to $881.00 and set an "equal weight" rating on the stock in a report on Wednesday. Canaccord Genuity Group restated a "buy" rating and set a $1,275.00 price objective on shares of ServiceNow in a research report on Tuesday, March 11th. BMO Capital Markets cut their target price on ServiceNow from $1,185.00 to $990.00 and set an "outperform" rating for the company in a research note on Friday, April 4th. Robert W. Baird lowered 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. Finally, Wells Fargo & Company dropped their price objective on shares of ServiceNow from $1,250.00 to $1,100.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,057.17.

Insider Buying and Selling

In related news, CEO William R. Mcdermott sold 1,263 shares of ServiceNow stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the sale, the chief executive officer now owns 2,595 shares of the company's stock, valued at approximately $2,644,564.50. The trade was a 32.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total value of $2,720,355.40. Following the transaction, the insider now directly owns 3,649 shares of the company's stock, valued at $3,370,654.28. This trade represents a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,250 shares of company stock worth $19,853,273. 0.38% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ServiceNow

Large investors have recently bought and sold shares of the company. Arete Wealth Advisors LLC increased its holdings in shares of ServiceNow by 47.4% in the third quarter. Arete Wealth Advisors LLC now owns 1,555 shares of the information technology services provider's stock worth $1,387,000 after acquiring an additional 500 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of ServiceNow during the third quarter worth $551,000. Continuum Advisory LLC raised its stake in shares of ServiceNow by 46.9% in the 3rd quarter. Continuum Advisory LLC now owns 141 shares of the information technology services provider's stock valued at $126,000 after purchasing an additional 45 shares during the period. Soltis Investment Advisors LLC lifted its holdings in shares of ServiceNow by 3.5% in the third quarter. Soltis Investment Advisors LLC now owns 568 shares of the information technology services provider's stock valued at $508,000 after purchasing an additional 19 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of ServiceNow during the third quarter worth about $9,833,000. Institutional investors own 87.18% of the company's stock.

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.