5 Best Software Stocks to Buy Now

ServiceNow is a Platform-as-a-Service software company, offering IT service management, incident response, enterprise software management, operations management and error reporting systems. In the third quarter, ServiceNow said its revenue jumped 30% to reach $1.15 billion, above the Wall Street’s estimates of $1.11 billion. For the fourth quarter, the company expects subscription revenue of $1.155 billion to $1.16 billion, up 28% to 29% year over year.

A total of 82 hedge funds tracked by Insider Monkey reported owning stakes in ServiceNow at the end of the third quarter. Stephen Mandel’s Lone Pine Capital is one of the biggest shareholders of ServiceNow, with 1.77 million shares, worth $858.89 million.