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ServiceNow's stock jumps on cloud company's addition to the S&P 500

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Cloud software vendor ServiceNow was added to the S&P 500 on Monday, replacing Celgene, which is being acquired.

to the S&P 500, a move that will likely expand the company's shareholder base to include investors in big index funds.

Since its IPO in 2012, ServiceNow has been on a tear. The stock has climbed more than 1,000% over that stretch, closing on Monday at $266.31, giving the company a market cap of over $50 billion. In its seven years on the public market, it's outperformedServiceNow's entry into the index comes less than a month after the company named ex-SAP chief

 

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