ServiceNow, Inc. (NYSE:NOW), a prominent player in the software industry with a market capitalization of $203 billion, saw its General Counsel Russell S. Elmer recently execute several transactions involving the company’s common stock, according to a filing with the Securities and Exchange Commission. On May 8, Elmer sold 191 shares at an average price of $985 per share, amounting to a total sale of $188,135. This transaction was conducted under a pre-established trading plan. According to InvestingPro analysis, the stock is currently trading near its Fair Value.
Additionally, on May 7, Elmer engaged in a couple of other transactions. He acquired 415 shares of common stock through the vesting of restricted stock units (RSUs) at no cost. In a separate transaction on the same day, he relinquished 224 shares, valued at $983.29 each, totaling $220,256. This was to cover federal and state tax obligations resulting from the vesting of RSUs. ServiceNow demonstrates strong financial performance with impressive gross profit margins of 79% and revenue growth of 21% over the last twelve months.InvestingPro subscribers have access to 15+ additional investment tips and comprehensive analysis for ServiceNow, including detailed valuation metrics and growth forecasts.
Following these transactions, Elmer holds a total of 4,332 shares directly in the company, which maintains a GOOD overall financial health score according to InvestingPro analysis.
In other recent news, ServiceNow has made significant strides in its AI and data integration capabilities. At the Knowledge 2025 event in Las Vegas, ServiceNow introduced AI agents within its Security and Risk solutions, aiming to transition enterprises from reactive defense to autonomous resilience. This includes partnerships with Microsoft (NASDAQ:MSFT) and Cisco (NASDAQ:CSCO) to enhance AI ecosystems and provide robust security solutions. Additionally, ServiceNow announced the launch of its Workflow Data Network, designed to connect various data platforms and enhance real-time intelligence for AI agents. This initiative includes a strategic partnership with Amazon (NASDAQ:AMZN) Web Services (AWS) to integrate AWS capabilities with the Workflow Data Network, allowing real-time unification of enterprise data.
ServiceNow also revealed plans to acquire data.world, a leader in enterprise data cataloging and governance, which is expected to enrich the ServiceNow AI Platform. The financial terms of this acquisition were not disclosed. Furthermore, ServiceNow has launched AI capabilities for autonomous IT operations, aiming to automate IT issues and reduce service disruptions. These developments are part of ServiceNow’s broader strategy to enhance its AI-driven Workflow Data Fabric and improve data management across enterprises.
In analyst news, Cantor Fitzgerald has reiterated an Overweight rating for ServiceNow, maintaining a price target of $1,048. This reflects the firm’s confidence in ServiceNow’s growth trajectory, particularly in the AI market. The analysts highlighted ServiceNow’s AI Platform for its comprehensive approach and strategic position in the AI landscape. These updates underscore ServiceNow’s ongoing efforts to lead in digital transformation and AI integration across various business operations.
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