Servicenow Inc Stock Price, News & Analysis

ServiceNow (NYSE: NOW) has announced the appointment of Apple executive Larry Jackson to its board of directors, expanding the board to 11 members. Jackson, the Global Creative Director of Apple Music, brings extensive experience in delivering consumer-grade experiences. CEO Bill McDermott emphasized Jackson's innovative mindset and insights, which will enhance the company's growth. Jackson's history includes key roles at Beats Music and Universal Music Group, signaling a strong alignment with ServiceNow's mission to improve workplace experiences amidst evolving consumer expectations.

ServiceNow (NYSE: NOW) reported third-quarter 2020 results with subscription revenues of $1,091 million, reflecting a 31% year-over-year growth. The company secured 41 transactions exceeding $1 million in net new annual contract value. Customer growth reached 1,012 accounts, marking a 25% increase. The company raised its full-year revenue guidance to a range of $4,257 - $4,262 million. CEO Bill McDermott expressed confidence in future performance, citing strong momentum and product innovation aimed at digital transformation.

Accenture and ServiceNow have launched a new business group aimed at assisting clients in digital transformation. This collaboration represents a multi-million dollar investment over the next five years. The group will focus on automating processes and enhancing customer and employee experiences across multiple sectors, including telecommunications and healthcare. With around 8,500 skilled professionals, the initiative aims to deliver tailored solutions that drive productivity and operational efficiency. Notably, they have worked with Boehringer Ingelheim, enhancing employee engagement and streamlining business processes.

ServiceNow (NYSE: NOW) has launched Connected Operations, a new solution that integrates IoT data with its digital workflows, enabling enterprises to effectively manage critical infrastructure and enhance their IoT investment returns. This solution allows real-time monitoring across multiple locations, offering insights that enhance customer satisfaction and introduce new revenue opportunities. TAPCO, an early adopter, reports significant improvements in operational efficiency and customer experience through increased automation and streamlined workflows.

The NBA and WNBA have entered a multiyear partnership with ServiceNow, designating it as their Official Workflow Partner. This collaboration will enhance workflows across both leagues, particularly in managing health-screening and onboarding processes crucial during the COVID-19 pandemic. ServiceNow aided in safely processing over 13,000 documents and screening more than 2,600 personnel. Future implementations will include ServiceNow's Software Asset Management, IT Operations Pro, Integrated Risk Management, and Customer Service Management to optimize operations and enhance user experiences.

ServiceNow (NYSE: NOW) has been recognized as a Leader in the 2020 Gartner Magic Quadrant for IT Service Management (ITSM) Tools for the seventh consecutive year. The company holds a remarkable 51.1% market share in the global ITSM market as of 2019, demonstrating its significant influence. ServiceNow's ITSM solution enhances productivity through automation and machine learning, providing elevated service experiences and native mobile support. This recognition is seen as validation of ServiceNow's commitment to digital transformation and delivering robust business value to customers.

ServiceNow (NYSE: NOW) has announced the release of its financial results for Q3 2020, which will occur after market close on October 28, 2020. The company will also host a conference call at 2 p.m. PT on the same day to discuss these results. Interested parties can join the call via phone or access a live webcast. An audio replay will be available shortly after the call and remains accessible for 30 days. ServiceNow aims to enhance workplace productivity through its cloud-based solutions.

ServiceNow (NYSE: NOW) has been recognized as a Leader in the 2020 Gartner Magic Quadrant for Enterprise Low-Code Application Platforms (LCAP). This evaluation highlights ServiceNow's App Engine for its execution capabilities and vision completeness, underscoring the company's commitment to low-code application development. As businesses increasingly turn to digital solutions, the App Engine enables rapid creation of digital services, empowering both citizen and professional developers to innovate efficiently. Key features include speed, agility, user experience, and governance.

BV Investment Partners has announced a significant investment in GlideFast Consulting and Pharicode, two Elite partners of ServiceNow (NYSE: NOW). Founded in 2015, GlideFast specializes in ServiceNow implementations and support, while Pharicode, established in 2016, focuses on cloud transformation for government agencies. BV's investment aims to enhance the growth strategies of both companies amidst the growing demand for digital transformation. With a track record of $3.7 billion in investments, BV will support GlideFast and Pharicode to develop competencies in adjacent ServiceNow product categories.