ServiceNow president Paul Fipps sells $300,777 in shares

Paul Fipps, President of ServiceNow, sold 2,034 shares of the company's stock on August 31, 2026. The sale amounted to $300,777, with shares exchanged at prices between $147.860 and $147.875 per share. After the transactions, Mr. Fipps owned 18,305.1822 shares of ServiceNow common stock. This move comes as ServiceNow's stock price has risen 12.5% in the last week, marking a 32% increase over the past six months.

The company, valued at $153 billion, trades at a high P/E ratio of 90, though analysts believe the stock is undervalued compared to its Fair Value. ServiceNow recently reported strong second-quarter 2026 results, with a 50 basis point increase in net new annual contract value driven by its AI and cyber/risk/governance offerings.

Investment firms like Cantor Fitzgerald and D.A. Davidson have maintained positive ratings on ServiceNow, with price targets around $141 and $170, respectively. Meanwhile, other tech companies like Salesforce and Workday also experienced gains despite a general decline in the broader tech sector due to AI concerns.