CRM
Salesforce, Inc.
stock NYSE

I'm a dev of 25 years. It's not about the code.
1. Buying SaaS is always cheaper for a business than building your own, hosting, compliance and regulations, data retention, backups, observability, maintenance. Making a CRM is not their core business. And if they're not a software company with developers like you, it makes even less sense.
1a. If you think it's just about the code, why not make a github clone? you can make it with AI much cheaper and win the whole game, right?
2. NOW has all the data and all the workflows and all the integrations with large enterprises. These are extremely sticky. Same for SalesForce where entire organizations built their workflows and processes around it. Exceptionally sticky.
The large enterprise I work for is a top level tech company. We're not ditching SalesForce or ServiceNow or Workday.
I strongly believe the SaaSpacalypse is dramatically overblown. There may be margin compression and they may stay down for a while, but it's my opinion they're not in mortal danger.

Thank you for the detailed feeback.
Once I am out of gold and silver stocks, I really want to deploy all that money into more undervalued stocks with solid dividend growth cagr similar to the ones you mentined AVGO, MSFT, CRM, TGT, PEP, KO, MCO, C, INTU, CLX, etc.
I also want to deploy capital into blue chip O&E stocks like CVX, XOM, TTE, COP, etc. Oil is way too cheap with respect to gold price. It will eventually need to play the catch-up game just like it did in the last gold bull run (2000 to 2011). I am very happy with the performance of the ones I have in the O&S sector.... PBR, RIG, GTE, PEO, BTE, EWZ. I expect RIG and GTE to be 4-6 bagger eventually.

I see no issues with your screening. Lots of strong value picks. I do similar screening all the time. I own TGT, UPS, CUBE, and CRM. I like the odds of each of them improving profitability over the long term although 3 of them are already quite profitable and comfortably cover the dividend.
I don’t like the profitability of HRL so I stay away. Even in the best of times, margins were in the single digits. Compare that to KHC, which needs a turnaround but was very profitable at one time. I wouldn’t personally buy KHC, but I can see a potentially convincing story.
CMCSA is in a dying industry, but there’s no risk to the dividend. The share buybacks are progressing nicely to create a stronger investment case.
I don’t understand financials, so I let SCHD hold my exposure to their dividends.
All this being said, your 8% yield tells me you want income now. I do not. I want income in 20 years, so I buy companies that have profitability growth still to come so that those dividends can compound. I’m sorry to say that will result in very different judgments on the same tickers.
My newest buy was ZTS. Screening also popped up FDS, ACN, and EMN. But I don’t know if any of those fit your yield criteria and I haven’t finished the rest of my due diligence.

I don't understand the problem? If what you're saying is true, maybe Adobe is cheap AF bc of some corruption?
Whatever. Also the same Adobe can buy shares at 260, retiring it's float and exploding EPS.
I actually see value in CRM and now and even msft at this point (although I'm not bezos so I kinda don't have unlimited powder and I say Adobe is best). I guess en fin, if an insider at Costco corruptly marked fillet mignon with their barcodes at 99 cents a pound, I'd just buy it and say a spiritual thank you.

Yes the sustainable non-growth companies of NVDA AMZN MSFT CRM

Thnks for the kind words.
Which ones are you targetting to buy? Let me know about the following...been researching on them for a while. I feel they haven't quite bottomed yet.
INTU, HPQ, PRU, ADP, CRM, DOC, CMCSA, BX, TGT

OP's valuation results are $160 base case; $199 bullish.
CFRA fair value is $167 and M\* is $200 and both services give NOW a 5-star rating. So OP's conclusions are not out of reason.
But it is also useful to compare NOW to other companies that would be alternative investments. I would think that TEAM and CRM would be appropriate. All three face the same threat from AI, and all are significantly down from their highs.

"Domain experts and Non-technical founders can now prototype Minimum Viable Product (MVP) in days using no-code/low-code AI platforms like Lovable, [Bolt.new](http://Bolt.new), or Bubble with AI integrations, cutting engineering needs by 40-60% and enabling rapid iteration without hiring full dev teams."
Do you work in software? I don't know where you're getting your facts from, but "prototype Minimum Viable Product" doesn't tell you anything about the costs of software. A "prototype" can mean anything from a thing that barely hangs together to show a manager as a demo "this is what I've got in mind". I can lash one of those together in not many days. "No, don't put in an invalid zip code or it'll crash".
That's the cheap, easy part of building software. For decades I've been able to point something at a database and it gives me a basic form in minutes. The next thing is all the detailed rules, handling edge cases, dealing with security and performance. Then unit testing it, system testing it, user testing it. A prototype has nothing at risk like production software does.
I'm not even saying these tools aren't valuable, they are. But firstly, they're being massively overhyped like no-one ever talked about MVC, Javascript frameworks or ORMs. Secondly, the likes of Salesforce and Adobe can use exactly the same tools as some 2 man shop can.
And almost no-one wants custom systems if there's something off-the-shelf. The cost per desk of custom solutions is huge. If you've got 20 people and you want to use Hubspot, that's about $300/month. You can get someone to manage your custom solution including all the development and server management for $4000 a year? This stuff runs at such a massive scale than the engineering cost per user is almost nothing.
The software industry is mostly about people building custom solutions. Which might be something from scratch, or it might be something that enhances an existing product for a specific customer needs. Like there are Adobe plugins to do certain effects. There are specialised widgets for Shopify for color picking for say, paint companies. You can use Dynamics CRM, but customise it so that a form on your website feeds into it.

