Montag & Caldwell LLC Sells 108 Shares of Splunk Inc. (NASDAQ:SPLK)

Montag & Caldwell LLC cut its position in shares of Splunk Inc. (NASDAQ:SPLK) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The firm 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 filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SPLK. Raleigh Capital Management Inc. raised its position in shares of Splunk by 546.2% during the third quarter. Raleigh Capital Management Inc. now owns 168 shares of the software company’s stock worth $25,000 after purchasing an additional 142 shares during the period. Orion Capital Management LLC bought a new stake in Splunk in the 3rd quarter valued at $33,000. Venturi Wealth Management LLC acquired a new position in Splunk in the 3rd quarter valued at $42,000. Webster Bank N. A. acquired a new position in Splunk in the 4th quarter valued at $44,000. Finally, First Command Advisory Services Inc. acquired a new position in shares of Splunk during the 3rd quarter worth $44,000. 87.56% of the stock is currently owned by institutional investors.

Splunk Stock Performance

NASDAQ:SPLK remained flat at $156.90 during midday trading on Monday. 5,546 shares of the company traded hands, compared to its average volume of 2,084,977. The stock has a fifty day moving average of $156.58 and a two-hundred day moving average of $153.07. Splunk Inc. has a 12-month low of $82.19 and a 12-month high of $156.97. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 15.61. The firm has a market capitalization of $26.44 billion, a P/E ratio of 124.52, a PEG ratio of 4.42 and a beta of 1.00.

Splunk (NASDAQ:SPLK) last issued its earnings results on Tuesday, February 27th. The software company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $1.05 by $1.42. The business had revenue of $1.49 billion for 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%. As a group, equities research analysts expect that Splunk Inc. will post 1.62 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SPLK. TheStreet raised Splunk from a “c” rating to a “b” rating in a report on Tuesday, February 27th. StockNews.com initiated coverage on Splunk in a report on Saturday. They issued a “buy” rating on the stock. Twenty-three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $135.31.

About Splunk

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.