Sustainable Insight Capital Management LLC Boosts Stock Position in Salesforce, Inc. (NYSE:CRM)

Sustainable Insight Capital Management LLC raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 28.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 899 shares of the CRM provider’s stock after acquiring an additional 200 shares during the quarter. Sustainable Insight Capital Management LLC’s holdings in Salesforce were worth $231,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. JFS Wealth Advisors LLC raised its holdings in Salesforce by 11.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock worth $93,000 after purchasing an additional 36 shares in the last quarter. Fox Hill Wealth Management grew its holdings in shares of Salesforce by 4.0% during the first quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock worth $297,000 after purchasing an additional 38 shares during the last quarter. Pinnacle Wealth Planning Services Inc. boosted its position in shares of Salesforce by 0.8% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock valued at $1,490,000 after purchasing an additional 38 shares during the period. Glassman Wealth Services increased its position in Salesforce by 2.9% during the fourth quarter. Glassman Wealth Services now owns 1,369 shares of the CRM provider’s stock worth $360,000 after buying an additional 39 shares during the period. Finally, Blue Barn Wealth LLC lifted its stake in Salesforce by 1.8% in the first quarter. Blue Barn Wealth LLC now owns 2,207 shares of the CRM provider’s stock valued at $665,000 after buying an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Phillip Securities reissued an “accumulate” rating and set a $305.00 price objective on shares of Salesforce in a research report on Friday, August 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a research report on Thursday, August 29th. JMP Securities reiterated a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a research note on Wednesday, August 28th. BNP Paribas raised Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Finally, Wedbush reissued an “outperform” rating and issued a $315.00 price objective on shares of Salesforce in a research note on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average price target of $304.41.

Salesforce Stock Performance

Shares of CRM stock opened at $244.02 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.04. The firm has a market capitalization of $236.46 billion, a price-to-earnings ratio of 43.89, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The company has a 50 day moving average price of $254.52 and a 200 day moving average price of $269.79.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the prior year, the firm posted $1.63 EPS. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. Sell-side analysts anticipate that Salesforce, Inc. will post 7.52 EPS for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Insiders Place Their Bets

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the sale, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at $1,644,921.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the transaction, the chief accounting officer now directly owns 6,431 shares in the company, valued at approximately $1,644,921.18. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Parker Harris sold 3,528 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $250.59, for a total transaction of $884,081.52. Following the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $29,464,622.79. The disclosure for this sale can be found here. Insiders have sold a total of 83,692 shares of company stock worth $21,006,957 over the last quarter. 3.20% of the stock is owned by corporate insiders.

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.