Most of the same arguments apply to big software vendors too, if only slightly less capital intensive. There always have been cheaper alternatives to MSFT, INTU, CRM products etc. yet they have commanding market shares that keep growing. Now we're to believe that a garage vibe coder will replace them overnight (not to mention that these companies have armies of actual AI experts already in place to prevent that). Look into Ben Reitzes of Melius, he is the coordinating lynch pin behind the HF software short.Also the clown behind the GOOG short of last year.

BWXT/KEYS/KTOS: Monday
CAVA/WDAY/TEM: Tuesday
NVDA/TTD/CRM/SNOW: Wednesday
CRWV/RKLB/IONQ/SNPS: Thursday
Ferrari obtained: Friday

Nope, buy $NOW and $NFLX, definitely 100% not $CRM.

Difference with PayPal is there were already better products in market.
Apple and Google wallets are far superior from a consumer perspective, and stripe just destroying everyone on integration side.
Things like NET, HUBS, CRM selling off cause one day somebody might make something better…isn’t that the risk for literally every listed company?

If google's economy is going to take material impact if countries goes onto make sovereign tech.... Then that is primary reason why they are criticising. And they will also fight it.
For India, hell yes... we are too late and most of our IT guys are servicemen for gora companies. That's also a reason why no one developed anything. Now govt and some entrepreneurs have woken up to this... So start off now.. We cat sit on the sides as a 4 Tn$ econ when the world is rapidly advancing. Look at China they made Deepseek. Balance needs to be found. At one end we can't have too much govt into sector so it can scale and flourish and on the other side sector needs govt capital and support.... Defense tech and sovereign projects are good... Especially more so if its to combat others' tech rather than learning their template and giving a CRM or tax software for govt. So yes definitely India should push....Every1 is doing so... Might even collab with others.. cause its a race all along and winner takes all.

I'm a dev of 25 years. It's not about the code.
1. Buying SaaS is always cheaper for a business than building your own, hosting, compliance and regulations, data retention, backups, observability, maintenance. Making a CRM is not their core business. And if they're not a software company with developers like you, it makes even less sense.
1a. If you think it's just about the code, why not make a github clone? you can make it with AI much cheaper and win the whole game, right?
2. NOW has all the data and all the workflows and all the integrations with large enterprises. These are extremely sticky. Same for SalesForce where entire organizations built their workflows and processes around it. Exceptionally sticky.
The large enterprise I work for is a top level tech company. We're not ditching SalesForce or ServiceNow or Workday.
I strongly believe the SaaSpacalypse is dramatically overblown. There may be margin compression and they may stay down for a while, but it's my opinion they're not in mortal danger.

Thank you for the detailed feeback.
Once I am out of gold and silver stocks, I really want to deploy all that money into more undervalued stocks with solid dividend growth cagr similar to the ones you mentined AVGO, MSFT, CRM, TGT, PEP, KO, MCO, C, INTU, CLX, etc.
I also want to deploy capital into blue chip O&E stocks like CVX, XOM, TTE, COP, etc. Oil is way too cheap with respect to gold price. It will eventually need to play the catch-up game just like it did in the last gold bull run (2000 to 2011). I am very happy with the performance of the ones I have in the O&S sector.... PBR, RIG, GTE, PEO, BTE, EWZ. I expect RIG and GTE to be 4-6 bagger eventually.

I see no issues with your screening. Lots of strong value picks. I do similar screening all the time. I own TGT, UPS, CUBE, and CRM. I like the odds of each of them improving profitability over the long term although 3 of them are already quite profitable and comfortably cover the dividend.
I don’t like the profitability of HRL so I stay away. Even in the best of times, margins were in the single digits. Compare that to KHC, which needs a turnaround but was very profitable at one time. I wouldn’t personally buy KHC, but I can see a potentially convincing story.
CMCSA is in a dying industry, but there’s no risk to the dividend. The share buybacks are progressing nicely to create a stronger investment case.
I don’t understand financials, so I let SCHD hold my exposure to their dividends.
All this being said, your 8% yield tells me you want income now. I do not. I want income in 20 years, so I buy companies that have profitability growth still to come so that those dividends can compound. I’m sorry to say that will result in very different judgments on the same tickers.
My newest buy was ZTS. Screening also popped up FDS, ACN, and EMN. But I don’t know if any of those fit your yield criteria and I haven’t finished the rest of my due diligence.

I don't understand the problem? If what you're saying is true, maybe Adobe is cheap AF bc of some corruption?
Whatever. Also the same Adobe can buy shares at 260, retiring it's float and exploding EPS.
I actually see value in CRM and now and even msft at this point (although I'm not bezos so I kinda don't have unlimited powder and I say Adobe is best). I guess en fin, if an insider at Costco corruptly marked fillet mignon with their barcodes at 99 cents a pound, I'd just buy it and say a spiritual thank you.

Yes the sustainable non-growth companies of NVDA AMZN MSFT CRM

Thnks for the kind words.
Which ones are you targetting to buy? Let me know about the following...been researching on them for a while. I feel they haven't quite bottomed yet.
INTU, HPQ, PRU, ADP, CRM, DOC, CMCSA, BX, TGT

OP's valuation results are $160 base case; $199 bullish.
CFRA fair value is $167 and M\* is $200 and both services give NOW a 5-star rating. So OP's conclusions are not out of reason.
But it is also useful to compare NOW to other companies that would be alternative investments. I would think that TEAM and CRM would be appropriate. All three face the same threat from AI, and all are significantly down from their highs.