Top 5 Tech Stocks to Buy According to Billionaire Louis Bacon

3. ServiceNow, Inc. (NYSE:NOW)

Moore Capital Investment’s Stake Value: $17.8 million

Percentage of Moore Capital Investment’s 13F Portfolio: 0.47%

Number of Hedge Fund Holders: 99

ServiceNow, Inc. (NYSE:NOW) is a cloud services provider that offers its customers a host of technologies such as artificial intelligence, machine learning, workflow management, and encryption. The firm is headquartered in Santa Clara, California, the United States.

Moore Capital Investment held a $17.8 million stake in ServiceNow, Inc. (NYSE:NOW) as part of its June quarter of 2022 investment portfolio. During the same time period, 99 of the 895 hedge funds profiled by Insider Monkey had invested in the company.

ServiceNow, Inc. (NYSE:NOW)’s Information Technology Service Management (ITSM) platform is a leader in the market, as it holds a remarkable share that is greater than 50%. Additionally, the company is building deeper relationships with its older customers, and its 2010 cohort has an annual contract growth rate of 176%.

ServiceNow, Inc. (NYSE:NOW)’s largest investor is Ken Fisher’s Fisher Asset Management which owns 1.4 million shares that are worth $693 million.