Let's dig into the relative performance of ServiceNow (NYSE:NOW) and its peers as we unravel the now-completed Q4 automation software earnings season.

The whole purpose of software is to automate tasks to increase productivity. Today, innovative new software techniques, often involving AI and machine learning, are finally allowing automation that has graduated from simple one- or two-step workflows to more complex processes integral to enterprises. The result is surging demand for modern automation software.

The 6 automation software stocks we track reported a strong Q4; on average, revenues beat analyst consensus estimates by 4.5% while next quarter's revenue guidance was 1.8% below consensus. Stocks have been under pressure as inflation (despite slowing) makes their long-dated profits less valuable, but automation software stocks held their ground better than others, with the share prices up 7.1% on average since the previous earnings results.

ServiceNow (NYSE:NOW)

Founded by Fred Luddy, who wrote the code for the company's initial prototype on a flight from San Francisco to London, ServiceNow (NYSE:NOW) offers a software-as-a-service platform that helps companies become more efficient by allowing them to automate workflows across IT, HR, and customer service.

ServiceNow reported revenues of $2.44 billion, up 25.6% year on year, topping analyst expectations by 1.5%. It was an impressive quarter for the company, with a decent beat of analysts' revenue estimates and accelerating growth in large customers.

“ServiceNow closed out the year with another outstanding quarter,” said ServiceNow Chairman and CEO Bill McDermott.

The stock is up 0.5% since the results and currently trades at $768.7.

Read why we think that ServiceNow is one of the best automation software stocks, our full report is free.

Best Q4: Pegasystems (NASDAQ:PEGA)

Founded by Alan Trefler in 1983, Pegasystems (NASDAQ:PEGA) offers a software-as-a-service platform to automate and optimize workflows in customer service and engagement.

Pegasystems reported revenues of $474.2 million, up 19.6% year on year, outperforming analyst expectations by 14.2%. It was an incredible quarter for the company, with an impressive beat of analysts' billings estimates and a significant improvement in its gross margin.

Pegasystems scored the biggest analyst estimates beat among its peers. The stock is up 23.5% since the results and currently trades at $62.65.

Is now the time to buy Pegasystems? Access our full analysis of the earnings results here, it's free.

Weakest Q4: Jamf (NASDAQ:JAMF)

Founded in 2002 by Zach Halmstad and Chip Pearson, right around the time when Apple began to dominate the personal computing market, Jamf (NASDAQ:JAMF) provides software for companies to manage Apple devices such as Macs, iPads, and iPhones.

Jamf reported revenues of $150.6 million, up 15.6% year on year, exceeding analyst expectations by 1.4%. It was a weak quarter for the company, with full-year revenue guidance missing analysts' expectations.

Jamf had the weakest full-year guidance update in the group. The stock is down 9.7% since the results and currently trades at $17.99.

Read our full analysis of Jamf's results here.

UiPath (NYSE:PATH)

Started in 2005 in Romania as a tech outsourcing company, UiPath (NYSE:PATH) makes software that helps companies automate repetitive computer tasks.

UiPath reported revenues of $405.3 million, up 31.3% year on year, surpassing analyst expectations by 5.6%. It was a solid quarter for the company. UiPath soared past analysts' estimates across all key metrics, including revenue, gross margin, EPS, and free cash flow. Its net retention rate and full-year 2024 annualized recurring revenue guidance of $1.73 billion also came in better than expected.

UiPath achieved the fastest revenue growth and highest full-year guidance raise among its peers. The stock is down 9.1% since the results and currently trades at $22.21.

Read our full, actionable report on UiPath here, it's free.

Appian (NASDAQ:APPN)

Founded by Matt Calkins and his three friends out of an apartment in Northern Virginia, Appian (NASDAQ:APPN) sells a software platform that lets its users build applications without using much code, allowing them to create new software more quickly.

Appian reported revenues of $145.3 million, up 15.5% year on year, surpassing analyst expectations by 3.2%. It was a strong quarter for the company, with a solid beat of analysts' billings estimates and a significant improvement in its gross margin.

The stock is up 14.7% since the results and currently trades at $38.17.

Read our full, actionable report on Appian here, it's free.

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