Salesforce Inc. (NYSE:CRM) Shares Acquired by Quilter Plc

Quilter Plc increased its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 42.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 200,407 shares of the CRM provider's stock after buying an additional 60,099 shares during the quarter. Quilter Plc's holdings in Salesforce were worth $53,781,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CRM. Norges Bank purchased a new stake in shares of Salesforce during the fourth quarter worth approximately $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Salesforce by 926.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider's stock valued at $1,422,979,000 after buying an additional 3,841,521 shares during the period. GAMMA Investing LLC raised its position in Salesforce by 30,456.9% during the 1st quarter. GAMMA Investing LLC now owns 3,801,588 shares of the CRM provider's stock worth $1,020,194,000 after buying an additional 3,789,147 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Salesforce in the 4th quarter worth $1,173,564,000. Finally, Invesco Ltd. boosted its holdings in shares of Salesforce by 42.5% in the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock valued at $2,604,770,000 after acquiring an additional 2,325,156 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Stock Performance

Shares of NYSE CRM opened at $270.50 on Friday. The stock has a market capitalization of $258.60 billion, a PE ratio of 42.33, a price-to-earnings-growth ratio of 2.43 and a beta of 1.38. Salesforce Inc. has a 52 week low of $230.00 and a 52 week high of $369.00. The stock has a 50 day moving average price of $269.86 and a 200 day moving average price of $295.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings results 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 12.94% and a net margin of 16.08%. The business had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. During the same quarter last year, the firm posted $2.44 EPS. The company's quarterly revenue was up 7.6% on a year-over-year basis. Analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

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

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Robert W. Baird decreased their target price on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Guggenheim raised shares of Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. Stephens reduced their target price 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. Erste Group Bank lowered shares of Salesforce from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Finally, Scotiabank lowered their target price on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a report on Monday, March 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $349.08.

Insider Buying and Selling at Salesforce

In related news, insider R David Schmaier sold 6,959 shares of the company's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the sale, the insider now owns 36,090 shares in the company, valued at approximately $9,141,957.90. This represents a 16.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Oscar Munoz bought 3,882 shares of the stock in a transaction dated Thursday, April 3rd. The stock was purchased at an average price of $257.28 per share, with a total value of $998,760.96. Following the acquisition, the director now owns 11,843 shares of the company's stock, valued at $3,046,967.04. The trade was 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 over the last quarter. Corporate insiders own 3.20% of the company's stock.

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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