Sustainable Growth Advisers (SGA), in its Q2 2026 investor letter, stated that it has questioned ServiceNow management regarding its recent aggressive acquisition activities and emphasized the company's need for transparency in strategic decisions. ServiceNow management disagreed, asserting that recent transactions were an accidental confluence of multiple acquisitions, not a fundamental change in strategy. SGA, however, pointed out that the lack of timely communication exacerbated investor uncertainty and encouraged ServiceNow to disclose significant strategic decisions more clearly and proactively.