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SANTA CLARA, CA—Gina Mastantuono, President and Chief Financial Officer of ServiceNow, Inc. (NYSE:NOW), recently sold 4,442 shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The shares were sold at an average price of $964.70 each, totaling approximately $4.29 million. The transaction comes as ServiceNow, currently valued at $190 billion, trades at premium multiples according to InvestingPro data.
The transaction was carried out on February 21, 2025, as part of a pre-arranged trading plan under Rule 10b5-1, which Mastantuono adopted on November 22, 2024. Following this sale, Mastantuono retains ownership of 11,126 shares in the company.
ServiceNow, headquartered in Santa Clara, California, is a prominent player in the prepackaged software industry, demonstrating robust financial performance with a 22.4% revenue growth and impressive 79.2% gross profit margin in the last twelve months. The company continues to focus on expanding its cloud-based platform offerings for enterprises globally. For detailed analysis and additional insights, investors can access comprehensive research reports on InvestingPro, which features 16 additional key tips about ServiceNow’s performance and outlook.
In other recent news, ServiceNow reported its fourth-quarter 2024 earnings, surpassing earnings per share (EPS) forecasts with an actual EPS of $3.67, slightly above the anticipated $3.65. Revenue for the quarter aligned with expectations, totaling $2.96 billion, while subscription revenue experienced a 21% year-over-year growth. Despite these positive financial results, the company’s stock experienced a significant drop in after-hours trading. In a related development, Citi analyst Tyler Radke lowered the price target for ServiceNow shares to $1,426, maintaining a Buy rating due to underlying strengths despite softer headline numbers. Additionally, ServiceNow introduced its Government Transformation Suite for U.S. federal agencies, aiming to enhance efficiency and return on investment, supported by partnerships with Accenture (NYSE:ACN) Federal and Intact. Furthermore, the company has amended its bylaws, including a new forum selection clause, to streamline governance and align with regulatory changes. These recent developments highlight ServiceNow’s ongoing strategic initiatives and financial performance.
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