Salesforce, Inc. (NYSE:CRM) Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd trimmed its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 2.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 148,477 shares of the CRM provider's stock after selling 3,067 shares during the period. USS Investment Management Ltd's holdings in Salesforce were worth $49,666,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Salesforce in the 4th quarter worth approximately $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of 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 worth $1,422,979,000 after acquiring an additional 3,841,521 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Salesforce in the 4th quarter worth approximately $1,173,564,000. Invesco Ltd. raised its holdings in shares of Salesforce by 42.5% in the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock worth $2,604,770,000 after purchasing an additional 2,325,156 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Salesforce by 18.3% in the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock worth $3,752,830,000 after purchasing an additional 1,736,667 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CRM. BMO Capital Markets restated an "outperform" rating on shares of Salesforce in a report on Wednesday, March 19th. Westpark Capital restated a "buy" rating and set a $320.00 price target on shares of Salesforce in a report on Wednesday, April 30th. Cantor Fitzgerald began coverage on shares of Salesforce in a research note on Wednesday, April 23rd. They issued an "overweight" rating and a $210.00 price objective on the stock. Robert W. Baird dropped their price objective on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. Finally, Morgan Stanley dropped their price objective on shares of Salesforce from $405.00 to $393.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat, Salesforce has an average rating of "Moderate Buy" and a consensus target price of $351.59.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 1,909 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $543,263.22. Following the sale, the chief accounting officer now owns 11,310 shares in the company, valued at $3,218,599.80. This represents a 14.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value of $1,872,521.00. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares of the company's stock, valued at $14,071,750. The trade was a 11.74% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 46,306 shares of company stock valued at $12,841,368. Insiders own 3.20% of the company's stock.

Salesforce Stock Performance

Salesforce stock traded up $0.80 during midday trading on Thursday, reaching $283.08. The stock had a trading volume of 6,638,753 shares, compared to its average volume of 6,911,387. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $272.15 billion, a PE ratio of 46.56, a P/E/G ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The firm's 50-day moving average price is $268.53 and its 200 day moving average price is $306.85.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were issued a $0.42 dividend. This is a boost from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.59%. Salesforce's payout ratio is 26.10%.

Salesforce Company 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.