Diversified Trust Co Has $5.73 Million Stock Position in Salesforce Inc. (NYSE:CRM)

Diversified Trust Co raised its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 34.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,356 shares of the CRM provider's stock after buying an additional 5,457 shares during the quarter. Diversified Trust Co's holdings in Salesforce were worth $5,731,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CRM. Geode Capital Management LLC boosted its stake in Salesforce by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock worth $6,656,078,000 after acquiring an additional 175,035 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Salesforce by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock valued at $4,163,703,000 after purchasing an additional 177,321 shares during the period. Northern Trust Corp boosted its position in shares of Salesforce by 18.3% during the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock worth $3,752,830,000 after purchasing an additional 1,736,667 shares in the last quarter. Norges Bank acquired a new stake in shares of Salesforce in the 4th quarter valued at about $3,599,867,000. Finally, Price T Rowe Associates Inc. MD increased its position in Salesforce by 23.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider's stock valued at $2,988,422,000 after buying an additional 1,683,233 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CRM has been the subject of a number of research reports. Loop Capital reduced their price objective on Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. Sanford C. Bernstein lifted their price target on shares of Salesforce from $243.00 to $255.00 and gave the company an "underperform" rating in a research report on Thursday, May 29th. DA Davidson restated an "underperform" rating and set a $200.00 price target on shares of Salesforce in a research note on Wednesday, May 28th. Stephens dropped their price objective on shares of Salesforce from $311.00 to $309.00 and set an "equal weight" rating on the stock in a research note on Friday, May 30th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $404.00 price objective (up from $393.00) on shares of Salesforce in a report on Thursday, May 29th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $349.08.

Salesforce Trading Up 1.0%

NYSE:CRM opened at $270.50 on Friday. Salesforce Inc. has a 1 year low of $230.00 and a 1 year high of $369.00. The stock's fifty day moving average price is $269.86 and its two-hundred day moving average price is $295.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market cap of $258.60 billion, a P/E ratio of 42.33, a P/E/G ratio of 2.43 and a beta of 1.38.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. The business had revenue of $9.83 billion for the quarter, compared to analysts' expectations of $9.74 billion. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The firm's quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.44 EPS. As a group, analysts expect that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be paid a $0.416 dividend. This represents a $1.66 annualized dividend and a yield of 0.62%. The ex-dividend date is Wednesday, June 18th. Salesforce's dividend payout ratio is presently 25.98%.

Insiders Place Their Bets

In other news, insider Miguel Milano sold 405 shares of the business's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $262.35, for a total transaction of $106,251.75. Following the completion of the transaction, the insider now owns 9,933 shares of the company's stock, valued at approximately $2,605,922.55. The trade was a 3.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Oscar Munoz bought 3,882 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was bought at an average cost of $257.28 per share, for a total transaction of $998,760.96. Following the completion of the purchase, the director now directly owns 11,843 shares of the company's stock, valued at $3,046,967.04. This represents a 48.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 26,284 shares of company stock worth $6,996,762 in the last three months. 3.20% of the stock is currently 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.

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