ServiceNow (NOW)

This company has had solid growth and is forecast to grow exponentially.

High profile acquisitions in the past couple of years haven’t decreased revenue. In 2017, the company acquired the San Diego human-centered design firm Telepathy, which had been founded in 2001; the acquisition doubled the size of ServiceNow’s internal design agency, the Design Experience Organization.

In 2018, ServiceNow acquired FriendlyData, a company specializing in a form of natural language processing that enables queries to be asked in plain language.

The q1 2019 results are expected to show a slight downturn but ServiceNow have outperformed expected revenue 80%+ since going public.

Looks like a solid silicon valley investment with still plenty of growth potential.

ServiceNow, Inc. provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments. It operates the Now platform that offers workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools. The company also provides IT service management product suite for enterprise’s employees, customers, and partners; IT operations management product that connects a customer’s physical and cloud-based IT infrastructure with applications and platforms; IT Asset Management product to automate IT asset lifecycles with workflows; IT business management product suite to manage IT priorities; and enterprise development operations product for developers’ toolchain. In addition, it offers customer service management product for customer service cases and requests; human resources service delivery product; security operations product for security operations management requirements of third-party; governance, risk, and compliance product to create policies and controls; and field service management application. Further, the company provides professional services, training services and certification programs, and customer support services. It serves enterprises in industries, such as financial services, consumer products, IT services, healthcare, government, education, and technology. The company sells its products through its direct sales team, as well as through resale partners. The company was formerly known as and changed its name to ServiceNow, Inc. in May 2012. ServiceNow, Inc. was founded in 2004 and is headquartered in Santa Clara, California.

Cloud Computing company. Recently partnered with Microsoft. Set to grow another 34% over the next 3 years. Reporting solid growth and revenue.

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After a rocky Q2 & Q3 2019 when they lost their CFO and then CEO in rapid succession, ServiceNow has really pulled it back in Q4 with very strong results pushing their stock price up almost 10% on the day.

The SaaS/PaaS market in the corporate & government sectors is extremely strong, with ServiceNow achieving a broad collection of multi-million dollar annual customer subscriptions, presenting an extremely cash-rich business model. These confident results confirm ServiceNow’s dominant position in this space.

Business Process Automation is going to be THE big story in the corporate & government sectors for the 2020s and this consolidates ServiceNow’s position to take over this emerging space, with little in the way of competitors.

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After a good Q4/2019, ServiceNow posted strong Q1/2020 results which (as of today) is reflected in an all time high share price of $370, higher than their previous peak in Jan-2020 of $357

By providing a platform to automate the business workflow of a company through a desktop & mobile web app, they have shown that the current situation can be made to work in their favour.

Tesla are often quoted as the tech share du-jour, but since ServiceNow & Tesla both hit a 5 yr low in Feb 2016, Tesla has risen by a factor of 5.1:1 ($151 -> $777), where as ServiceNow has risen by a factor of 7.4:1 ($50 -> $370). Tesla would have to be at $1117 to match the growth shown by ServiceNow, a price TSLA has yet to achieve.

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I’ll be buying some as soon as they are on FT!