Thrivent Financial for Lutherans Has $293.73 Million Position in ServiceNow, Inc. (NYSE:NOW)

Thrivent Financial for Lutherans increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 0.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 328,411 shares of the information technology services provider’s stock after acquiring an additional 2,778 shares during the quarter. ServiceNow comprises about 0.6% of Thrivent Financial for Lutherans’ holdings, making the stock its 17th largest position. Thrivent Financial for Lutherans’ holdings in ServiceNow were worth $293,728,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in NOW. Claro Advisors LLC lifted its holdings in shares of ServiceNow by 31.8% during the third quarter. Claro Advisors LLC now owns 1,195 shares of the information technology services provider’s stock worth $1,069,000 after purchasing an additional 288 shares during the period. Concord Asset Management LLC VA raised its position in ServiceNow by 12.4% during the 3rd quarter. Concord Asset Management LLC VA now owns 1,371 shares of the information technology services provider’s stock worth $1,226,000 after purchasing an additional 151 shares during the last quarter. Atlanta Consulting Group Advisors LLC acquired a new position in ServiceNow during the 3rd quarter worth about $384,000. Spinnaker Investment Group LLC grew its position in shares of ServiceNow by 4.7% in the 3rd quarter. Spinnaker Investment Group LLC now owns 309 shares of the information technology services provider’s stock valued at $276,000 after buying an additional 14 shares during the last quarter. Finally, Accredited Investors Inc. acquired a new stake in shares of ServiceNow in the third quarter valued at about $234,000. 87.18% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. The trade was a 33.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total value of $69,187.14. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,173,173.83. The trade was a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,325 shares of company stock valued at $5,024,928 in the last three months. 0.25% of the stock is currently owned by insiders.

ServiceNow Trading Down 2.7 %

NOW opened at $1,011.39 on Friday. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,061.66. The firm has a market capitalization of $208.35 billion, a PE ratio of 157.29, a P/E/G ratio of 5.80 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The company’s 50-day moving average is $932.47 and its 200 day moving average is $824.15.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.21 earnings per share. As a group, research analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Royal Bank of Canada lifted their price objective on ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Mizuho boosted their price target on shares of ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. StockNews.com raised shares of ServiceNow from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Stifel Nicolaus lifted their target price on shares of ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. upped their price target on shares of ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $974.04.

ServiceNow Company 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.