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ServiceNow, Inc.Evidence as of 2026-08-28The desk's Snapshot
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Overview · ServiceNow, Inc.
ServiceNow, Inc. provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. The company operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, electronic service catalogs and portals, configuration management systems, data bench…
Management team
- Mr. Russell S. Elmer · General Counsel & SecretaryFind on LinkedIn
- Mr. Pat Casey · CTO & EVP of Dev OpsFind on LinkedIn
- Mr. Kevin Thomas McBride · Senior VP, Corporate Controller & Chief Accounting OfficerFind on LinkedIn
- Mr. Chirantan Jitendra Desai · President & COOFind on LinkedIn
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Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it — not a rating or a recommendation.
−0.9 on a −2 to +2 scale — was −0.8 before the debate changed the read.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled — the rest of the page is the evidence behind it.
The desk’s surviving evidence leaves a cautious read (Cautious, -0.9 of a possible +2; was -0.8 before debate) with high confidence. ServiceNow reported revenue of $ 3,987,000,000 for fiscal Q2 2026 (ended 2026-06-30), up $ 217,000,000 (≈ 5.8%) from fiscal Q1 2026 and up $ 772,000,000 (≈ 24.0%) year‑over‑year versus fiscal Q2 2025. Gross profit and margin compressed quarter‑over‑quarter — gross profit moved from $ 2,830,000,000 in fiscal Q1 2026 to $ 2,818,000,000 in fiscal Q2 2026 and gross margin fell from about 75.1% to about 70.7% (a ~ 4.4 percentage‑point compression) — and operating income declined from $ 503,000,000 to $ 162,000,000 with net income falling from $ 469,000,000 to $ 298,000,000 over the same comparison.
Balance‑sheet and market items also persist in the record: cash and cash equivalents fell to $ 2,503,000,000 as of 2026-06-30 while long‑term debt was reported at $ 5,435,000,000 on that date; common shares outstanding rose by 3,000,000 to 1,034,000,000; closing price used is $ 138.43 (2026-08-27) with market cap $ 143,136,620,000 and trailing twelve‑month P/E 39.44. Short‑ and medium‑term volatility is high (vol_30d_annualized +63.3%, vol_90d_annualized +72.7%), three‑year drawdown metrics show past large losses (max_drawdown_3y -64.5%, drawdown_from_3y_high -40.9%), and recent momentum readings are mixed (3‑month +27.3%, 12‑1 at -41.3%).
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else — no outside knowledge, no browsing — so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC — revenue, margins, income, debt and share count, quarter by quarter — and reports which way the trend is running.
Revenue for the quarter ended 30 June 2026 (fiscal Q2 2026, 2026-04-01 to 2026-06-30) was $3,987,000,000 compared with $3,770,000,000 in the quarter ended 31 March 2026 (fiscal Q1 2026, 2026-01-01 to 2026-03-31), a quarter-over-quarter increase of $217,000,000 (≈5.8%).
XBRL companyfacts · 0001373715-26-000076Revenue for fiscal Q2 2026 (ended 30 June 2026) was $3,987,000,000 versus $3,215,000,000 in fiscal Q2 2025 (2025-04-01 to 2025-06-30), a year-over-year increase of $772,000,000 (≈24.0%).
XBRL companyfacts · 0001373715-26-000076Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full — its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet — its risk analysis fills in once that lands.
The 10-K filed 29 January 2026 states the company added risk language that "Our customer deals are becoming more complex, which tend to involve longer, more expensive sales cycles, increased pricing pressure, and implementation and configuration challenges."
Item 1A risk-factor diff · 0001373715-26-000007 vs 0001373715-25-000010The 10-K filed 29 January 2026 adds multiple product and implementation risk items, including that "Delays in the release of, or actual or perceived defects in, our products may slow the adoption of our latest technologies" and that "various factors... may cause implementations of our products to be delayed, inefficient or otherwise unsuccessful."
Item 1A risk-factor diff · 0001373715-26-000007 vs 0001373715-25-000010Reads the signal panel above — momentum, volatility, drawdown, relative strength and beta — and ranks each against the whole research universe rather than judging it in isolation.
Momentum over the most recent 3 months is +27.3%.
Moneyta signal set · 2026-08-27weakened in debateMomentum measured 6 months is +26.7% and rank_momentum_6m is the 84th percentile of 547, while momentum_12_1 is -41.3% with rank_momentum_12_1 at the 7th percentile of 547.
