Salesforce Inc. (NYSE:CRM) Shares Acquired by Sustainable Growth Advisers LP

Sustainable Growth Advisers LP grew its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 37.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,627,118 shares of the CRM provider's stock after acquiring an additional 446,742 shares during the period. Salesforce comprises 2.4% of Sustainable Growth Advisers LP's investment portfolio, making the stock its 18th biggest holding. Sustainable Growth Advisers LP owned approximately 0.17% of Salesforce worth $436,653,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Seven Mile Advisory increased its stake in shares of Salesforce by 2.3% in the 4th quarter. Seven Mile Advisory now owns 1,762 shares of the CRM provider's stock valued at $589,000 after acquiring an additional 39 shares in the last quarter. Liberty One Investment Management LLC increased its stake in Salesforce by 1.2% during the 1st quarter. Liberty One Investment Management LLC now owns 3,165 shares of the CRM provider's stock valued at $849,000 after purchasing an additional 39 shares in the last quarter. First Command Advisory Services Inc. grew its stake in shares of Salesforce by 7.3% in the 1st quarter. First Command Advisory Services Inc. now owns 572 shares of the CRM provider's stock worth $154,000 after acquiring an additional 39 shares in the last quarter. Clarity Wealth Advisors LLC grew its stake in shares of Salesforce by 2.3% in the 1st quarter. Clarity Wealth Advisors LLC now owns 1,760 shares of the CRM provider's stock worth $472,000 after acquiring an additional 40 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC grew its stake in shares of Salesforce by 5.2% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 812 shares of the CRM provider's stock worth $218,000 after acquiring an additional 40 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In other news, insider Miguel Milano sold 405 shares of the company's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $262.35, for a total value of $106,251.75. Following the completion of the sale, the insider owned 9,933 shares of the company's stock, valued at $2,605,922.55. This represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc Benioff sold 2,250 shares of the company's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $262.93, for a total value of $591,592.50. Following the completion of the sale, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at $3,131,909,363.03. The trade was a 0.02% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,229 shares of company stock worth $8,492,036. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Up 1.3%

NYSE CRM traded up $3.55 during trading hours on Wednesday, hitting $267.14. 5,610,168 shares of the company were exchanged, compared to its average volume of 6,568,795. The company has a 50 day moving average of $268.96 and a two-hundred day moving average of $285.09. The firm has a market cap of $255.39 billion, a price-to-earnings ratio of 41.81, a PEG ratio of 2.39 and a beta of 1.36. Salesforce Inc. has a 52-week low of $230.00 and a 52-week high of $369.00. 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 (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. The business had revenue of $9.83 billion during 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 business's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.44 EPS. Equities research analysts anticipate that Salesforce Inc. will post 7.46 earnings per share 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 given a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend was Wednesday, June 18th. Salesforce's payout ratio is 25.98%.

Wall Street Analyst Weigh In

CRM has been the subject of several recent analyst reports. Citigroup reduced their target price on shares of Salesforce from $320.00 to $295.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. BMO Capital Markets dropped their price objective on shares of Salesforce from $350.00 to $335.00 and set an "outperform" rating on the stock in a report on Thursday, July 10th. Oppenheimer reaffirmed an "outperform" rating and set a $370.00 price objective on shares of Salesforce in a report on Tuesday, June 10th. Mizuho dropped their price objective on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a report on Thursday, May 15th. 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, July 14th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce has an average 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.