Salesforce Inc. (NYSE:CRM) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 2.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,205,584 shares of the CRM provider's stock after acquiring an additional 26,529 shares during the quarter. Salesforce accounts for about 0.5% of New York State Common Retirement Fund's portfolio, making the stock its 28th biggest holding. New York State Common Retirement Fund owned 0.13% of Salesforce worth $323,531,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRM. Geode Capital Management LLC boosted its position 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 during the last quarter. Northern Trust Corp raised its holdings in Salesforce by 18.3% in the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock valued at $3,752,830,000 after acquiring an additional 1,736,667 shares during the last quarter. Norges Bank purchased a new position in Salesforce in the 4th quarter worth approximately $3,599,867,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Salesforce by 23.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider's stock worth $2,988,422,000 after purchasing an additional 1,683,233 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Salesforce by 7.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,658,132 shares of the CRM provider's stock worth $2,894,673,000 after purchasing an additional 602,445 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 1,142 shares of the company's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total value of $299,603.70. Following the completion of the transaction, the insider owned 136,824 shares in the company, valued at $35,895,776.40. This represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Miguel Milano sold 405 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $262.35, for a total value of $106,251.75. Following the completion of the sale, the insider directly owned 9,933 shares of the company's stock, valued at $2,605,922.55. The trade was a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,284 shares of company stock worth $9,444,537. 3.20% of the stock is owned by insiders.

Salesforce Stock Down 2.2%

Salesforce stock traded down $5.74 during trading on Friday, reaching $258.23. The stock had a trading volume of 7,004,264 shares, compared to its average volume of 6,547,931. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. Salesforce Inc. has a 52-week low of $230.00 and a 52-week high of $369.00. The stock has a market cap of $246.87 billion, a PE ratio of 40.41, a P/E/G ratio of 2.34 and a beta of 1.36. The business has a 50 day moving average price of $272.09 and a 200 day moving average price of $288.86.

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 the consensus estimate of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The business had revenue of $9.83 billion during the quarter, compared to analysts' expectations of $9.74 billion. During the same period in the previous year, the company earned $2.44 EPS. The company's revenue for the quarter was up 7.6% on a year-over-year basis. On average, analysts predict that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The business also recently declared 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 was Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.64%. Salesforce's dividend payout ratio is currently 25.98%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CRM. Barclays dropped their target price on Salesforce from $425.00 to $347.00 and set an "overweight" rating for the company in a report on Thursday, May 29th. Erste Group Bank lowered shares of Salesforce from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. BMO Capital Markets cut their price objective on shares of Salesforce from $350.00 to $335.00 and set an "outperform" rating for the company in a research report on Thursday. Royal Bank Of Canada downgraded shares of Salesforce from an "outperform" rating to a "sector perform" rating and reduced their target price for the stock from $420.00 to $275.00 in a research note on Thursday, May 29th. Finally, JMP Securities reissued a "market outperform" rating and issued a $430.00 price target on shares of Salesforce in a research note on Friday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has a consensus rating of "Moderate Buy" and a consensus price target of $348.16.

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.