Salesforce, Inc. (NYSE:CRM) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 49.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,368 shares of the CRM provider’s stock after buying an additional 9,094 shares during the period. Intech Investment Management LLC’s holdings in Salesforce were worth $7,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. acquired a new stake in Salesforce in the 4th quarter valued at approximately $26,000. Signature Resources Capital Management LLC acquired a new stake in Salesforce in the 4th quarter valued at approximately $26,000. Kathleen S. Wright Associates Inc. acquired a new stake in Salesforce in the 4th quarter valued at approximately $31,000. Pacifica Partners Inc. increased its holdings in Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 100 shares during the last quarter. Finally, BKM Wealth Management LLC acquired a new position in shares of Salesforce in the fourth quarter worth $34,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Stifel Nicolaus restated a “buy” rating and issued a $350.00 price target on shares of Salesforce in a research note on Wednesday, April 3rd. Canaccord Genuity Group restated a “buy” rating and issued a $350.00 price target on shares of Salesforce in a research note on Thursday, March 7th. Wolfe Research reaffirmed an “outperform” rating and set a $365.00 price objective on shares of Salesforce in a research report on Tuesday, April 16th. UBS Group lifted their price objective on shares of Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Finally, Jefferies Financial Group lifted their price objective on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.94.

Insiders Place Their Bets

In other Salesforce news, COO Brian Millham sold 6,162 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $283.41, for a total transaction of $1,746,372.42. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Srinivas Tallapragada sold 2,474 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $295.59, for a total value of $731,289.66. Following the completion of the sale, the insider now owns 60,416 shares of the company’s stock, valued at $17,858,365.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Brian Millham sold 6,162 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $283.41, for a total transaction of $1,746,372.42. The disclosure for this sale can be found here. Insiders have sold a total of 636,344 shares of company stock valued at $184,877,874 over the last quarter. Company insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Shares of NYSE CRM traded down $6.28 on Friday, hitting $272.29. The company’s stock had a trading volume of 8,325,132 shares, compared to its average volume of 3,819,083. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The company has a market capitalization of $263.58 billion, a price-to-earnings ratio of 64.83, a price-to-earnings-growth ratio of 2.40 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a 50 day moving average of $286.94 and a 200-day moving average of $274.60.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.06. The business had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 earnings per share. As a group, research analysts predict that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio is currently 9.52%.

Salesforce Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.