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Jacqueline P. Canney, the Chief People Officer of ServiceNow, Inc. (NYSE:NOW), recently sold shares in the company valued at approximately $481,635. This transaction took place on January 16, 2025, at a price of $1058.54 per share. ServiceNow, with a market capitalization of $221.6 billion, has demonstrated impressive financial performance, maintaining industry-leading gross profit margins of 79.2% and delivering a robust 43.6% return over the past six months.
In addition to the sale, Canney executed a series of transactions on January 15, 2025. She acquired 724 shares of common stock through the vesting of restricted stock units, which were priced at $0 per share. Concurrently, she disposed of 269 shares to cover tax obligations related to the vesting, at a price of $1054.13 per share, amounting to a total of $283,560. According to InvestingPro analysis, ServiceNow shows strong financial health with 15 key insights available to subscribers.
These transactions were executed under a pre-established Rule 10b5-1 trading plan, which Canney adopted on February 27, 2024. Following these activities, Canney holds a total of 3,027 shares in ServiceNow. Based on InvestingPro's Fair Value analysis, the stock currently appears to be trading above its estimated Fair Value.
In other recent news, ServiceNow has been the focus of several financial firms. Barclays (LON:BARC) has maintained an Overweight rating for ServiceNow, following the company's announcement of its plan to acquire AI-driven conversation data analysis firm, Cuein. Cuein's technology is expected to enhance ServiceNow's AI agents and support teams in managing conversation workflows effectively. The acquisition, expected to be completed in the first quarter of 2025, is seen by Barclays as a strategic move to expedite ServiceNow's agentic AI roadmap.
ServiceNow's impressive financial performance, highlighted by a gross profit margin of 79.24% and a 23.48% revenue growth over the last twelve months, has also been acknowledged by other firms. Cantor Fitzgerald initiated an Overweight rating for ServiceNow, while Evercore ISI analysts maintained an Outperform rating and increased their price target on the company's shares. Similarly, Stifel analysts maintained their Buy rating and a price target on ServiceNow shares, based on solid enterprise deal activity.
All these developments underline the growing confidence in ServiceNow's continued growth and ability to integrate new technologies to enhance its offerings. The recent analyst ratings and the planned acquisition of Cuein are significant developments for ServiceNow in its pursuit of AI-driven growth.
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