ServiceNow, Inc. (NYSE: NOW) ended Friday’s session with a modest decline and then traded a touch lower in extended hours—while the broader tech complex took heavier heat on renewed “AI bubble” nerves. The bigger storyline for NOW heading into next week isn’t a single headline from Friday night; it’s the calendar: ServiceNow’s 5-for-1 stock split is days away, and that can create real-world friction (and occasional volatility) for investors, options traders, and anyone with open orders.
After the bell (Dec. 12, 2025): NOW closed at about $865.17, down roughly 0.27%, then slipped to around $864.25 in after-hours trading (as of 7:48 p.m. ET). Friday’s range ran from roughly $857.91 to $874.63. [1]
Important date note: U.S. stock markets do not have a regular session on Saturday, Dec. 13, 2025. The next regular NYSE/Nasdaq open is Monday, Dec. 15, 2025.
What happened to ServiceNow stock on Dec. 12 (and why the move was relatively muted)
ServiceNow’s after-hours drift looked more like a “market tape echo” than a company-specific repricing. On Friday, major U.S. indexes finished lower, with tech leading the downside as investors reassessed AI-linked growth trades and reacted to rising Treasury yields. [2]
Reuters’ late-Friday wrap highlighted that technology shares were the weakest major S&P sector, and that broader anxiety around AI-related spending and margins—fueled by developments at other large tech names—kept pressure on the group. [3]
That matters for ServiceNow because NOW often trades as part of the “high-quality enterprise software / AI productivity” basket. When investors get cautious on the AI theme, even fundamentally steady operators can wobble simply due to sector positioning and risk appetite.
The biggest near-term catalyst: ServiceNow’s 5-for-1 stock split timeline
ServiceNow shareholders approved a 5-for-1 split earlier this month. The company said shareholders of record as of Dec. 16, 2025 will receive four additional shares per share held, with distribution expected after the market close on or about Dec. 17, 2025. Split-adjusted trading is expected to begin Dec. 18, 2025. [4]
Why this matters before the next open
Stock splits are “cosmetic” in valuation terms—your proportional ownership doesn’t change—but they can still affect trading behavior:
- Price psychology and liquidity: A lower post-split share price can broaden perceived affordability (especially for smaller accounts), sometimes increasing activity.
- Order hygiene: Brokers typically adjust open orders, but not always seamlessly. Investors with resting limit orders may want to double-check them as the split date approaches.
- Options mechanics: The Options Clearing Corporation (OCC) issued guidance indicating ServiceNow options will be adjusted effective Dec. 18, 2025, with strikes divided by 5 (via a strike divisor) and contract terms updated for the split event. [5]
A practical translation: if you’re trading NOW options into the split, confirm how your brokerage displays adjusted strikes and series so you’re not accidentally trading the “right option, wrong mental model.”
Dec. 12 news that kept ServiceNow in the conversation
While ServiceNow itself didn’t drop a major corporate filing late Friday, several Dec. 12 items helped shape the narrative investors will carry into the next session.
1) Veza acquisition strategy remains a key “AI security” pillar
ServiceNow has said it intends to acquire Veza, an identity security company, to extend ServiceNow’s security portfolio deeper into identity governance—especially relevant as enterprises deploy more autonomous and agentic AI systems. Veza’s press release describes its “Access Graph” approach mapping access relationships across human, machine, and AI identities, and notes Veza serves nearly 150 enterprise customers with roughly 230 employees. [6]
Financial terms weren’t disclosed in the Veza announcement itself, but a Dec. 12 analysis piece characterized the deal as more than $1 billion, underscoring how serious ServiceNow is about building an identity layer around AI agents at enterprise scale. [7]
Why investors care: identity and permissions are quickly becoming the “seatbelt problem” for enterprise AI. If ServiceNow can embed governance directly into workflows, it strengthens platform stickiness and expands its relevance beyond IT service management into security and risk decisioning.