Moneyta signal set · 2026-08-27weakened in debateReads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
Institutional 13F-reported holdings total $90.86B as of 2026-03-31, with reported aggregate value down 33.3% quarter-over-quarter, 414 exited positions, and a net holder-count change of -117 versus the prior reported quarter.
13F holdings · 2194 filers · as of 2026-03-31The largest reported institutional holders in the 13F data for the period ended 2026-03-31 include BlackRock, Inc. at $10.19B (value_qoq_pct -30.2), VANGUARD CAPITAL MANAGEMENT LLC at $7.11B (new position in this filing), and STATE STREET CORP at $5.02B (value_qoq_pct -31.5).
13F holdings · 2194 filers · as of 2026-03-31Reads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
ServiceNow's CFO Gina Mastantuono said the company views artificial intelligence as an expansion opportunity rather than a source of budget pressure.
News · thelincolnianonline.com · 2026-08-28An article reports ServiceNow's AI-related annual contract value crossed $1 billion in fiscal Q2 2026.
News · techtimes.com · 2026-08-27Reads parsed Forms 3/4/5 — who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
William R McDermott (Chairman & CEO) reported a sale of 2,236 shares for $263k on 2026-08-17.
Form 4 · McDermott William R (Chairman & CEO) · $0 code M · 2026-08-17Gina Mastantuono (President and CFO) reported a sale of 858 shares for $101k on 2026-08-17.
Form 4 · Mastantuono Gina (President and CFO) · $0 code M · 2026-08-17Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
The closing price used is 138.43 on the price date 2026-08-27.
Valuation inputs · SEC XBRL + stored EOD closeReported market capitalization is 143,136,620,000 and enterprise value is 146,068,620,000.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score — the argument is shown, not hidden, so you can judge the reasoning yourself.
The evidence shows robust top-line expansion and market reception: fiscal Q2 revenue grew both quarter-over-quarter (~5.8%) and year-over-year (~24%), and independent coverage reports AI-related annual contract value surpassing $1B and a shift of 50% of net new business to non-seat pricing — together these items are strong signals about revenue momentum and product-market acceptance. Market signals are supportive on momentum and correlation metrics (3-month momentum +27.3%, beta 0.64) and passive ownership in major ETFs indicates broad index exposure; TTM net cash from operations of $5.59B is material and strengthens the case that operating cash generation remains healthy despite GAAP swings. The quarter’s margin and operating-income compressions are valid observations, but the combination of rapid revenue growth, AI ACV scale, and reported pricing-model shift provides a plausible contextual explanation (evidence strength: revenue and AI-ACV items = strong; margin/op-income = strong factual disclosure; cash flow = strong). Institutional 13F reductions are factual but dated to the period ended 2026-03-31 and coexist with continued ETF inclusion and recent analyst buy-side coverage, so the net ownership picture is mixed rather than uniformly negative (evidence strength: institutional outflows = moderate; ETF membership and analyst consensus = moderate-to-strong). Filings noting regulatory/DOJ matters are material disclosures (evidence strength: strong) and warrant monitoring, but they do not negate the contemporaneous operating and market signals that jointly support a favorable read based on the provided claims.
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.34
38 surviving claims rest on 16 distinct sources; the heaviest analyst carries 16% of them, and 96% of what the desk raised survived the debate.
The surviving read shows moderate robustness: multiple distinct sources back the claims, but source diversity is limited and a single analyst carries a meaningful share of the load, so individual errors would have outsized effect. The very high internal survival rate means the desk largely kept these claims after debate, which strengthens confidence in their coherence but also suggests the set was not heavily challenged.
Peer context · computed, not argued
12-1 momentum ranks 20th of 25 in Software—Application (as of 2026-08-27).
90-day volatility ranks 11th of 25 in Software—Application (as of 2026-08-27).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment — when the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here — no outside knowledge, no browsing — and each card shows who read it and what it contributed to the score.
15 filings· 2 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data — not retyped or estimated.
Read by Mercer−0.2 to the score
12 documents· 2 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes−1.4 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash−0.6 to the score
3 holdings records· 1 cited
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis−0.3 to the score
8 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
12 filings· 2 cited
Insider filings
Parsed Forms 3/4/5 from EDGAR: named insiders, share counts, prices, and 10b5-1 plan state — stated and inferred flags kept apart.
Read by Talbot−0.8 to the score
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only — it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal — the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
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Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
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