5 Best SaaS Stocks To Buy Now

3. ServiceNow, Inc. (NYSE:NOW)

Number of Hedge Fund Investors In Q2 2023: 93

ServiceNow, Inc. (NYSE:NOW) is a diversified SaaS company that provides businesses with tools to manage data analytics, procurement functions, automation, and other functions. The firm’s second quarter earnings saw it grow revenues by a strong 23% annually which was fueled by a 25% growth in its subscription revenue.

Insider Monkey’s second quarter of 2023 research covering 910 hedge funds revealed that 86 had bought and owned the firm’s shares. ServiceNow, Inc. (NYSE:NOW)’s largest stakeholder among these is Rajiv Jain’s GQG Partners since it owns $859 million worth of shares.

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