2) Ecosystem integration: Keeper Security launches a ServiceNow integration (Dec. 12)
Keeper Security announced a new integration with ServiceNow IT Service Management (ITSM) and ServiceNow’s Security Incident Response (SIR) module aimed at piping security alerts into ServiceNow workflows for faster investigation and response. [8]
This kind of integration rarely moves a mega-cap stock overnight, but it reinforces a long-running bull case for ServiceNow: the platform’s gravity increases as more security and IT tooling routes operational work through ServiceNow.
Wall Street forecasts: what analysts are modeling into NOW
Even with 2025 volatility, the Street’s long-term stance on ServiceNow remains broadly constructive.
- MarketWatch-listed analyst data showed an average target price around $1,152 with dozens of analyst ratings tracked. [9]
- MarketBeat’s compilation showed an average target price around $1,149.67, with a wide range between a high target and a low target—typical for premium-growth software where valuation assumptions (growth, margins, and rate sensitivity) drive big model differences. [10]
Split-adjust the mental math
Because the split is 5-for-1, any pre-split price targets and per-share metrics will eventually be divided by five in the way they’re displayed (even though underlying value assumptions are unchanged). In other words, a ~$1,150 target becomes roughly ~$230 post-split—same destination, different unit system.
The macro backdrop heading into the next session: AI sentiment and rates are the real boss fight
Dec. 12’s market action was shaped less by single-stock fundamentals and more by a familiar duo: AI trade confidence and interest-rate expectations.
Reuters reported that tech shares fell sharply on Friday as investors remained wary about AI-related bets, while U.S. Treasury yields jumped and the dollar edged higher. [11]
Other coverage framed the moment as a rotation away from Big Tech/AI concentration and toward more cyclical exposure—potentially influenced by the next wave of economic data (some of which has been delayed) and shifting policy expectations. [12]
Investopedia’s “before the open” briefing also flagged persistent AI-bubble concern in tech and highlighted how single-company AI commentary can ripple through the entire sector—exactly the kind of tape-level dynamic that can tug on NOW even without a ServiceNow-specific headline. [13]
What to know before the next market open for ServiceNow (NOW)
Since Saturday isn’t a trading day, here’s the checklist that matters before Monday’s open (Dec. 15):
Split logistics are approaching fast. With the record date (Dec. 16) and distribution timing (Dec. 17 after close) coming up, expect more investor Q&A—and potentially more short-term positioning—from traders who treat splits as catalysts. [14]
Expect “AI basket” volatility to continue. If rates keep rising or AI spending narratives wobble, high-multiple software can feel it first, even when the company’s own fundamentals haven’t changed. [15]
Watch the calendar for the next earnings waypoint. MarketBeat’s calendar data points to an estimated next earnings date in early February 2026—meaning the market has a window where macro + positioning can dominate the tape more than fresh fundamentals. [16]
Bottom line
ServiceNow stock finished Dec. 12 only slightly lower and stayed calm in after-hours trading—especially compared with the broader tech selloff. [17] The more actionable “know-before-you-trade” issue isn’t a surprise headline from Friday night; it’s operational: a major stock split is imminent, and both equity and options holders should expect split-adjusted pricing, strikes, and account displays to shift over the coming week. [18]
For longer-horizon investors, the narrative stays intact: ServiceNow is positioning itself as an orchestration layer for enterprise workflows and governance—especially around AI agents—while the market continues to debate how much to pay for that future in a higher-rate world. [19]
References
1. www.marketbeat.com, 2. www.reuters.com, 3. www.reuters.com, 4. newsroom.servicenow.com, 5. infomemo.theocc.com, 6. veza.com, 7. www.forbes.com, 8. www.itsecurityguru.org, 9. www.marketwatch.com, 10. www.marketbeat.com, 11. www.reuters.com, 12. www.barrons.com, 13. www.investopedia.com, 14. newsroom.servicenow.com, 15. www.reuters.com, 16. www.marketbeat.com, 17. www.marketbeat.com, 18. newsroom.servicenow.com, 19. veza.com
