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Santa Clara, CA — Nicholas Tzitzon, Vice Chairman of ServiceNow, Inc. (NYSE:NOW), a prominent software industry player with a market capitalization of $190 billion and impressive gross profit margins of 79%, recently sold 2,945 shares of the company’s common stock. The transaction, completed on February 25, 2025, was executed at a price of $923.72 per share, amounting to a total value of approximately $2.72 million. The stock, which has seen robust revenue growth of 22% over the last twelve months, is currently trading above its InvestingPro Fair Value.
Following this transaction, Tzitzon retains direct ownership of 3,649 shares of ServiceNow stock. The sale was conducted under a Rule 10b5-1 trading plan, which was adopted on February 29, 2024. Discover 15 additional exclusive insights and comprehensive analysis about ServiceNow with an InvestingPro subscription.
In other recent news, ServiceNow reported its Q4 2024 earnings, exceeding expectations with an EPS of $3.67, slightly above the forecast of $3.65, and revenue aligning with predictions at $2.96 billion. Despite these results, Erste Group downgraded ServiceNow’s stock from Buy to Hold, citing concerns over its high market valuation, even as the company continues to grow rapidly with sales and operating profit advancing at double the rate of its peers. Citi, while maintaining a Buy rating, slightly reduced its price target for ServiceNow shares to $1,426, noting some softer headline numbers but acknowledging underlying strengths in the company’s performance.
Additionally, ServiceNow has introduced a new Government Transformation Suite for U.S. federal agencies, aimed at improving transparency and efficiency, which aligns with the federal government’s focus on accountability. The suite’s launch is supported by partnerships with Accenture (NYSE:ACN) Federal and Intact, promising to streamline workflows and enhance data processing. Furthermore, ServiceNow amended its company bylaws, as detailed in a recent SEC filing, with changes including a new forum selection clause and adjustments to stockholder actions at annual meetings.
These developments reflect ServiceNow’s ongoing efforts to innovate and adapt to market demands while maintaining strong financial performance.
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