ServiceNow, Inc. (NYSE: NOW) heads into Monday’s session with multiple headline catalysts colliding at once: a 5‑for‑1 stock split that goes “live” later this week, a fresh Reuters report linking the company to a potential multibillion‑dollar cybersecurity acquisition, and a string of AI-and-security product moves that are shaping the narrative around growth heading into year-end.
Here’s what investors and traders are watching before the opening bell on Monday, December 15, 2025—and why it matters.
ServiceNow stock price snapshot heading into Monday
ServiceNow shares last closed at $865.06 on Friday, December 12, after trading between roughly the high-$850s and mid-$870s during the session. [1]
That puts NOW:
- Well off its 52‑week high of $1,198.09 (set January 28, 2025)
- Still meaningfully above its 52‑week low of $678.66 (set April 7, 2025) [2]
ServiceNow remains a megacap enterprise software name, with the Financial Times market data page showing a market cap around $179B and a trailing P/E over 100x (figures that will be mechanically affected by the stock split on a per‑share basis, but not economically “reset”). [3]
1) The big near-term event: ServiceNow’s 5‑for‑1 stock split (Dec. 18 split-adjusted trading)
The most concrete catalyst on the calendar is the stock split.
ServiceNow announced that shareholders approved a 5‑for‑1 split, with these key dates:
- Record date: December 16, 2025
- Distribution: after market close on or about December 17, 2025
- Split-adjusted trading expected to begin:December 18, 2025 [4]
What the split changes (and what it doesn’t)
A stock split is mostly a mechanical corporate action:
- If you owned 1 share before, you’ll own 5 shares after (economically the same stake).
- The share price should adjust down by roughly the same factor.
Using Friday’s close of $865.06, a simple split-adjusted reference price would be about $173.01 per share (865.06 ÷ 5). The actual first split-adjusted print on Dec. 18 can differ based on broader market moves.
Watch out for “messy” data in the days around the split
In the 24–72 hours around a split, investors often see temporary confusion across broker apps and market data sites:
- “Wrong-looking” price charts until historical prices are adjusted
- Analyst price targets and per-share metrics that briefly appear inconsistent
That’s why it helps to keep both frames in mind: pre-split ~$865 vs. post-split ~$173 (all else equal).
What to watch on Monday (Dec. 15)
Monday is the first full session of the week that leads directly into the split mechanics. That can bring:
- Increased headlines and explainers
- Potentially higher attention from retail traders, even if fundamentals don’t change
Yahoo Finance commentary around the split has framed the move as potentially improving accessibility and liquidity by lowering the per‑share trading price. [5]
2) The weekend headline risk: Reuters reports ServiceNow in talks to buy Armis (up to ~$7B)
The biggest “new” story risk into Monday comes from Reuters: ServiceNow is reportedly in advanced talks to acquire cybersecurity firm Armis, in a deal that could be valued at up to about $7 billion including debt, with a deal potentially coming together soon (though not finalized). [6]
Why this matters for NOW stock
M&A headlines can move a stock quickly because investors immediately handicap:
- Strategic fit (does the target accelerate a key product priority?)
- Price paid (is it dilutive or value-creative?)
- Integration risk
- Regulatory review risk
Even without confirmed terms, a rumored multibillion-dollar deal is “market-moving” because it can reshape the near-term narrative: ServiceNow would be signaling a willingness to spend heavily to deepen its security platform.
Why Armis fits the storyline investors already have
This Reuters report arrives after ServiceNow has already been stacking security-and-governance moves—especially around identity, access, and AI agent control (more on that next).
For Monday’s premarket, the practical question is simple: does this develop into a confirmed announcement, or does it fade as speculation? Either path can drive volatility.
3) ServiceNow’s security push is accelerating: the planned acquisition of Veza
Earlier this month, ServiceNow announced its intent to acquire Veza, describing it as an identity security move meant to expand its Security and Risk portfolio and strengthen identity governance as enterprises adopt AI agents. [7]
In the Business Wire release, ServiceNow positioned Veza’s “Access Graph” as a way to map access relationships across human, machine, and AI identities, and tied the deal directly to governing what AI agents can access and do. [8]
Bottom line: If Reuters’ Armis report progresses, investors may interpret it as part of a broader “security consolidation” strategy—rather than a one-off deal.
4) AI platform partnerships and public-sector expansion are also in focus
Beyond M&A, ServiceNow has been issuing a steady drumbeat of announcements designed to reinforce the company’s pitch as an “AI platform for business transformation” (and, increasingly, an AI governance layer).
Canada public-sector investment: CA$110M, new center of excellence, ~100 jobs
ServiceNow announced a CA$110 million multi‑year investment to support AI adoption across Canada’s public sector, including a new Canada Centre of Excellence and about 100 Canada-based jobs, plus Canadian-hosted AI-ready infrastructure and data/security controls. [9]
Public-sector and regulated-market momentum matters because these environments can drive large, sticky contracts—but they can also be sensitive to procurement timing and budgets.
