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NOW

ServiceNow, Inc.

Technology · $134.0B market cap

Verdict

Share price

$134.38

close of Oct 3, 2026

Fair value

$27.04

Sticker Price

Payback Price

$10.82

buy price

Overpriced

NOW is Overpriced: at $134.38 it trades 397% above its fair value of $27.04. Its buy price (Payback Price) is $10.82, 92% below today's price. Business quality is strong: 4 of 5 key numbers clear the 10% bar.

How we valued it

Buffett Normalized. A profitable, growing business, so we project its earnings 10 years ahead and work out what that is worth today.

Business quality

4 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth30.4% a year✓
Equity per share growth34.9% a year✓
Sales growth28.2% a year✓
Free cash flow growth32.2% a year✓
Return on invested capital8.6%✗

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Superinvestors

6 of the investors we track hold NOW. In Q2 2026, 1 added and 2 trimmed. Who we track

Polen Capital Management

Polen Capital Management · as of Q2 2026

$533.2M

5,370,172 shares

Chuck Akre

Akre Capital Management · as of Q2 2026

$123.7M

1,246,099 shares

Chase Coleman

Tiger Global Management · as of Q2 2026

$86.7M

873,485 shares

Vulcan Value Partners

Vulcan Value Partners · as of Q2 2026

$57.1M

574,811 shares

Torray Funds

Torray Funds · as of Q2 2026

$5.1M

51,543 shares

Show all 6 holders

Hillman Capital Management

Hillman Capital Management · as of Q2 2026

$339K

3,415 shares

Moves in Q2 2026

Added: Chuck Akre

Trimmed: Polen Capital Management, Chase Coleman

Insider activity

Since Jun 15, 2026: no open-market purchases, 4 sales worth $1.9M and 61 other filings (stock awards, tax withholding and similar). Why purchases matter

