Sprinklr (NYSE:CXM) Trading 0.4% Higher – Here’s Why

Sprinklr, Inc. (NYSE:CXM)’s share price traded up 0.4% during mid-day trading on Tuesday . The stock traded as high as $7.79 and last traded at $7.79. 105,301 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 2,259,847 shares. The stock had previously closed at $7.76.

Analyst Ratings Changes

CXM has been the topic of a number of analyst reports. Rosenblatt Securities reduced their price target on Sprinklr from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. Barclays lowered Sprinklr from an “overweight” rating to an “underweight” rating and lowered their price objective for the stock from $10.00 to $7.00 in a research report on Monday, October 7th. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 target price on shares of Sprinklr in a research note on Thursday, September 5th. Citigroup cut their price target on Sprinklr from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Finally, Wells Fargo & Company lowered shares of Sprinklr from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $8.00 to $6.00 in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $9.61.

Sprinklr Stock Up 0.4 %

The company has a market capitalization of $1.98 billion, a PE ratio of 43.42, a PEG ratio of 2.32 and a beta of 0.76. The company has a 50-day moving average price of $7.52 and a two-hundred day moving average price of $9.00.

Sprinklr (NYSE:CXM) last released its quarterly earnings data on Wednesday, September 4th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. The company had revenue of $197.21 million during the quarter, compared to analyst estimates of $194.58 million. Sprinklr had a net margin of 6.54% and a return on equity of 8.40%. As a group, equities analysts anticipate that Sprinklr, Inc. will post 0.11 EPS for the current fiscal year.

Insider Buying and Selling

In other Sprinklr news, CFO Manish Sarin sold 22,738 shares of Sprinklr stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $7.83, for a total transaction of $178,038.54. Following the transaction, the chief financial officer now directly owns 748,918 shares of the company’s stock, valued at approximately $5,864,027.94. This trade represents a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Roger H. Lee sold 44,884 shares of Sprinklr stock in a transaction on Monday, September 9th. The stock was sold at an average price of $7.83, for a total transaction of $351,441.72. Following the completion of the transaction, the insider now owns 739,799 shares in the company, valued at approximately $5,792,626.17. The trade was a 5.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 338,480 shares of company stock worth $2,545,967 over the last ninety days. 30.12% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sprinklr

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Sprinklr by 30.6% in the first quarter. Vanguard Group Inc. now owns 15,248,951 shares of the company’s stock worth $187,105,000 after purchasing an additional 3,575,001 shares during the last quarter. Federated Hermes Inc. boosted its position in Sprinklr by 107,818.1% during the 2nd quarter. Federated Hermes Inc. now owns 1,696,472 shares of the company’s stock valued at $16,320,000 after buying an additional 1,694,900 shares during the period. Solel Partners LP grew its holdings in Sprinklr by 46.8% in the 2nd quarter. Solel Partners LP now owns 3,692,963 shares of the company’s stock worth $35,526,000 after acquiring an additional 1,176,726 shares during the last quarter. Letko Brosseau & Associates Inc. increased its position in shares of Sprinklr by 63.5% in the second quarter. Letko Brosseau & Associates Inc. now owns 2,130,350 shares of the company’s stock valued at $20,494,000 after acquiring an additional 827,375 shares during the period. Finally, State Street Corp raised its stake in shares of Sprinklr by 7.2% during the third quarter. State Street Corp now owns 4,826,736 shares of the company’s stock valued at $37,311,000 after acquiring an additional 322,318 shares during the last quarter. Institutional investors own 40.19% of the company’s stock.

About Sprinklr

Sprinklr, Inc provides enterprise cloud software products worldwide. The company operates Unified Customer Experience Management platform, a software that enables customer-facing teams to collaborate across internal silos, communicate across digital channels, and leverage a complete suite of capabilities to deliver customer experiences.