ServiceNow (NYSE:NOW) Stock 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 Trading Up 2.1 %

Shares of ServiceNow stock opened at $1,015.45 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a 50 day moving average of $905.83 and a 200 day moving average of $809.18. ServiceNow, Inc. has a fifty-two week low of $615.54 and a fifty-two week high of $1,024.44. The firm has a market capitalization of $209.18 billion, a price-to-earnings ratio of 158.47, a PEG ratio of 5.48 and a beta of 0.98.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.21 earnings per share. As a group, research analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Insider Activity

In other news, Director Paul Edward Chamberlain sold 135 shares of ServiceNow stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total transaction of $110,970.00. Following the completion of the sale, the director now directly owns 10,767 shares in the company, valued at approximately $8,850,474. 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 accessible through the SEC website. In related news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,027,502.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paul Edward Chamberlain sold 135 shares of ServiceNow stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $822.00, for a total value of $110,970.00. Following the transaction, the director now owns 10,767 shares of the company’s stock, valued at $8,850,474. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,343 shares of company stock worth $2,791,181. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Hedge funds have recently added to or reduced their stakes in the company. Creekmur Asset Management LLC acquired a new stake in ServiceNow in the first quarter valued at about $25,000. Versant Capital Management Inc lifted its position 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 valued at $27,000 after acquiring an additional 28 shares during the period. EntryPoint Capital LLC lifted its position in shares of ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares during the period. Ridgewood Investments LLC acquired a new stake in shares of ServiceNow during the 2nd quarter valued at approximately $32,000. Finally, DT Investment Partners LLC lifted its position in shares of ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 17 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the topic of several recent analyst reports. Robert W. Baird increased their target price on ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Barclays increased their target price on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Citigroup increased their target price on ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a report on Friday, October 25th. JMP Securities increased their target price on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a report on Thursday, October 17th. Finally, Piper Sandler increased their target price on ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. One equities research 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $970.33.

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.