Montag & Caldwell LLC Decreases Stock Position in Splunk Inc. (NASDAQ:SPLK)

Montag & Caldwell LLC cut its stake in shares of Splunk Inc. (NASDAQ:SPLK) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,515 shares of the software company’s stock after selling 108 shares during the period. Montag & Caldwell LLC’s holdings in Splunk were worth $2,364,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Ameriprise Financial Inc. raised its position in Splunk by 8.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,729,887 shares of the software company’s stock worth $252,996,000 after purchasing an additional 131,909 shares during the period. Jericho Capital Asset Management L.P. lifted its position in Splunk by 85.6% during the third quarter. Jericho Capital Asset Management L.P. now owns 1,394,000 shares of the software company’s stock valued at $203,872,000 after purchasing an additional 643,000 shares during the period. Federated Hermes Inc. raised its position in shares of Splunk by 48.8% in the third quarter. Federated Hermes Inc. now owns 843,862 shares of the software company’s stock worth $123,415,000 after acquiring an additional 276,742 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Splunk by 4.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 658,494 shares of the software company’s stock worth $96,305,000 after acquiring an additional 25,286 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Splunk by 34.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 611,501 shares of the software company’s stock worth $90,104,000 after acquiring an additional 157,121 shares during the period. Institutional investors own 87.56% of the company’s stock.

Splunk Stock Performance

Shares of NASDAQ SPLK remained flat at $156.90 during midday trading on Monday. The company’s stock had a trading volume of 5,546 shares, compared to its average volume of 2,084,977. The firm has a market capitalization of $26.44 billion, a price-to-earnings ratio of 124.52, a PEG ratio of 4.42 and a beta of 1.00. The business’s 50 day moving average price is $156.58 and its 200-day moving average price is $153.07. Splunk Inc. has a 12 month low of $82.19 and a 12 month high of $156.97. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 15.61.

Splunk (NASDAQ:SPLK) last posted its quarterly earnings results on Tuesday, February 27th. The software company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $1.42. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.26 billion. Splunk had a net margin of 6.26% and a return on equity of 32,117.42%. On average, equities research analysts expect that Splunk Inc. will post 1.62 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. TheStreet raised shares of Splunk from a “c” rating to a “b” rating in a research note on Tuesday, February 27th. StockNews.com assumed coverage on shares of Splunk in a research note on Saturday. They issued a “buy” rating for the company. Twenty-three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $135.31.

Splunk Company Profile

Splunk Inc, together with its subsidiaries, develops and markets cloud services and licensed software solutions in the United States and internationally. The company offers unified security and observability platform, including Splunk Security that helps security leaders fortify their organization's digital resilience by mitigating cyber risk and meeting compliance requirements; and Splunk Observability, which provides visibility across the full stack of infrastructure, applications, and the digital customer experience.