Illinois Municipal Retirement Fund Decreases Stake in Splunk Inc. (NASDAQ:SPLK)

Illinois Municipal Retirement Fund lowered its position in shares of Splunk Inc. (NASDAQ:SPLK) by 7.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 80,399 shares of the software company’s stock after selling 6,222 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Splunk were worth $12,249,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. California Public Employees Retirement System grew its holdings in shares of Splunk by 1.8% during the 4th quarter. California Public Employees Retirement System now owns 286,961 shares of the software company’s stock worth $43,719,000 after purchasing an additional 5,033 shares during the period. Handelsbanken Fonder AB grew its holdings in shares of Splunk by 133.2% during the 4th quarter. Handelsbanken Fonder AB now owns 86,194 shares of the software company’s stock worth $13,132,000 after purchasing an additional 49,225 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Splunk by 5.1% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,082 shares of the software company’s stock worth $3,517,000 after purchasing an additional 1,111 shares during the period. Signaturefd LLC grew its holdings in shares of Splunk by 8.8% during the 4th quarter. Signaturefd LLC now owns 1,485 shares of the software company’s stock worth $226,000 after purchasing an additional 120 shares during the period. Finally, Lindbrook Capital LLC grew its holdings in shares of Splunk by 13.2% during the 4th quarter. Lindbrook Capital LLC now owns 1,004 shares of the software company’s stock worth $153,000 after purchasing an additional 117 shares during the period. Hedge funds and other institutional investors own 87.56% of the company’s stock.

Analyst Upgrades and Downgrades

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

Splunk Stock Performance

Shares of NASDAQ:SPLK remained flat at $156.90 on Tuesday. The stock had a trading volume of 5,546 shares, compared to its average volume of 2,084,977. Splunk Inc. has a 12 month low of $82.19 and a 12 month high of $156.97. The firm has a market capitalization of $26.44 billion, a P/E ratio of 124.52, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00. The company’s 50 day moving average price is $156.42 and its 200-day moving average price is $152.78. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 15.61.

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

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.