ServiceNow, Inc. (NYSE:NOW) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 7.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 303,781 shares of the information technology services provider's stock after selling 24,630 shares during the period. ServiceNow makes up about 0.6% of Thrivent Financial for Lutherans' portfolio, making the stock its 14th largest position. Thrivent Financial for Lutherans owned approximately 0.15% of ServiceNow worth $321,997,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Atala Financial Inc acquired a new stake in ServiceNow in the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA acquired a new stake in ServiceNow in the 4th quarter worth approximately $32,000. Noble Wealth Management PBC acquired a new stake in ServiceNow in the 4th quarter worth approximately $34,000. Truvestments Capital LLC acquired a new stake in ServiceNow during the 3rd quarter valued at approximately $30,000. Finally, FPC Investment Advisory Inc. lifted its stake in ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after acquiring an additional 29 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In related news, CFO Gina Mastantuono sold 4,442 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the sale, the chief financial officer now directly owns 11,126 shares in the company, valued at approximately $10,733,252.20. This represents a 28.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 455 shares of ServiceNow stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the transaction, the insider now owns 3,027 shares of the company's stock, valued at $3,204,200.58. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,351 shares of company stock valued at $20,050,076. 0.25% of the stock is currently owned by corporate insiders.

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ServiceNow Trading Up 0.5 %

Shares of NOW stock traded up $3.80 on Friday, hitting $827.92. 2,904,241 shares of the stock traded hands, compared to its average volume of 1,349,511. The firm's 50-day moving average price is $971.31 and its two-hundred day moving average price is $983.30. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market capitalization of $170.55 billion, a PE ratio of 121.22, a PEG ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. As a group, analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its Board of Directors has initiated a share repurchase program on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NOW. William Blair restated an "outperform" rating on shares of ServiceNow in a research note on Friday, March 7th. Royal Bank of Canada set a $986.00 price objective on shares of ServiceNow in a research note on Tuesday, March 11th. KeyCorp cut shares of ServiceNow from an "overweight" rating to a "sector weight" rating in a research note on Friday, December 13th. Piper Sandler lifted their price objective on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Finally, JMP Securities restated a "market outperform" rating and set a $1,300.00 price objective on shares of ServiceNow in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,100.31.

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.