5 High Growth SaaS Stocks that are Profitable

4. ServiceNow, Inc. (NYSE:NOW)

Q/Q Sales Growth: 20%

Number of Hedge Fund Holders in Q3 2022: 103

ServiceNow, Inc. (NYSE:NOW) is a cloud computing company that provides a platform to enable firms to manage their IT systems, run analytics, and develop products. The firm is headquartered in Santa Clara, California.

ServiceNow, Inc. (NYSE:NOW)’s fiscal quarter that ended in December 2022 saw the firm rake in $1.9 billion in revenue, marking a strong 20% annual growth. Additionally,  the firm raked in a whopping $325 million in profit for the full year 2022. 103 of the 920 hedge funds polled by Insider Monkey during Q3 2022 had bought ServiceNow, Inc. (NYSE:NOW)’s shares.

ServiceNow, Inc. (NYSE:NOW)’s largest investor is Ken Fisher’s Fisher Asset Management which owns 1.3 million shares that are worth $508 million.

Follow Servicenow Inc. (NYSE:NOW)