Sprinklr (NYSE:CXM) Trading Up 1.7% – Here’s Why

Shares of Sprinklr, Inc. (NYSE:CXM) traded up 1.7% on Wednesday . The stock traded as high as $7.93 and last traded at $7.91. 118,357 shares changed hands during trading, a decline of 95% from the average session volume of 2,261,059 shares. The stock had previously closed at $7.78.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CXM. 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. Scotiabank began coverage on Sprinklr in a research note on Tuesday. They issued a “sector perform” rating and a $7.70 target price for the company. Rosenblatt Securities dropped 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. Morgan Stanley reduced their price objective on Sprinklr from $12.00 to $10.00 and set an “equal weight” rating for the company in a research report on Thursday, September 5th. Finally, DA Davidson lowered their price objective on Sprinklr from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $9.61.

Sprinklr Price Performance

The firm’s fifty day simple moving average is $7.52 and its 200 day simple moving average is $8.99. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of 44.70, a PEG ratio of 2.32 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 analysts’ consensus estimates of $0.01. Sprinklr had a net margin of 6.54% and a return on equity of 8.40%. The firm had revenue of $197.21 million during the quarter, compared to analyst estimates of $194.58 million. Equities research analysts forecast that Sprinklr, Inc. will post 0.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Sprinklr

In related news, major shareholder Roger H. Lee sold 44,884 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $7.83, for a total transaction of $351,441.72. Following the transaction, the insider now owns 739,799 shares of the company’s stock, valued at approximately $5,792,626.17. This trade represents a 5.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ragy Thomas sold 12,902 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $7.83, for a total transaction of $101,022.66. Following the transaction, the chief executive officer now owns 1,051,182 shares in the company, valued at approximately $8,230,755.06. This trade represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 338,480 shares of company stock valued at $2,545,967 in the last quarter. Company insiders own 30.12% of the company’s stock.

Institutional Trading of Sprinklr

Several large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its stake 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 acquiring an additional 1,117 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Sprinklr by 15.6% during the 2nd quarter. CIBC Asset Management Inc now owns 12,523 shares of the company’s stock worth $120,000 after buying an additional 1,694 shares during the period. Louisiana State Employees Retirement System grew its stake in Sprinklr by 2.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 60,300 shares of the company’s stock valued at $580,000 after buying an additional 1,700 shares during the last quarter. CWM LLC raised its holdings in Sprinklr by 111.0% in the 2nd quarter. CWM LLC now owns 3,620 shares of the company’s stock worth $35,000 after acquiring an additional 1,904 shares during the period. Finally, Commonwealth Equity Services LLC boosted its holdings in Sprinklr by 12.0% during the second quarter. Commonwealth Equity Services LLC now owns 22,854 shares of the company’s stock valued at $220,000 after acquiring 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.