NOW · suggested 4 Oct
ServiceNow sells cloud software that runs the back-office plumbing of large organisations: IT service desks, employee workflows, and an increasing layer of built-in automation and AI agents on top of that workflow data. It sits in the software and SaaS theme. It is liked because it is the highest-quality business on the page and the only one whose valuation has reset below its own historical range.
Where this sits in the cycle
A richly rated software compounder is exactly what a rising ten-year yield (now 5.28%) and a possibly hot CPI on 14 October press on; the risk is a further valuation squeeze, cushioned somewhat by the reset already seen.
The diary
Each entry records the price of the day beside your judgment of it. The figures are captured once and never argue with memory; the words stay yours to rewrite or remove.
NOW · suggested 4 Oct
158,18 USD
+17,7% since suggestion at 134,38 USD
Measured in the same money, the pick is +17,7% against -11,0% for iShares Global Tech Index, the bet to beat, over the same stretch.
Daily closes, the newest refreshed through the trading day.
Today the price sits 14% above its 50-day average and 37% above its 200-day average.