Salesforce, Inc. (NYSE:CRM) Shares Acquired by Sustainable Insight Capital Management LLC

Sustainable Insight Capital Management LLC increased its holdings in Salesforce, Inc. (NYSE:CRM) by 28.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 899 shares of the CRM provider’s stock after purchasing 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 Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. lifted its holdings in Salesforce by 6.9% in the fourth quarter. Gilbert & Cook Inc. now owns 5,659 shares of the CRM provider’s stock worth $1,489,000 after purchasing an additional 366 shares during the period. Aveo Capital Partners LLC lifted its stake in shares of Salesforce by 44.7% in the 4th quarter. Aveo Capital Partners LLC now owns 1,605 shares of the CRM provider’s stock worth $422,000 after acquiring an additional 496 shares during the period. 9258 Wealth Management LLC boosted its holdings in shares of Salesforce by 24.0% in the fourth quarter. 9258 Wealth Management LLC now owns 6,483 shares of the CRM provider’s stock valued at $1,706,000 after acquiring an additional 1,253 shares in the last quarter. Gryphon Financial Partners LLC increased its stake in shares of Salesforce by 32.4% during the fourth quarter. Gryphon Financial Partners LLC now owns 3,960 shares of the CRM provider’s stock valued at $1,064,000 after acquiring an additional 970 shares during the period. Finally, Ethos Financial Group LLC acquired a new position in shares of Salesforce during the fourth quarter valued at approximately $218,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Price Performance

NYSE CRM opened at $244.02 on Friday. The company has a market cap of $236.46 billion, a P/E ratio of 43.89, a P/E/G ratio of 2.22 and a beta of 1.29. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The company has a current ratio of 1.04, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $254.52 and a 200 day simple moving average of $269.79.

Salesforce (NYSE:CRM) last posted 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. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.63 earnings per share. On average, sell-side analysts predict that Salesforce, Inc. will post 7.52 EPS for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.66%. The ex-dividend date is Wednesday, September 18th. Salesforce’s payout ratio is currently 28.78%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CRM. Oppenheimer upped their target price on Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Robert W. Baird upped their price objective on Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. TD Cowen boosted their price target on shares of Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. Morgan Stanley raised their price objective on shares of Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $304.41.

Insiders Place Their Bets

In related news, CAO Sundeep G. Reddy sold 413 shares of the 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 completion of the sale, the chief accounting officer now owns 6,431 shares in the company, valued at $1,644,921.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $241.74, for a total value of $3,626,100.00. Following the sale, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at approximately $2,940,152,355.18. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction 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 transaction, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at $1,644,921.18. The disclosure for this sale can be found here. Insiders have sold 83,692 shares of company stock worth $21,006,957 in the last ninety days. Insiders own 3.20% of the company’s stock.

Salesforce Company 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.