Flputnam Investment Management Co. increased its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 19.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 95,730 shares of the CRM provider's stock after acquiring an additional 15,749 shares during the quarter. Flputnam Investment Management Co.'s holdings in Salesforce were worth $25,690,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. AIA Group Ltd increased its position in Salesforce by 8.0% during the first quarter. AIA Group Ltd now owns 32,885 shares of the CRM provider's stock worth $8,825,000 after acquiring an additional 2,436 shares during the period. Notis McConarty Edward increased its position in Salesforce by 71.6% during the first quarter. Notis McConarty Edward now owns 3,844 shares of the CRM provider's stock worth $1,032,000 after acquiring an additional 1,604 shares during the period. Aberdeen Group plc increased its position in Salesforce by 1.5% during the first quarter. Aberdeen Group plc now owns 1,036,482 shares of the CRM provider's stock worth $274,802,000 after acquiring an additional 15,782 shares during the period. Leith Wheeler Investment Counsel Ltd. raised its position in shares of Salesforce by 43.0% in the 1st quarter. Leith Wheeler Investment Counsel Ltd. now owns 104,834 shares of the CRM provider's stock valued at $28,133,000 after buying an additional 31,537 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt boosted its stake in shares of Salesforce by 121.9% in the 1st quarter. Alecta Tjanstepension Omsesidigt now owns 355,000 shares of the CRM provider's stock valued at $95,222,000 after purchasing an additional 195,000 shares in the last quarter. 80.43% of the stock is owned by institutional investors.
Insider Transactions at Salesforce
In other Salesforce news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $248.56, for a total value of $559,260.00. Following the sale, the chief executive officer owned 11,911,571 shares of the company's stock, valued at $2,960,740,087.76. The trade was a 0.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 59,327 shares of company stock valued at $15,201,738. Insiders own 3.00% of the company's stock.
Salesforce Stock Up 0.7%
NYSE CRM opened at $256.37 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. Salesforce Inc. has a 12 month low of $226.48 and a 12 month high of $369.00. The stock's 50 day moving average is $257.34 and its 200 day moving average is $269.27. The stock has a market cap of $245.09 billion, a PE ratio of 40.12, a P/E/G ratio of 2.33 and a beta of 1.37.
Salesforce (NYSE:CRM - Get Free Report) last released 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. Salesforce had a return on equity of 12.94% and a net margin of 16.08%.The business had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. During the same quarter in the previous year, the company posted $2.44 EPS. The company's revenue was up 7.6% compared to the same quarter last year. Research analysts predict that Salesforce Inc. will post 7.46 EPS for the current fiscal year.
Salesforce Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were paid a $0.416 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a yield of 0.6%. Salesforce's payout ratio is presently 25.98%.
Analyst Ratings Changes
CRM has been the subject of several research analyst reports. Erste Group Bank lowered shares of Salesforce from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Sanford C. Bernstein upped their price objective on shares of Salesforce from $243.00 to $255.00 and gave the company an "underperform" rating in a report on Thursday, May 29th. The Goldman Sachs Group upped their price objective on shares of Salesforce from $340.00 to $385.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Morgan Stanley reiterated an "overweight" rating and set a $404.00 price target (up from $393.00) on shares of Salesforce in a research report on Thursday, May 29th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $275.00 price target on shares of Salesforce in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $341.47.
Get Our Latest Analysis on Salesforce
Salesforce Profile
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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.
Further Reading
Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce Inc. (NYSE:CRM - Free Report).
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