ServiceNow stock dubbed top software pick at Macquarie

Macquarie analyst Sarah Hindlian-Bowler dubbed ServiceNow Inc.’s stock NOW, -6.18% her top pick in software as she took over coverage of some names in the sector. “One of the biggest and least appreciated field actions we have seen working with ServiceNow and ServiceNow deployments is the impressive growth the company is seeing in moving from its IT cornerstone, where the company has a leading brand, to becoming an enterprise-wide C-Suite tool much like Salesforce is today,” she wrote. Hindlian-Bowler said that Chief Executive Bill McDermott’s “relationships, expertise and industry clout are helping to elevate the company and allow for it to expand its workflows into new areas of the enterprise beyond IT.” Macquarie also has outperform ratings on shares of nCino Inc. NCNO, -6.88%, Salesforce Inc. CRM, -6.14%, and HubSpot Inc. HUBS, -9.17%.

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