Sprinklr, Inc. (NYSE:CXM) Position Cut by Sachem Head Capital Management LP

Sachem Head Capital Management LP trimmed its holdings in shares of Sprinklr, Inc. (NYSE:CXM) by 8.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,695,000 shares of the company’s stock after selling 600,000 shares during the period. Sprinklr makes up approximately 2.7% of Sachem Head Capital Management LP’s investment portfolio, making the stock its 13th largest holding. Sachem Head Capital Management LP owned 2.64% of Sprinklr worth $51,752,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its stake in Sprinklr by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 65,159 shares of the company’s stock worth $627,000 after purchasing an additional 1,117 shares in the last quarter. CIBC Asset Management Inc boosted its position in 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 acquiring an additional 1,694 shares during the period. Louisiana State Employees Retirement System boosted its position in 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 boosted its position in Sprinklr by 111.0% during 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 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 acquiring an additional 2,450 shares during the period. 40.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CXM shares. Scotiabank started coverage on Sprinklr in a research report on Tuesday, November 19th. They set a “sector perform” rating and a $7.70 price objective for the company. JMP Securities restated a “market outperform” rating and set a $17.00 price objective on shares of Sprinklr in a research report on Thursday, September 5th. Morgan Stanley decreased 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. Barclays lowered Sprinklr from an “overweight” rating to an “underweight” rating and reduced their price target for the company from $10.00 to $7.00 in a report on Monday, October 7th. Finally, Citigroup cut their price objective on Sprinklr from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $9.61.

Sprinklr Stock Performance

Shares of CXM stock opened at $8.63 on Thursday. The stock’s fifty day moving average is $7.60 and its 200-day moving average is $8.71. The stock has a market capitalization of $2.19 billion, a PE ratio of 47.95, a PEG ratio of 2.46 and a beta of 0.81. Sprinklr, Inc. has a 52 week low of $6.91 and a 52 week high of $17.14.

Sprinklr (NYSE:CXM) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. The business had revenue of $197.21 million for the quarter, compared to analysts’ expectations of $194.58 million. Sprinklr had a return on equity of 8.40% and a net margin of 6.54%. As a group, analysts forecast that Sprinklr, Inc. will post 0.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Sprinklr

In other news, CEO Ragy Thomas sold 12,902 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $7.83, for a total transaction of $101,022.66. Following the sale, the chief executive officer now owns 1,051,182 shares of the company’s stock, valued at $8,230,755.06. This trade represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Roger H. Lee sold 44,884 shares of the firm’s 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 sale, the insider now directly owns 739,799 shares in the company, valued at approximately $5,792,626.17. This represents a 5.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 338,480 shares of company stock valued at $2,545,967. 30.12% of the stock is currently owned by company insiders.

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.