Sprinklr (NYSE:CXM) Trading 1.2% Higher – Here’s What Happened

Shares of Sprinklr, Inc. (NYSE:CXM) rose 1.2% on Wednesday . The stock traded as high as $7.64 and last traded at $7.63. Approximately 98,054 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 2,176,094 shares. The stock had previously closed at $7.54.

Analysts Set New Price Targets

CXM has been the subject of a number of research analyst reports. Morgan Stanley lowered their target price on Sprinklr from $12.00 to $10.00 and set an “equal weight” rating for the company in a report on Thursday, September 5th. Barclays downgraded shares of Sprinklr from an “overweight” rating to an “underweight” rating and lowered their price target for the stock from $10.00 to $7.00 in a report on Monday, October 7th. KeyCorp reduced their price objective on shares of Sprinklr from $16.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, September 5th. Rosenblatt Securities decreased their target price on shares of Sprinklr from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd. Finally, Wells Fargo & Company reduced their price target on shares of Sprinklr from $9.00 to $8.00 and set an “equal weight” rating for the company in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $10.00.

Sprinklr Stock Performance

The stock has a market capitalization of $1.90 billion, a P/E ratio of 42.39, a price-to-earnings-growth ratio of 2.10 and a beta of 0.76. The stock has a 50-day moving average price of $7.76 and a two-hundred day moving average price of $9.43.

Sprinklr (NYSE:CXM) last announced its earnings results on Wednesday, September 4th. The company reported $0.01 earnings per share for the quarter, meeting 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 for the quarter, compared to analyst estimates of $194.58 million. Equities analysts anticipate that Sprinklr, Inc. will post 0.11 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Roger H. Lee sold 44,884 shares of Sprinklr stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $7.83, for a total value of $351,441.72. Following the completion of the transaction, the insider now owns 739,799 shares of the company’s stock, valued at $5,792,626.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Roger H. Lee sold 44,884 shares of the company’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 value of $351,441.72. Following the transaction, the insider now owns 739,799 shares in the company, valued at approximately $5,792,626.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Arun Pattabhiraman sold 10,291 shares of the 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 $80,578.53. Following the sale, the chief marketing officer now owns 448,947 shares in the company, valued at approximately $3,515,255.01. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 335,975 shares of company stock worth $2,527,184. Insiders own 30.12% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Horrell Capital Management Inc. raised its stake in Sprinklr by 31.7% during the 3rd quarter. Horrell Capital Management Inc. now owns 685,000 shares of the company’s stock valued at $5,295,000 after buying an additional 165,000 shares during the last quarter. GW Henssler & Associates Ltd. bought a new position in Sprinklr in the third quarter valued at about $142,000. LB Partners LLC purchased a new position in Sprinklr in the third quarter worth about $304,000. Everence Capital Management Inc. purchased a new stake in shares of Sprinklr during the 3rd quarter valued at about $105,000. Finally, Handelsbanken Fonder AB lifted its stake in shares of Sprinklr by 41.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 27,100 shares of the company’s stock worth $209,000 after purchasing an additional 8,000 shares during the period. 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.