Federated Hermes Inc. Sells 54,221 Shares of Sprinklr, Inc. (NYSE:CXM)

Key Points

• Federated Hermes Inc. reduced its stake in Sprinklr, Inc. by 3.1%, now holding 1,674,163 shares worth approximately $13.98 million.
• Several other hedge funds increased their positions in Sprinklr, with Jefferies Financial Group raising its holdings by 96.4% in the last quarter.
• Sprinklr reported a quarterly revenue of $205.50 million, exceeding estimates and showing a 4.9% year-over-year increase in revenue.

Federated Hermes Inc. lowered its position in shares of Sprinklr, Inc. (NYSE:CXM - Free Report) by 3.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,674,163 shares of the company's stock after selling 54,221 shares during the period. Federated Hermes Inc. owned approximately 0.65% of Sprinklr worth $13,979,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CXM. KLP Kapitalforvaltning AS bought a new stake in shares of Sprinklr in the fourth quarter worth $188,000. Norges Bank bought a new stake in shares of Sprinklr in the fourth quarter worth $16,477,000. Trexquant Investment LP bought a new stake in shares of Sprinklr in the fourth quarter worth $566,000. ExodusPoint Capital Management LP bought a new stake in shares of Sprinklr in the fourth quarter worth $1,686,000. Finally, Wells Fargo & Company MN increased its stake in shares of Sprinklr by 28.0% in the fourth quarter. Wells Fargo & Company MN now owns 59,965 shares of the company's stock worth $507,000 after buying an additional 13,110 shares during the last quarter. Hedge funds and other institutional investors own 40.19% of the company's stock.

Sprinklr Stock Up 3.4%

Sprinklr stock traded up $0.30 during midday trading on Monday, hitting $8.88. The company's stock had a trading volume of 1,445,949 shares, compared to its average volume of 2,259,104. The stock's 50-day moving average price is $8.63 and its 200-day moving average price is $8.43. The company has a market capitalization of $2.30 billion, a PE ratio of 61.29, a price-to-earnings-growth ratio of 1.89 and a beta of 0.81. Sprinklr, Inc. has a 12 month low of $6.75 and a 12 month high of $9.69.

Sprinklr (NYSE:CXM - Get Free Report) last posted its quarterly earnings data on Wednesday, June 4th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.02. The firm had revenue of $205.50 million for the quarter, compared to the consensus estimate of $201.83 million. Sprinklr had a return on equity of 6.86% and a net margin of 13.57%. The business's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.09 EPS. As a group, equities analysts anticipate that Sprinklr, Inc. will post 0.1 EPS for the current year.

Insider Activity

In other Sprinklr news, CMO Arun Pattabhiraman sold 16,222 shares of Sprinklr stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $8.17, for a total transaction of $132,533.74. Following the transaction, the chief marketing officer owned 551,206 shares of the company's stock, valued at $4,503,353.02. The trade was a 2.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Jacob Scott sold 62,422 shares of Sprinklr stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $7.99, for a total value of $498,751.78. Following the transaction, the general counsel directly owned 441,664 shares in the company, valued at approximately $3,528,895.36. This trade represents a 12.38% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,512,691 shares of company stock worth $85,942,764. 60.53% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CXM. Wells Fargo & Company lifted their price target on shares of Sprinklr from $6.00 to $7.00 and gave the stock an "underweight" rating in a research note on Thursday, June 5th. DA Davidson lifted their price objective on shares of Sprinklr from $8.00 to $9.00 and gave the stock a "neutral" rating in a report on Thursday, June 5th. Morgan Stanley lifted their price objective on shares of Sprinklr from $8.00 to $10.00 and gave the stock an "equal weight" rating in a report on Thursday, June 5th. Cantor Fitzgerald initiated coverage on shares of Sprinklr in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $8.00 price objective for the company. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $17.00 price objective on shares of Sprinklr in a report on Friday, June 27th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $10.25.

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.