Thrivent Financial for Lutherans Grows Holdings in ServiceNow, Inc. $NOW

Key Points

• Thrivent Financial for Lutherans dramatically increased its ServiceNow stake by 372.8% in the fourth quarter, ending with 1,495,706 shares worth about $229.1 million.
• ServiceNow reported Q4 earnings that matched estimates at $0.97 per share and revenue of $3.77 billion, while sales rose 22.1% year over year.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average price target of $144.71, even as insiders recently sold shares and the stock traded well below its 52-week high.

Thrivent Financial for Lutherans increased its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 372.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,495,706 shares of the information technology services provider's stock after acquiring an additional 1,179,387 shares during the period. Thrivent Financial for Lutherans owned approximately 0.14% of ServiceNow worth $229,137,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Magnus Financial Group LLC boosted its position in shares of ServiceNow by 1.9% in the third quarter. Magnus Financial Group LLC now owns 589 shares of the information technology services provider's stock worth $542,000 after acquiring an additional 11 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its position in shares of ServiceNow by 2.5% in the third quarter. Avidian Wealth Enterprises LLC now owns 453 shares of the information technology services provider's stock worth $417,000 after acquiring an additional 11 shares during the last quarter. Meridian Wealth Advisors LLC boosted its position in shares of ServiceNow by 2.2% in the third quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider's stock worth $508,000 after acquiring an additional 12 shares during the last quarter. Valley Brook Capital Group Inc. boosted its position in shares of ServiceNow by 2.1% in the third quarter. Valley Brook Capital Group Inc. now owns 634 shares of the information technology services provider's stock worth $583,000 after acquiring an additional 13 shares during the last quarter. Finally, Catalyst Financial Partners LLC boosted its position in shares of ServiceNow by 1.0% in the third quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider's stock worth $1,169,000 after acquiring an additional 13 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 3,696 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $101.77, for a total value of $376,141.92. Following the completion of the sale, the insider owned 8,061 shares of the company's stock, valued at $820,367.97. This trade represents a 31.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the sale, the insider directly owned 29,531 shares of the company's stock, valued at $2,645,977.60. This trade represents a 23.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 22,415 shares of company stock valued at $2,210,933 in the last ninety days. 0.34% of the stock is owned by corporate insiders.

ServiceNow Stock Up 4.0%

Shares of NYSE:NOW opened at $90.56 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $211.48. The company has a 50 day moving average of $100.89 and a two-hundred day moving average of $129.31. The company has a market capitalization of $93.37 billion, a price-to-earnings ratio of 53.97, a price-to-earnings-growth ratio of 1.54 and a beta of 0.82.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter last year, the company earned $0.81 earnings per share. ServiceNow's revenue for the quarter was up 22.1% on a year-over-year basis. As a group, analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Citizens Jmp reissued a "market outperform" rating and issued a $157.00 target price on shares of ServiceNow in a research report on Tuesday, May 5th. Wolfe Research set a $125.00 price target on shares of ServiceNow in a report on Thursday, April 23rd. Needham & Company LLC restated a "buy" rating and issued a $115.00 price target on shares of ServiceNow in a report on Tuesday, May 5th. Truist Financial cut their price target on shares of ServiceNow from $125.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, April 23rd. Finally, BTIG Research restated a "buy" rating and issued a $150.00 price target on shares of ServiceNow in a report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $144.71.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its partnership with Boomi to improve real-time data activation across enterprise systems, strengthening its positioning as a platform for agentic AI and workflow automation. ServiceNow and Boomi partner for data activation
• Positive Sentiment: FedEx is deepening its ServiceNow relationship with a procurement integration, a sign that major enterprise customers are broadening use of the platform and could drive more recurring revenue. FedEx advances ServiceNow partnership with procurement integration
• Positive Sentiment: ServiceNow and Accenture launched an engineering program to scale agentic AI for enterprise clients, which supports the company’s AI growth narrative and suggests more commercialization of its platform. ServiceNow (NOW), Accenture Launch Engineering Program to Scale Agentic AI for Enterprises
• Positive Sentiment: Several articles highlighted ServiceNow as an attractive AI/software name, with commentary suggesting the recent sell-off may be overdone and that investors are focusing on the stock’s long-term AI upside. 1 Incredible Artificial Intelligence (AI) Stock to Buy After Its Post-Earnings Sell-Off
• Neutral Sentiment: Analyst and media coverage remains mixed but generally constructive, with pieces debating whether the market is underestimating the impact of AI on ServiceNow’s business. ServiceNow: The Market Is Misunderstanding The Effects Of AI
• Negative Sentiment: A bearish options trade and commentary about further downside show that some traders still expect weakness, reflecting lingering pressure on the stock after its post-earnings decline. See ServiceNow Stock Heading Lower? This Trade Profits From Further Downside.
• Negative Sentiment: An insider sale by Paul Fipps was disclosed, which can add to short-term caution even though it was small and made under a pre-arranged trading plan. SEC insider filing for Paul Fipps

About ServiceNow

ServiceNow NYSE: NOW is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company's flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.

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