Mutual of America Capital Management LLC Lowers Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Mutual of America Capital Management LLC lowered its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 126,914 shares of the CRM provider’s stock after selling 3,305 shares during the quarter. Salesforce makes up 0.4% of Mutual of America Capital Management LLC’s holdings, making the stock its 27th largest position. Mutual of America Capital Management LLC’s holdings in Salesforce were worth $38,224,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bear Mountain Capital Inc. purchased a new stake in Salesforce during the 4th quarter worth about $26,000. Signature Resources Capital Management LLC purchased a new stake in shares of Salesforce in the 4th quarter valued at about $26,000. Kathleen S. Wright Associates Inc. acquired a new position in Salesforce in the 4th quarter valued at about $31,000. Pacifica Partners Inc. increased its position 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 acquiring an additional 100 shares during the period. Finally, Red Tortoise LLC acquired a new position in Salesforce in the 1st quarter valued at about $33,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 2,425 shares of Salesforce stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the sale, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO Sundeep G. Reddy sold 2,425 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the transaction, the chief accounting officer now owns 5,856 shares in the company, valued at $1,599,566.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director G Mason Morfit acquired 428,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were bought at an average price of $233.17 per share, for a total transaction of $99,796,760.00. Following the purchase, the director now directly owns 3,914,309 shares of the company’s stock, valued at $912,699,429.53. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 469,152 shares of company stock valued at $127,249,111. Insiders own 3.20% of the company’s stock.

Salesforce Stock Down 2.2 %

Shares of CRM stock traded down $5.75 during trading hours on Monday, hitting $257.44. 6,536,481 shares of the company were exchanged, compared to its average volume of 6,938,936. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The business’s 50-day simple moving average is $257.89 and its two-hundred day simple moving average is $276.33. The stock has a market capitalization of $249.46 billion, a price-to-earnings ratio of 46.30, a P/E/G ratio of 2.31 and a beta of 1.29.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The firm had revenue of $9.13 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter last year, the company posted $1.15 earnings per share. Salesforce’s revenue was up 10.7% on a year-over-year basis. Sell-side analysts predict that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th will be issued a dividend of $0.40 per share. The ex-dividend date is Tuesday, July 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.62%. Salesforce’s dividend payout ratio (DPR) is presently 7.19%.

Wall Street Analysts Forecast Growth

CRM has been the topic of several recent analyst reports. Wells Fargo & Company dropped their target price on Salesforce from $300.00 to $250.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 30th. Macquarie dropped their target price on Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a research report on Friday, May 31st. JPMorgan Chase & Co. lowered their price target on Salesforce from $310.00 to $300.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft lowered their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Finally, Needham & Company LLC restated a “buy” rating and issued a $345.00 price target on shares of Salesforce in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.79.

About Salesforce

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.