Why ServiceNow Stock Topped the Market on Thursday
The company is deepening its relationship with a systems integrator in India.
Overview
Investors clearly felt some urgency to own ServiceNow (NYSE: NOW) now, and not later, on Thursday. They were reacting to the enterprise software developer's announcement that it had expanded its collaboration with an important overseas business partner. The company's stock closed 2% higher, easily beating the S&P 500 index's 0.1% bump.
That morning, ServiceNow announced it had broadened the scope of its partnership with India-based peer Tech Mahindra. This is in a hot area of tech, too, specifically artificial intelligence (AI). The two companies will offer services to move clients from experimental AI pilot projects to full-scale operational deployments within their businesses.
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Originally published at www.fool.com.