Cerity Partners LLC Increases Stock Holdings in Splunk Inc. (NASDAQ:SPLK)

Cerity Partners LLC grew its position in Splunk Inc. (NASDAQ:SPLK) by 24.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,164 shares of the software company’s stock after buying an additional 825 shares during the quarter. Cerity Partners LLC’s holdings in Splunk were worth $634,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Carmignac Gestion purchased a new position in shares of Splunk in the third quarter valued at $6,248,000. Nordea Investment Management AB increased its position in shares of Splunk by 682.1% in the fourth quarter. Nordea Investment Management AB now owns 84,838 shares of the software company’s stock valued at $12,909,000 after buying an additional 73,990 shares in the last quarter. DNB Asset Management AS increased its position in shares of Splunk by 25.8% in the fourth quarter. DNB Asset Management AS now owns 48,043 shares of the software company’s stock valued at $7,319,000 after buying an additional 9,847 shares in the last quarter. Capula Management Ltd purchased a new position in shares of Splunk in the third quarter valued at $2,486,000. Finally, QRG Capital Management Inc. purchased a new position in shares of Splunk in the third quarter valued at $320,000. Hedge funds and other institutional investors own 87.56% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. StockNews.com began coverage on Splunk in a research report on Friday, April 19th. They issued a “buy” rating for the company. TheStreet raised Splunk from a “c” rating to a “b” rating in a research note on Tuesday, February 27th. Twenty-three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Splunk presently has an average rating of “Hold” and an average price target of $135.31.

Splunk Stock Performance

NASDAQ SPLK opened at $156.90 on Wednesday. The firm has a market capitalization of $26.44 billion, a P/E ratio of 124.52, a P/E/G ratio of 4.42 and a beta of 1.00. Splunk Inc. has a 1-year low of $82.19 and a 1-year high of $156.97. The company has a debt-to-equity ratio of 15.61, a current ratio of 1.69 and a quick ratio of 1.69. The business’s 50-day simple moving average is $156.47 and its 200-day simple moving average is $152.86.

Splunk (NASDAQ:SPLK) last released its quarterly earnings data 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 analyst estimates of $1.26 billion. Splunk had a return on equity of 32,117.42% and a net margin of 6.26%. Equities analysts predict that Splunk Inc. will post 1.62 EPS for the current year.

Splunk 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.