ServiceNow's most recent quarterly filing reflects continued revenue growth, with trailing twelve-month revenue reaching $13.96 billion, representing year-over-year growth of approximately 22.1% [SEC 10-Q - NOW - 2026-03-31]. Net income on a TTM basis stood at $1.76 billion, with a net margin of 12.6% and a gross margin of 76.6%. Operating margin was recorded at 13.4%. The company held $2.70 billion in cash against total debt of $1.48 billion, indicating a net cash position. EPS growth on a year-over-year basis came in at 2.3%, a notably slower pace relative to revenue expansion. The stock traded at a price-to-earnings ratio of 60.32, with a market capitalisation of approximately $104.5 billion at the reporting date [SEC 10-Q - NOW - 2026-03-31].
Insider activity over the past 30 days recorded 67 transactions with a net selling direction, totalling a net disposal value of approximately $1.73 million [SEC Form 4 - NOW - 2026-05]. The volume of transactions and the consistent net selling direction across the period characterise the recent insider posture as one of disposition rather than accumulation. No notable institutional 13F filing data was provided for this reporting cycle, so no holdings commentary is included.
The prevailing macroeconomic rate environment shows the 10-year US Treasury yield at 4.56% and the 2-year at 4.13%, producing a normal yield curve spread of 43 basis points [FRED DGS10] [FRED DGS2]. This rate configuration is relevant context for a high-multiple software issuer such as ServiceNow, where the discount rate applied to future cash flows is directly influenced by longer-duration Treasury yields. The current rate environment reflects the backdrop against which the company's P/E ratio of 60.32 exists.
This report was generated in response to recent insider selling activity recorded across 67 Form 4 filings in May 2026, which represented the primary triggering event for this update [SEC Form 4 - NOW - 2026-05].