Verition Fund Management LLC Grows Stock Holdings in Sprinklr, Inc. (NYSE:CXM)

Verition Fund Management LLC boosted its position in Sprinklr, Inc. (NYSE:CXM) by 742.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 234,327 shares of the company’s stock after buying an additional 206,526 shares during the period. Verition Fund Management LLC’s holdings in Sprinklr were worth $1,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its holdings in Sprinklr by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 65,159 shares of the company’s stock valued at $627,000 after acquiring an additional 1,117 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Sprinklr by 15.6% in the second quarter. CIBC Asset Management Inc now owns 12,523 shares of the company’s stock valued at $120,000 after purchasing an additional 1,694 shares during the period. Louisiana State Employees Retirement System increased its holdings in Sprinklr by 2.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 60,300 shares of the company’s stock valued at $580,000 after acquiring an additional 1,700 shares in the last quarter. CWM LLC raised its position in shares of Sprinklr by 111.0% during the 2nd quarter. CWM LLC now owns 3,620 shares of the company’s stock worth $35,000 after purchasing an additional 1,904 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in Sprinklr by 12.0% in the 2nd quarter. Commonwealth Equity Services LLC now owns 22,854 shares of the company’s stock valued at $220,000 after buying an additional 2,450 shares in the last quarter. Hedge funds and other institutional investors own 40.19% of the company’s stock.

Insider Activity

In related news, major shareholder Roger H. Lee sold 225,000 shares of the 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 owns 514,799 shares of the company’s stock, valued at approximately $3,794,068.63. This represents a 30.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Diane Adams sold 12,915 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $7.83, for a total transaction of $101,124.45. Following the transaction, the insider now owns 376,942 shares in the company, valued at $2,951,455.86. This trade represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 338,480 shares of company stock valued at $2,545,967. Company insiders own 30.12% of the company’s stock.

Wall Street Analysts Forecast Growth

CXM has been the subject of a number of analyst reports. Wells Fargo & Company cut Sprinklr from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $8.00 to $6.00 in a report on Tuesday, November 12th. JMP Securities restated a “market outperform” rating and issued a $17.00 target price on shares of Sprinklr in a report on Thursday, September 5th. Cantor Fitzgerald reiterated a “neutral” rating and set a $9.00 price target on shares of Sprinklr in a report on Thursday. Scotiabank assumed coverage on shares of Sprinklr in a research report on Tuesday, November 19th. They issued a “sector perform” rating and a $7.70 price objective for the company. Finally, Barclays raised their target price on shares of Sprinklr from $7.00 to $9.00 and gave the stock an “underweight” rating in a research report on Thursday. 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $9.97.

Sprinklr Price Performance

Sprinklr stock opened at $8.67 on Friday. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 54.19, a price-to-earnings-growth ratio of 2.46 and a beta of 0.81. Sprinklr, Inc. has a 12 month low of $6.91 and a 12 month high of $17.14. The stock’s 50-day moving average is $7.62 and its 200-day moving average is $8.71.

Sprinklr (NYSE:CXM) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. Sprinklr had a net margin of 6.54% and a return on equity of 8.40%. The firm had revenue of $197.21 million for the quarter, compared to analyst estimates of $194.58 million. Research analysts anticipate that Sprinklr, Inc. will post 0.11 EPS 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.