Letko Brosseau & Associates Inc. Grows Holdings in Sprinklr, Inc. (NYSE:CXM)

Letko Brosseau & Associates Inc. grew its stake in Sprinklr, Inc. (NYSE:CXM) by 1.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,748,875 shares of the company’s stock after purchasing an additional 17,275 shares during the period. Letko Brosseau & Associates Inc. owned approximately 0.68% of Sprinklr worth $14,603,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in Sprinklr by 4.4% in the first quarter. Bank of New York Mellon Corp now owns 1,560,184 shares of the company’s stock worth $13,028,000 after acquiring an additional 65,897 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Sprinklr by 209.5% during the 1st quarter. GAMMA Investing LLC now owns 3,677 shares of the company’s stock worth $31,000 after purchasing an additional 2,489 shares during the period. Bank of America Corp DE increased its holdings in shares of Sprinklr by 34.2% in the 4th quarter. Bank of America Corp DE now owns 883,398 shares of the company’s stock valued at $7,465,000 after purchasing an additional 224,886 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Sprinklr by 3.3% in the fourth quarter. Northern Trust Corp now owns 1,232,711 shares of the company’s stock valued at $10,416,000 after purchasing an additional 38,895 shares during the period. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Sprinklr in the fourth quarter valued at about $424,000. 40.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CXM has been the subject of several research reports. JMP Securities reiterated a “market outperform” rating and set a $17.00 price objective on shares of Sprinklr in a research report on Friday, June 27th. Wells Fargo & Company lifted their price objective on Sprinklr from $6.00 to $7.00 and gave the company an “underweight” rating in a research report on Thursday, June 5th. Cantor Fitzgerald assumed coverage on Sprinklr in a research note on Tuesday, June 3rd. They issued a “neutral” rating and a $8.00 price target on the stock. Rosenblatt Securities restated a “buy” rating and issued a $12.00 price target on shares of Sprinklr in a report on Thursday, June 5th. Finally, DA Davidson boosted their target price on shares of Sprinklr from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Thursday, June 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $10.25.

Insider Activity

In other news, CFO Manish Sarin sold 174,749 shares of the business’s stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $9.07, for a total transaction of $1,584,973.43. Following the transaction, the chief financial officer directly owned 732,421 shares in the company, valued at $6,643,058.47. The trade was a 19.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Arun Pattabhiraman sold 16,222 shares of Sprinklr stock in a transaction on Monday, June 16th. The shares were sold at an average price of $8.17, for a total value of $132,533.74. Following the sale, the chief marketing officer directly owned 551,206 shares of the company’s stock, valued at approximately $4,503,353.02. The trade was a 2.86% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 10,511,256 shares of company stock worth $85,929,333. Corporate insiders own 60.53% of the company’s stock.

Sprinklr Stock Performance

Shares of NYSE CXM opened at $9.34 on Wednesday. Sprinklr, Inc. has a 1 year low of $6.75 and a 1 year high of $9.93. The stock has a fifty day moving average price of $8.59 and a two-hundred day moving average price of $8.43. The firm has a market cap of $2.42 billion, a P/E ratio of 22.78, a PEG ratio of 2.05 and a beta of 0.80.

Sprinklr (NYSE:CXM) last posted its quarterly earnings results on Wednesday, June 4th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. The company had revenue of $205.50 million for the quarter, compared to analysts’ expectations of $201.83 million. Sprinklr had a return on equity of 6.86% and a net margin of 13.57%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 earnings per share. On average, research analysts predict that Sprinklr, Inc. will post 0.1 earnings per share for the current fiscal year.

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.