Sales

Fipps Paul

President, Global Customer Ops · 2026-08-31

Sold

$301K

Canney Jacqueline P

Chief People & AI Enblmt. Off. · 2026-08-28

Sold

$1.1M

Chamberlain Paul Edward

director · 2026-08-27

Sold

$366K

Chamberlain Paul Edward

director · 2026-08-13

Sold

$188K

Other filings

Mastantuono Gina

President and CFO · 2026-08-17

Tax withholding

$101K

Mastantuono Gina

President and CFO · 2026-08-17

Option exercise

1,595 shares

Fontaine Danielle

Principal Accounting Officer · 2026-08-17

Tax withholding

$20K

Fontaine Danielle

Principal Accounting Officer · 2026-08-17

Option exercise

485 shares

Fipps Paul

President, Global Customer Ops · 2026-08-17

Tax withholding

$16K

Show all 61 other filings

Fipps Paul

President, Global Customer Ops · 2026-08-17

Option exercise

340 shares

Fipps Paul

President, Global Customer Ops · 2026-08-17

Tax withholding

$14K

Fipps Paul

President, Global Customer Ops · 2026-08-17

Option exercise

300 shares

Canney Jacqueline P

Chief People & AI Enblmt. Off. · 2026-08-17

Tax withholding

$58K

Canney Jacqueline P

Chief People & AI Enblmt. Off. · 2026-08-17

Option exercise

970 shares

McDermott William R

Chairman & CEO · 2026-08-17

Tax withholding

$263K

McDermott William R

Chairman & CEO · 2026-08-17

Option exercise

4,160 shares

Fontaine Danielle

Principal Accounting Officer · 2026-08-14

Tax withholding

$10K

Fontaine Danielle

Principal Accounting Officer · 2026-08-14

Option exercise

235 shares

Fontaine Danielle

Principal Accounting Officer · 2026-08-14

Tax withholding

$32K

Fontaine Danielle

Principal Accounting Officer · 2026-08-14

Option exercise

740 shares

Mastantuono Gina

President and CFO · 2026-08-14

Tax withholding

$157K

Mastantuono Gina

President and CFO · 2026-08-14

Option exercise

2,355 shares

Mastantuono Gina

President and CFO · 2026-08-14

Tax withholding

$373K

Mastantuono Gina

President and CFO · 2026-08-14

Option exercise

5,602 shares

Zavery Amit

President, CPO and COO · 2026-08-14

Tax withholding

$209K

Zavery Amit

President, CPO and COO · 2026-08-14

Option exercise

3,135 shares

Zavery Amit

President, CPO and COO · 2026-08-14

Tax withholding

$479K

Zavery Amit

President, CPO and COO · 2026-08-14

Option exercise

7,180 shares

Canney Jacqueline P

Chief People & AI Enblmt. Off. · 2026-08-14

Tax withholding

$94K

Canney Jacqueline P

Chief People & AI Enblmt. Off. · 2026-08-14

Option exercise

1,490 shares

Canney Jacqueline P

Chief People & AI Enblmt. Off. · 2026-08-14

Tax withholding

$226K

Canney Jacqueline P

Chief People & AI Enblmt. Off. · 2026-08-14

Option exercise

3,566 shares

Nowbar Hossein

Pres. & Chief Legal Officer · 2026-08-14

Tax withholding

$140K

Nowbar Hossein

Pres. & Chief Legal Officer · 2026-08-14

Tax withholding

$108K

Nowbar Hossein

Pres. & Chief Legal Officer · 2026-08-14

Option exercise

2,209 shares

Nowbar Hossein

Pres. & Chief Legal Officer · 2026-08-14

Option exercise

2,857 shares

Fipps Paul

President, Global Customer Ops · 2026-08-14

Tax withholding

$47K

Fipps Paul

President, Global Customer Ops · 2026-08-14

Option exercise

940 shares

Fipps Paul

President, Global Customer Ops · 2026-08-14

Tax withholding

$55K

Fipps Paul

President, Global Customer Ops · 2026-08-14

Option exercise

1,110 shares

Fipps Paul

President, Global Customer Ops · 2026-08-14

Tax withholding

$277K

Fipps Paul

President, Global Customer Ops · 2026-08-14

Option exercise

5,602 shares

McDermott William R

Chairman & CEO · 2026-08-14

Tax withholding

$418K

McDermott William R

Chairman & CEO · 2026-08-14

Option exercise

6,275 shares

McDermott William R

Chairman & CEO · 2026-08-14

Tax withholding

$592K

McDermott William R

Chairman & CEO · 2026-08-14

Option exercise

8,877 shares

Fontaine Danielle

Principal Accounting Officer · 2026-08-07

Tax withholding

$13K

Fontaine Danielle

Principal Accounting Officer · 2026-08-07

Option exercise

305 shares

Canney Jacqueline P

Chief People & AI Enblmt. Off. · 2026-08-07

Tax withholding

$168K

Canney Jacqueline P

Chief People & AI Enblmt. Off. · 2026-08-07

Option exercise

2,630 shares

McDermott William R

Chairman & CEO · 2026-08-07

Tax withholding

$588K

McDermott William R

Chairman & CEO · 2026-08-07

Option exercise

8,765 shares

Zavery Amit

President, CPO and COO · 2026-08-07

Tax withholding

$671K

Zavery Amit

President, CPO and COO · 2026-08-07

Option exercise

9,990 shares

Mastantuono Gina

President and CFO · 2026-08-07

Tax withholding

$265K

Mastantuono Gina

President and CFO · 2026-08-07

Option exercise

3,945 shares

Fipps Paul

President, Global Customer Ops · 2026-08-07

Tax withholding

$206K

Fipps Paul

President, Global Customer Ops · 2026-08-07

Tax withholding

$45K

Fipps Paul

President, Global Customer Ops · 2026-08-07

Tax withholding

$16K

Fipps Paul

President, Global Customer Ops · 2026-08-07

Tax withholding

$4K

Fipps Paul

President, Global Customer Ops · 2026-08-07

Option exercise

75 shares

Fipps Paul

President, Global Customer Ops · 2026-08-07

Option exercise

330 shares

Fipps Paul

President, Global Customer Ops · 2026-08-07

Option exercise

910 shares

Fipps Paul

President, Global Customer Ops · 2026-08-07

Option exercise

4,120 shares

Yuan Eric S.

director · 2026-06-15

Award

2,747 shares

About ServiceNow, Inc.

ServiceNow, Inc. specializes in delivering cloud-based solutions designed to streamline and automate critical business services for organizations across the globe. Its flagship "Now Platform" serves as the foundation, leveraging technologies such as workflow automation, artificial intelligence (AI), machine learning (ML), and robotic process automation (RPA). This platform also incorporates robust features like…

Software - Application

Fair value and Payback Price are estimates from the company's reported financials, not investment advice. Prices as of the close of Oct 3, 2026. How the Payback Price works