Sprinklr (NYSE:CXM) Sees Unusually-High Trading Volume – Time to Buy?

Sprinklr, Inc. (NYSE:CXM) shares saw strong trading volume on Wednesday . 720,531 shares changed hands 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.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CXM shares. Citigroup lowered their price objective on shares of Sprinklr from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Barclays cut 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. DA Davidson reduced their price objective on Sprinklr from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. KeyCorp decreased their target price on Sprinklr from $16.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. Finally, Scotiabank started coverage on shares of Sprinklr in a report on Tuesday, November 19th. They issued a “sector perform” rating and a $7.70 target price for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $9.61.

Sprinklr Stock Performance

The stock’s fifty day simple moving average is $7.56 and its two-hundred day simple moving average is $8.85. The stock has a market capitalization of $2.08 billion, a P/E ratio of 45.61, a price-to-earnings-growth ratio of 2.48 and a beta of 0.76.

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

Insider Activity

In related news, insider Diane Adams sold 4,282 shares of Sprinklr stock in a transaction on Monday, September 16th. The shares were sold at an average price of $7.83, for a total transaction of $33,528.06. Following the completion of the transaction, the insider now owns 390,940 shares of the company’s stock, valued at $3,061,060.20. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Arun Pattabhiraman sold 10,291 shares of the company’s stock in a transaction 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 directly owns 448,947 shares in the company, valued at $3,515,255.01. This trade represents a 2.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 338,480 shares of company stock valued at $2,545,967. Company insiders own 30.12% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CXM. Geode Capital Management LLC grew its stake 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 purchasing an additional 295,638 shares during the period. Barclays PLC boosted its holdings in shares of Sprinklr by 283.7% during the 3rd quarter. Barclays PLC now owns 242,990 shares of the company’s stock worth $1,878,000 after buying an additional 179,661 shares in the last quarter. Weiss Asset Management LP acquired a new stake in shares of Sprinklr during the 3rd quarter worth approximately $806,000. State Street Corp increased its stake 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 valued at $37,311,000 after acquiring an additional 322,318 shares in the last quarter. Finally, Petrus Trust Company LTA lifted its position in shares of Sprinklr by 109.5% during the 3rd quarter. Petrus Trust Company LTA now owns 88,178 shares of the company’s stock valued at $682,000 after acquiring an additional 46,093 shares during the period. 40.19% of the stock is owned by institutional investors and hedge funds.

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.