Thrivent Financial for Lutherans Acquires 5,561 Shares of ServiceNow, Inc. (NYSE:NOW)

Thrivent Financial for Lutherans lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 1.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 325,633 shares of the information technology services provider’s stock after buying an additional 5,561 shares during the period. ServiceNow comprises approximately 0.5% of Thrivent Financial for Lutherans’ investment portfolio, making the stock its 18th biggest position. Thrivent Financial for Lutherans owned approximately 0.16% of ServiceNow worth $256,164,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Creekmur Asset Management LLC bought a new position in shares of ServiceNow in the 1st quarter worth about $25,000. Versant Capital Management Inc grew its holdings in shares of ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 28 shares in the last quarter. EntryPoint Capital LLC grew its stake in ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares during the period. University of Texas Texas AM Investment Managment Co. purchased a new stake in ServiceNow during the fourth quarter worth about $29,000. Finally, Ridgewood Investments LLC purchased a new stake in shares of ServiceNow during the 2nd quarter worth approximately $32,000. 87.18% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the transaction, the insider now owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the transaction, the insider now directly owns 4,019 shares in the company, valued at approximately $3,319,372.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the sale, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at $9,479,250. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock worth $5,608,936 in the last three months. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. BMO Capital Markets lifted their price target on ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Royal Bank of Canada upped their price objective on shares of ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Guggenheim restated a “sell” rating and set a $640.00 price target on shares of ServiceNow in a research report on Monday, July 8th. Finally, Truist Financial boosted their price objective on shares of ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $855.44.

ServiceNow Price Performance

NYSE NOW opened at $937.36 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The business’s fifty day moving average is $822.56 and its 200 day moving average is $771.23. The company has a market capitalization of $192.16 billion, a PE ratio of 100.25, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $940.12.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same period in the prior year, the firm posted $0.77 EPS. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. Sell-side analysts predict that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

ServiceNow Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.