Rep. Robert Bresnahan, Jr. Buys ServiceNow, Inc. (NYSE:NOW) Stock

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently bought shares of ServiceNow, Inc. (NYSE:NOW). In a filing disclosed on February 13th, the Representative disclosed that they had bought between $1,001 and $15,000 in ServiceNow stock on February 3rd. The trade occurred in the Representative’s “JP MORGAN BROKERAGE ACCOUNT #2” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $15,001 – $50,000 in shares of Lowe’s Companies (NYSE:LOW) on 2/7/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of Take-Two Interactive Software (NASDAQ:TTWO) on 2/3/2025.
• Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 1/30/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/30/2025.
• Sold $1,001 – $15,000 in shares of Meta Platforms (NASDAQ:META) on 1/29/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Manhattan Associates (NASDAQ:MANH) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 1/29/2025.

ServiceNow Stock Performance

NOW stock traded down $3.81 during trading on Friday, reaching $985.67. 1,502,276 shares of the stock were exchanged, compared to its average volume of 1,777,070. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The company has a market capitalization of $203.05 billion, a P/E ratio of 144.31, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99. The stock has a 50 day simple moving average of $1,070.53 and a 200-day simple moving average of $971.00. 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 (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its board has authorized 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 repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On ServiceNow

Several institutional investors and hedge funds have recently made changes to their positions in the company. Meiji Yasuda Life Insurance Co grew its holdings in shares of ServiceNow by 217.8% in the 4th quarter. Meiji Yasuda Life Insurance Co now owns 14,235 shares of the information technology services provider’s stock valued at $15,091,000 after buying an additional 9,756 shares during the period. Wahed Invest LLC grew its holdings in shares of ServiceNow by 5.4% in the 4th quarter. Wahed Invest LLC now owns 5,151 shares of the information technology services provider’s stock valued at $5,461,000 after buying an additional 265 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in shares of ServiceNow by 34.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 14,422 shares of the information technology services provider’s stock valued at $15,289,000 after buying an additional 3,719 shares during the period. Itau Unibanco Holding S.A. boosted its stake in ServiceNow by 1.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 16,964 shares of the information technology services provider’s stock worth $17,984,000 after purchasing an additional 169 shares during the period. Finally, Keel Point LLC increased its holdings in ServiceNow by 12.0% during the 4th quarter. Keel Point LLC now owns 867 shares of the information technology services provider’s stock worth $919,000 after purchasing an additional 93 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insiders Place Their Bets

In other ServiceNow news, insider Nicholas Tzitzon sold 313 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the completion of the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,884,725.40. This represents a 7.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Larry Quinlan sold 415 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $1,010.46, for a total value of $419,340.90. Following the transaction, the director now owns 1,322 shares of the company’s stock, valued at approximately $1,335,828.12. This trade represents a 23.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,257 shares of company stock worth $23,579,376. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on NOW shares. Scotiabank started coverage on shares of ServiceNow in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 target price for the company. Jefferies Financial Group cut their target price on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Mizuho lifted their target price on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. JMP Securities reiterated a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a research note on Thursday, January 30th. Finally, Barclays lifted their target price on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.