Intech Investment Management LLC Takes Position in Sprinklr, Inc. (NYSE:CXM)

Intech Investment Management LLC purchased a new position in Sprinklr, Inc. (NYSE:CXM) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 29,934 shares of the company’s stock, valued at approximately $231,000.

Several other institutional investors also recently bought and sold shares of the company. Solel Partners LP grew its holdings in shares of Sprinklr by 46.8% during the second quarter. Solel Partners LP now owns 3,692,963 shares of the company’s stock valued at $35,526,000 after buying an additional 1,176,726 shares during the last quarter. Letko Brosseau & Associates Inc. boosted its stake in Sprinklr by 63.5% during 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. Federated Hermes Inc. increased its holdings in shares of Sprinklr by 107,818.1% in the 2nd quarter. Federated Hermes Inc. now owns 1,696,472 shares of the company’s stock worth $16,320,000 after purchasing an additional 1,694,900 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Sprinklr by 25.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 889,269 shares of the company’s stock worth $8,555,000 after purchasing an additional 178,437 shares during the last quarter. Finally, Horrell Capital Management Inc. lifted its holdings in shares of Sprinklr by 31.7% during the third quarter. Horrell Capital Management Inc. now owns 685,000 shares of the company’s stock valued at $5,295,000 after purchasing an additional 165,000 shares in the last quarter. 40.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CXM shares. KeyCorp lowered their target price on shares of Sprinklr from $16.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. Barclays increased their price objective on shares of Sprinklr from $7.00 to $9.00 and gave the company an “underweight” rating in a research report on Thursday. Stifel Nicolaus lifted their target price on shares of Sprinklr from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Thursday. DA Davidson increased their price target on Sprinklr from $8.00 to $9.50 and gave the company a “neutral” rating in a report on Thursday. Finally, Morgan Stanley cut their price objective on Sprinklr from $12.00 to $10.00 and set an “equal weight” rating for the company in a report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $9.97.

Insider Transactions at Sprinklr

In other news, major shareholder Roger H. Lee sold 225,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $7.37, for a total value of $1,658,250.00. Following the completion of the transaction, the insider now directly owns 514,799 shares in the company, valued at $3,794,068.63. This trade represents a 30.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ragy Thomas sold 12,902 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $7.83, for a total value of $101,022.66. Following the completion of the sale, the chief executive officer now owns 1,051,182 shares in the company, valued at approximately $8,230,755.06. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 338,480 shares of company stock valued at $2,545,967 in the last 90 days. Insiders own 30.12% of the company’s stock.

Sprinklr Stock Performance

Sprinklr stock opened at $8.67 on Friday. The company has a 50 day moving average price of $7.62 and a 200-day moving average price of $8.71. The company has a market capitalization of $2.20 billion, a PE ratio of 54.19, a P/E/G ratio of 2.46 and a beta of 0.81. Sprinklr, Inc. has a fifty-two week low of $6.91 and a fifty-two week high of $17.14.

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

Sprinklr 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.