Sprinklr (NYSE:CXM) Sees Strong Trading Volume – What’s Next?

Sprinklr, Inc. (NYSE:CXM) shares saw strong trading volume on Wednesday . 720,531 shares were traded during trading, a decline of 68% from the previous session’s volume of 2,274,435 shares.The stock last traded at $8.24 and had previously closed at $8.18.

Analyst Ratings Changes

A number of equities analysts have weighed in on CXM shares. Scotiabank initiated coverage on shares of Sprinklr in a research report on Tuesday, November 19th. They set a “sector perform” rating and a $7.70 price objective for the company. Wells Fargo & Company cut Sprinklr from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $8.00 to $6.00 in a report on Tuesday, November 12th. KeyCorp reduced their target price on Sprinklr from $16.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. DA Davidson lowered their price target on shares of Sprinklr from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Finally, Barclays lowered Sprinklr from an “overweight” rating to an “underweight” rating and dropped their price target for the company from $10.00 to $7.00 in a research report on Monday, October 7th. Two 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, the company presently has an average rating of “Hold” and an average target price of $9.61.

Sprinklr Price Performance

The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 45.22, a PEG ratio of 2.48 and a beta of 0.76. The business has a 50 day simple moving average of $7.54 and a 200 day simple moving average of $8.88.

Sprinklr (NYSE:CXM) last released its quarterly earnings data on Wednesday, September 4th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $197.21 million during 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%. On average, equities research analysts predict that Sprinklr, Inc. will post 0.11 EPS for the current year.

Insider Transactions at Sprinklr

In related news, 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 completion of the sale, the chief executive officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Roger H. Lee sold 225,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $7.37, for a total transaction of $1,658,250.00. Following the completion of the sale, the insider now owns 514,799 shares of the company’s stock, valued at $3,794,068.63. This trade represents a 30.41 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 338,480 shares of company stock worth $2,545,967. Insiders own 30.12% of the company’s stock.

Institutional Trading of Sprinklr

A number of institutional investors have recently modified their holdings of CXM. Vanguard Group Inc. boosted its holdings in Sprinklr by 30.6% during the first quarter. Vanguard Group Inc. now owns 15,248,951 shares of the company’s stock worth $187,105,000 after buying an additional 3,575,001 shares in the last quarter. State Street Corp boosted its position in shares of Sprinklr by 7.2% in the 3rd quarter. State Street Corp now owns 4,826,736 shares of the company’s stock worth $37,311,000 after buying an additional 322,318 shares in the last quarter. Solel Partners LP grew its position in shares of Sprinklr by 46.8% in the second quarter. Solel Partners LP now owns 3,692,963 shares of the company’s stock valued at $35,526,000 after purchasing an additional 1,176,726 shares during the last quarter. Geode Capital Management LLC increased its position in Sprinklr by 11.9% during the third quarter. Geode Capital Management LLC now owns 2,788,550 shares of the company’s stock worth $21,560,000 after buying an additional 295,638 shares in the last quarter. Finally, Letko Brosseau & Associates Inc. raised its stake in Sprinklr by 63.5% in the 2nd quarter. Letko Brosseau & Associates Inc. now owns 2,130,350 shares of the company’s stock valued at $20,494,000 after purchasing an additional 827,375 shares during the last quarter. 40.19% of the stock is currently owned by hedge funds and other institutional investors.

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.