There is now a clear answer regarding the ServiceNow (NOW) stock split: ServiceNow completed a 1-for-5 stock split at the end of 2025, and trading with the split adjustment began on December 18, 2025. There are no other stock split plans at this time. What is currently generating significant discussion about ServiceNow is its $4 billion bond offering, which was priced on May 15, 2026—the same day ServiceNow’s stock price rose 5.05%, while the S&P 500 index declined 1.24%.
ServiceNow stock split, debt sale, and 2026 NOW stock forecast
ServiceNow stock split history and current share price status
ServiceNow has a short history of stock splits. The 1-for-5 split conducted in December 2025 was the company’s first stock split; brokers automatically adjusted holdings so that each pre-split share became five post-split shares, with the price per share adjusted accordingly. Currently, the stock’s 52-week high is $211.48, significantly higher than its current price of approximately $95.
This gap reflects the challenging conditions the enterprise software industry has faced over the past few months. Amid concerns that artificial intelligence could disrupt traditional SaaS demand, the industry’s market value has evaporated by approximately $1 trillion. However, as of the week ending May 15, the industry’s stock prices rose by about 4.3%, indicating a partial rebound in buying activity ahead of key investor meetings.
Detailed breakdown of ServiceNow's $4 billion debt offering
ServiceNow’s bond offering includes multiple tranches of senior unsecured notes maturing between 2028 and 2056, with coupon rates ranging from 4.25% to 6.30%. Approximately $3.94 billion in net proceeds will be used to repay the bridge loan ServiceNow obtained to finance its acquisition of the cybersecurity company Armis Security, a transaction completed in April 2026 for $7.75 billion. JPMorgan Chase, Wells Fargo, Barclays, and Citigroup are acting as joint bookrunners for the offering, with institutional investor demand exceeding $38 billion—approximately 9.5 times the offering size—enabling the company to secure more favorable pricing than would otherwise have been available.
CEO Bill McDermott clearly articulated the rationale for Armis, stating:
Will NOW stock rise? Outlook for 2026
ServiceNow (NOW) stock predictions for 2026 depend on the accelerated commercialization of artificial intelligence. ServiceNow reported first-quarter subscription revenue of $3.67 billion, a 22% year-over-year increase; its current remaining performance obligations grew 22.5% to $12.64 billion. McDermott also called the company’s $30 billion subscription revenue target for 2030 “conservative.” This suggests that internal expectations at the company are even higher than those publicly communicated to the market.
McDermott said:
Chief Operating Officer Amit Zavery told Reuters that over half of new sales now come from usage-based billing rather than user licensing, a significant shift for anyone following NOW stock 2026 predictions. Recent risks include margin pressure from the Armis integration, heavier debt payments, and delays in Middle East deals, which have already reduced first-quarter subscription growth by 75 basis points. Zavery noted, “We don’t know when these conflicts will be resolved.” COO Zavery will speak at the J.P. Morgan Global Technology, Media, and Communications Conference on May 19, and CFO Gina Mastantuono will speak at the Jefferies Software and AI Conference on May 27. Both events are critical to NOW stock predictions and whether the momentum from ServiceNow’s debt sale can extend into a broader economic recovery.