5 Technology Stock Picks of John Kim’s Night Owl Capital

In this article, we discuss the 5 technology stock picks of John Kim’s Night Owl Capital. If you want to read our detailed analysis of John Kim’s history and hedge fund performance, go directly to 10 Technology Stock Picks of John Kim’s Night Owl Capital.

5. ServiceNow, Inc. (NYSE:NOW)

Night Owl Capital’s Stake Value: $35.54 million

Percentage of Night Owl Capital’s 13F Portfolio: 6.23%

Number of Hedge Fund Holders: 87

ServiceNow, Inc. (NYSE:NOW) is a California-based software company that develops and provides a cloud-based computing platform to its customers for the management of workflow regarding the firm’s operations.

Among the hedge funds tracked by Insider Monkey, New York-based Tiger Global Management is the leading shareholder in ServiceNow, Inc. (NYSE:NOW) with 2.26 million shares worth $1.37 billion, making up 2.63% of the portfolio.

RiverPark Funds mentioned ServiceNow, Inc. (NYSE:NOW) in its third-quarter 2021 investor letter. Here is what it said:

“NOW shares were our final top contributor for 3Q on a strong beat and raise quarter. The company reported 31% subscription revenue growth, 30% subscription billings growth, and a 19% non-GAAP FCF margin for the quarter, while raising full year subscription revenue and billings guidance to 29% and 31%, respectively, as well as raising non-GAAP FCF margin by 100 basis points to 31%.

ServiceNow is a best-of-breed provider of both IT Service Management (ITSM) and IT Operations Management (ITOM) solutions to enterprise customers. The company’s products serve mainly its clients’ internal employee base with a current focus on automating the process of IT deployment, configuration and service and management of IT assets across an organization. Both its ITSM and ITOM solutions are delivered as a software-as-a-service (SaaS), and are each leading solutions in growing markets, driven by the secular trend of enterprises transitioning all aspects of their business and operations to the cloud. As the company maintains and adds customers, upsells them, and expands into adjacent markets, we believe NOW should sustain a strong long-term revenue and FCF growth trajectory.”