MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Purchases 27,212 Shares of Salesforce, Inc. (NYSE:CRM)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 23.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 143,216 shares of the CRM provider’s stock after purchasing an additional 27,212 shares during the period. Salesforce accounts for 1.5% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings, making the stock its 29th biggest position. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Salesforce were worth $48,083,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Aviance Capital Partners LLC raised its holdings in Salesforce by 0.5% during the third quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock worth $1,860,000 after buying an additional 33 shares during the last quarter. EWA LLC raised its holdings in shares of Salesforce by 1.7% in the 3rd quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock worth $548,000 after acquiring an additional 33 shares during the last quarter. Umpqua Bank lifted its position in Salesforce by 0.4% in the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock valued at $2,110,000 after acquiring an additional 34 shares in the last quarter. Principal Street Partners LLC boosted its stake in Salesforce by 1.0% during the 3rd quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock valued at $891,000 after purchasing an additional 34 shares during the last quarter. Finally, Nvwm LLC increased its holdings in Salesforce by 1.4% during the 3rd quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock worth $667,000 after purchasing an additional 36 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Guggenheim cut Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective on the stock. in a research note on Monday, January 6th. Wells Fargo & Company upped their target price on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 12th. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a research report on Friday, December 13th. Finally, Robert W. Baird upped their price objective on shares of Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Stock Up 0.6 %

Shares of NYSE:CRM opened at $334.75 on Friday. The firm has a fifty day moving average price of $336.50 and a two-hundred day moving average price of $293.20. The company has a market cap of $320.36 billion, a price-to-earnings ratio of 55.06, a PEG ratio of 3.01 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the prior year, the business posted $1.62 EPS. Salesforce’s quarterly revenue was up 8.3% on a year-over-year basis. Analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Insider Buying and Selling

In other news, insider Parker Harris sold 4,200 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $298.04, for a total value of $1,251,768.00. Following the transaction, the insider now owns 119,402 shares of the company’s stock, valued at $35,586,572.08. This represents a 3.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,173,891 shares of company stock worth $402,840,388. Insiders own 3.20% of the company’s stock.

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.