10 Stocks Jim Cramer Discussed & Continued To Talk About AI & Enterprise Software

6. ServiceNow Inc (NYSE:NOW)

Number of Hedge Fund Holdings: 104

ServiceNow Inc (NYSE:NOW) is an enterprise workflow management software provider. Its shares are down by 44% year-to-date and by 30% year-to-date. Well-known financial firm Wedbush discussed the software company in February. It added ServiceNow Inc (NYSE:NOW) to its IVES AI 30 list and outlined that the recent selloff in software stocks was overdone. According to Wedbush, since the AI revolution is still in its early stages, the market is overestimating the risks posed to software companies. Cramer also frequently discussed the impact of AI on the software industry. The CNBC TV host has asserted on several occasions that the industry’s seat-based business model is creating difficulties in a changed market environment. Bernstein kept an Outperform rating and a $219 share price target on ServiceNow Inc (NYSE:NOW) on January 30th. It outlined that the firm appeared to be a growth opportunity in large-cap stocks due to the recent share price weakness. As for Cramer, he’s excited about ServiceNow Inc (NYSE:NOW)’s upcoming share buyback:

“Everyday I hear that the whole business is going away. I don’t believe that ServiceNow, with Bill McDermott buying a big slug coming up on Feb 27th. . .

“I think the only active buyback I see is Bill McDermott is going to step up and buy back a ton of stock on Feb 27th. That’s because they were selling stock and then he’s got six months to come in and buy. He’s doing everything he can to get ServiceNow higher, everything, everything. . .”