Rep. Dan Newhouse Unloads 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 Down 1.0%

Shares of NOW stock traded down $10.24 during trading hours on Monday, hitting $1,005.53. 1,387,522 shares of the company were exchanged, compared to its average volume of 1,528,633. The business has a 50 day moving average of $881.74 and a two-hundred day moving average of $974.98. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. The company has a market capitalization of $208.13 billion, a PE ratio of 147.22, a PEG ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $3.09 billion. During the same quarter in the prior year, the firm earned $3.41 earnings per share. The firm’s revenue was up 18.6% compared to the same quarter last year. Analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its Board of Directors has initiated a stock buyback program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business’s 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 owns 3,649 shares in the company, valued at approximately $3,370,654.28. The trade was a 44.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Russell S. Elmer sold 62 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total transaction of $63,426.00. Following the completion of the transaction, the general counsel now owns 4,332 shares in the company, valued at $4,431,636. This trade represents a 1.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,619 shares of company stock valued at $5,230,568 in the last ninety days. 0.38% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ServiceNow

Several hedge funds and other institutional investors have recently made changes to their positions in NOW. AdvisorNet Financial Inc grew its holdings in shares of ServiceNow by 34.4% during the 4th quarter. AdvisorNet Financial Inc now owns 129 shares of the information technology services provider’s stock valued at $137,000 after purchasing an additional 33 shares during the last quarter. Oak Thistle LLC bought a new stake in ServiceNow during the 4th quarter worth approximately $217,000. Board of the Pension Protection Fund bought a new stake in ServiceNow during the 4th quarter worth approximately $212,000. Kathmere Capital Management LLC grew its holdings in ServiceNow by 22.5% during the 4th quarter. Kathmere Capital Management LLC now owns 316 shares of the information technology services provider’s stock worth $335,000 after acquiring an additional 58 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. grew its holdings in ServiceNow by 2.2% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $487,000 after acquiring an additional 10 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NOW. JMP Securities restated a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a report on Tuesday, May 6th. Morgan Stanley increased their price target on shares of ServiceNow from $881.00 to $950.00 and gave the company an “equal weight” rating in a research note on Thursday, April 24th. Robert W. Baird raised their target price on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. BMO Capital Markets raised their target price on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 14th. Finally, Raymond James cut their target price on shares of ServiceNow from $1,200.00 to $1,000.00 and set an “outperform” rating for the company in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $1,062.50.

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.

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.