Allspring Global Investments Holdings LLC Boosts Holdings in Sprinklr, Inc. (NYSE:CXM)

Allspring Global Investments Holdings LLC grew its stake in shares of Sprinklr, Inc. (NYSE:CXM) by 25.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 889,269 shares of the company’s stock after purchasing an additional 178,437 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Sprinklr were worth $8,555,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mather Group LLC. purchased a new stake in Sprinklr in the first quarter worth about $28,000. CWM LLC lifted its stake in shares of Sprinklr by 111.0% in the 2nd quarter. CWM LLC now owns 3,620 shares of the company’s stock valued at $35,000 after purchasing an additional 1,904 shares during the period. Quest Partners LLC bought a new stake in shares of Sprinklr during the fourth quarter valued at approximately $115,000. Simplicity Wealth LLC purchased a new stake in Sprinklr in the second quarter worth $148,000. Finally, D.A. Davidson & CO. bought a new position in Sprinklr in the fourth quarter worth $161,000. Hedge funds and other institutional investors own 40.19% of the company’s stock.

Insiders Place Their Bets

In other news, insider Diane Adams sold 13,717 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $9.20, for a total transaction of $126,196.40. Following the transaction, the insider now directly owns 395,222 shares of the company’s stock, valued at approximately $3,636,042.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 15,962 shares of company stock valued at $148,000. Company insiders own 30.12% of the company’s stock.

Analyst Ratings Changes

CXM has been the topic of a number of research reports. JMP Securities restated a “market outperform” rating and set a $17.00 target price on shares of Sprinklr in a report on Monday, July 1st. Wells Fargo & Company cut their price objective on shares of Sprinklr from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Friday, June 21st. Rosenblatt Securities lowered their target price on shares of Sprinklr from $18.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, June 6th. Cantor Fitzgerald downgraded Sprinklr from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $16.00 to $10.00 in a research note on Thursday, June 6th. Finally, Stifel Nicolaus lowered their price objective on Sprinklr from $15.00 to $9.00 and set a “hold” rating for the company in a research note on Thursday, June 6th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Sprinklr currently has an average rating of “Hold” and an average target price of $12.80.

Sprinklr Price Performance

Shares of NYSE:CXM opened at $8.97 on Friday. Sprinklr, Inc. has a 1 year low of $8.33 and a 1 year high of $17.14. The stock’s fifty day moving average price is $9.29 and its 200-day moving average price is $11.01. The company has a market cap of $2.38 billion, a P/E ratio of 42.71, a PEG ratio of 1.63 and a beta of 0.79.

Sprinklr (NYSE:CXM) last announced its quarterly earnings results on Wednesday, June 5th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. Sprinklr had a net margin of 7.85% and a return on equity of 9.26%. The firm had revenue of $195.96 million for the quarter, compared to the consensus estimate of $194.54 million. On average, sell-side analysts anticipate that Sprinklr, Inc. will post 0.19 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.