Key facts
- ServiceNow reported Q1 revenue of $3.77 billion, exceeding estimates.
- Q1 revenue increased by 22.1% year-over-year.
- Institutional investors own 87.18% of ServiceNow's outstanding stock.
- Kentucky Retirement Systems increased its stake by 400% in Q4.
- The consensus analyst rating for ServiceNow is 'Moderate Buy'.
ServiceNow is a cloud computing company that provides a platform for digital workflows, helping businesses automate various enterprise operations. The company's recent Q1 revenue beat and significant increase in institutional ownership signal growing investor confidence in its business model and future growth potential.