Sprinklr (NYSE:CXM) Rating Lowered to Underweight at Wells Fargo & Company

Wells Fargo & Company cut shares of Sprinklr (NYSE:CXM) from an equal weight rating to an underweight rating in a report issued on Tuesday morning, Marketbeat reports. They currently have $6.00 price objective on the stock, down from their prior price objective of $8.00.

A number of other research analysts also recently issued reports on CXM. Cantor Fitzgerald decreased their price target on Sprinklr from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Citigroup cut their target price on Sprinklr from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. KeyCorp reduced their price target on shares of Sprinklr from $16.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. Morgan Stanley cut their target price on shares of Sprinklr from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 5th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 target price on shares of Sprinklr in a report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.80.

Sprinklr Price Performance

Shares of CXM stock traded down $0.11 during mid-day trading on Tuesday, hitting $7.63. The company had a trading volume of 297,942 shares, compared to its average volume of 2,258,861. The stock’s 50 day moving average price is $7.50 and its 200-day moving average price is $9.13. Sprinklr has a 52-week low of $6.91 and a 52-week high of $17.14. The company has a market capitalization of $1.93 billion, a P/E ratio of 42.34, a P/E/G ratio of 2.41 and a beta of 0.76.

Sprinklr (NYSE:CXM) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. Sprinklr had a net margin of 6.54% and a return on equity of 8.40%. The company had revenue of $197.21 million during the quarter, compared to analyst estimates of $194.58 million. On average, equities research analysts expect that Sprinklr will post 0.11 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Roger H. Lee sold 225,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $7.37, for a total transaction of $1,658,250.00. Following the transaction, the insider now owns 514,799 shares in the company, valued at $3,794,068.63. This represents a 30.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Arun Pattabhiraman sold 10,291 shares of Sprinklr stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $7.83, for a total value of $80,578.53. Following the completion of the sale, the chief marketing officer now owns 448,947 shares of the company’s stock, valued at approximately $3,515,255.01. The trade was a 2.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 338,480 shares of company stock worth $2,545,967. 30.12% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sprinklr

A number of large investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its holdings in shares of Sprinklr by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 65,159 shares of the company’s stock valued at $627,000 after purchasing an additional 1,117 shares during the period. CIBC Asset Management Inc raised its holdings in Sprinklr by 15.6% in the 2nd quarter. CIBC Asset Management Inc now owns 12,523 shares of the company’s stock valued at $120,000 after acquiring an additional 1,694 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Sprinklr by 2.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 60,300 shares of the company’s stock worth $580,000 after acquiring an additional 1,700 shares during the period. CWM LLC increased its holdings in shares of Sprinklr by 111.0% during the second quarter. CWM LLC now owns 3,620 shares of the company’s stock worth $35,000 after buying an additional 1,904 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in Sprinklr by 12.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 22,854 shares of the company’s stock worth $220,000 after buying an additional 2,450 shares during the period. Institutional investors own 40.19% of the company’s stock.

Sprinklr Company Profile

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.