ServiceNow Closes Outstanding 2017 With Strong 4Q; Raising FVE to $170
Narrow-moat ServiceNow reported fourth-quarter results that surpassed our expectations, and the firm’s march toward diversifying its revenue mix resumed after a strong third quarter for IT service management. ServiceNow’s increasing mix of product sales beyond IT service management was a critical component of our decision to upgrade the firm’s moat rating to narrow in December 2016, and the firm has continued to expand its customer relationships. Fifty-eight percent of net new annual contract va...ServiceNow provides enterprise cloud computing services that define, structure, manage and automate digital workflows for global enterprises. The company markets its services to enterprises in a variety of industries, including consumer products, education, financial services, government, health care, information technology (IT) services and technology. The company sells its subscription services through direct sales and, to a lesser extent, through indirect channel sales. The company also provides a portfolio of personnel and other services, both directly and through its network of partners. The company's products include IT service management, IT operations management, IT business management, and security operations.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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