Microsoft integrations: agent orchestration + governance
ServiceNow also announced new and forthcoming integrations with Microsoft—framed around connecting copilots, agents, and data across Microsoft 365 and the ServiceNow AI Platform—with an emphasis on orchestration and governance for AI agents. [10]
The release specifically points to ServiceNow’s AI Control Tower integrating with Microsoft platforms like Foundry and Copilot Studio to extend oversight and policy controls. [11]
New ecosystem signals: Veeam and 3E integrations
Two other partnership headlines that feed into the “platform” narrative:
- Veeam + ServiceNow: Business Wire describes a new Veeam app designed to help orchestrate and manage data protection workflows through ServiceNow, tying into resilience and compliance. [12]
- 3E + ServiceNow: A partnership to provide SDS and chemical safety content to power ServiceNow’s Health and Safety Chemical Management Solution. [13]
Individually, these partnerships may not move the stock. Collectively, they support the idea that ServiceNow wants to be the enterprise layer where workflows—and now AI agent governance—come together.
5) The fundamentals backdrop: what ServiceNow reported last quarter (Q3 2025)
The most recent earnings anchor remains ServiceNow’s third-quarter 2025 results (reported October 29, 2025).
Key reported Q3 2025 figures included:
- Subscription revenue:$3.299B, up 21.5% year over year
- Total revenue:$3.407B, up 22% year over year
- cRPO:$11.35B, up 21% year over year
- Non‑GAAP diluted EPS:$4.82 [14]
For many investors, cRPO is an important “forward demand” signal because it reflects contracted future revenue obligations.
6) Guidance: what ServiceNow told the market to expect for Q4 and FY2025
In the same Q3 release materials, ServiceNow guided to:
Q4 2025 outlook (company guidance)
- Subscription revenues:$3.420B to $3.430B (year/year growth guidance shown around ~19.5%) [15]
Full-year 2025 outlook (company guidance)
- Subscription revenues:$12.835B to $12.845B [16]
Notably, the company also pointed to U.S. federal agencies facing budget and mission shifts, and said the impact of a recent shutdown had been reflected in Q4 guidance—language investors may still weigh when thinking about large public-sector deals and deal timing. [17]
7) Wall Street forecasts: analyst price targets (and how to think about them with the split coming)
Consensus targets vary widely, but MarketWatch’s analyst estimates page shows:
- High target: $1,332
- Median target: $1,150
- Low target: $766
- Average target: $1,152.46 [18]
Against a recent price in the mid-$860s, that average target implies roughly low‑30% upside on paper—but investors should treat targets as directional opinions, not promises.
Split-adjusted “equivalents” (so you don’t get confused later this week)
If your broker/data app hasn’t updated yet after Dec. 18, you can sanity-check the split-adjusted versions:
- High target: ~$266.40 (1332 ÷ 5)
- Median target: ~$230.00 (1150 ÷ 5)
- Low target: ~$153.20 (766 ÷ 5)
- Average target: ~$230.49 (1152.46 ÷ 5)
Many platforms will automatically adjust these; others lag.
8) What could move NOW stock on Monday morning
Going into Monday’s open, the highest-likelihood movers are headline-driven:
- Any follow-up reporting on Armis (confirmation, denial, price details, timeline).
- Positioning ahead of the stock split (expect more explainers and retail attention). [19]
- M&A “stacking” narrative (Veza + possible Armis) versus concerns about deal costs and integration risk. [20]
- Broader tech sentiment—NOW can trade with large-cap enterprise software, even when company-specific news is quiet.
9) Key risks investors keep coming back to
Even with strong revenue growth, the debate around ServiceNow often centers on a few recurring issues:
- Valuation risk: premium multiples can amplify volatility when guidance disappoints or macro conditions tighten. [21]
- M&A execution risk: multiple acquisitions (planned or rumored) raise the bar for integration and ROI.
- Public sector timing risk: large government/regulated deals can shift based on budgets and procurement timing. [22]
- Competitive intensity: AI workflow automation is crowded, and governance/orchestration is becoming a key battleground (especially with Microsoft deeply involved in enterprise AI). [23]
The takeaway before the bell
For Monday, December 15, ServiceNow stock sits at the intersection of corporate action (split), possible major M&A (Armis), and ongoing security + AI platform expansion (Veza, Microsoft, public sector, ecosystem apps). [24]
References
1. finance.yahoo.com, 2. markets.ft.com, 3. markets.ft.com, 4. newsroom.servicenow.com, 5. finance.yahoo.com, 6. finance.yahoo.com, 7. www.businesswire.com, 8. www.businesswire.com, 9. www.businesswire.com, 10. www.businesswire.com, 11. www.businesswire.com, 12. www.businesswire.com, 13. www.businesswire.com, 14. www.servicenow.com, 15. newsroom.servicenow.com, 16. newsroom.servicenow.com, 17. newsroom.servicenow.com, 18. www.marketwatch.com, 19. newsroom.servicenow.com, 20. www.businesswire.com, 21. markets.ft.com, 22. newsroom.servicenow.com, 23. www.businesswire.com, 24. newsroom.servicenow.com
