OLD National Bancorp IN Has $19.93 Million Holdings in Salesforce, Inc. (NYSE:CRM)

OLD National Bancorp IN lessened its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 7.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,263 shares of the CRM provider's stock after selling 6,328 shares during the period. OLD National Bancorp IN's holdings in Salesforce were worth $19,929,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. OMC Financial Services LTD boosted its holdings in Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock valued at $3,808,000 after acquiring an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC lifted its position in Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock valued at $263,000 after purchasing an additional 31 shares during the period. Prossimo Advisors LLC boosted its stake in shares of Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock valued at $1,125,000 after purchasing an additional 32 shares during the last quarter. Mainstream Capital Management LLC grew its position in shares of Salesforce by 0.5% during the 4th quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider's stock worth $2,143,000 after buying an additional 33 shares during the period. Finally, Warren Street Wealth Advisors LLC raised its stake in shares of Salesforce by 3.9% during the fourth quarter. Warren Street Wealth Advisors LLC now owns 896 shares of the CRM provider's stock worth $300,000 after buying an additional 34 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on CRM. UBS Group lowered their target price on shares of Salesforce from $320.00 to $300.00 and set a "neutral" rating for the company in a report on Tuesday, May 27th. Stephens reduced their price target on Salesforce from $311.00 to $309.00 and set an "equal weight" rating on the stock in a research report on Friday, May 30th. The Goldman Sachs Group upped their price objective on Salesforce from $340.00 to $385.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Robert W. Baird cut their target price on Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. Finally, Stifel Nicolaus decreased their target price on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $346.34.

Salesforce Stock Performance

Shares of CRM stock traded down $2.15 on Monday, reaching $272.36. The stock had a trading volume of 5,725,209 shares, compared to its average volume of 6,586,570. Salesforce, Inc. has a 12 month low of $227.77 and a 12 month high of $369.00. The firm has a market capitalization of $260.38 billion, a price-to-earnings ratio of 44.80, a P/E/G ratio of 2.58 and a beta of 1.38. The firm's 50-day moving average is $266.57 and its two-hundred day moving average is $302.19. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

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, beating the consensus estimate of $2.55 by $0.03. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. During the same quarter in the prior year, the company earned $2.44 earnings per share. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. On average, research analysts expect that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be issued a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce's dividend payout ratio is currently 25.98%.

Insiders Place Their Bets

In other news, CEO Brian Millham sold 3,937 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the completion of the transaction, the chief executive officer now owns 5,518 shares of the company's stock, valued at approximately $1,570,312.44. The trade was a 41.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $275.00, for a total value of $137,500.00. Following the completion of the sale, the chief accounting officer now directly owns 11,711 shares in the company, valued at $3,220,525. This trade represents a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,332 shares of company stock worth $11,024,802 in the last quarter. 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.