ServiceNow's security and risk franchise crossed $1 billion in annual contract value last year, and CEO Bill McDermott claims it is growing faster than the top cybersecurity companies. The company's cyber solutions were included in 80% of its largest deals, and McDermott stated, "we're in the party now." ServiceNow's "control tower" leverages its proprietary configuration management database to help IT departments resolve issues after threats are contained, complementing sensor-based platforms like Palo Alto Networks. The stock trades at roughly 24 times forward earnings, down from a five-year historical average of 50, potentially offering room to run if the company improves enterprise AI outcomes.
ServiceNow IncCybersecurity business surpassed $1 billion in annual contract value, growing faster than top cybersecurity companies.
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