Salesforce Inc. (NYSE:CRM) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. grew its position in Salesforce Inc. (NYSE:CRM - Free Report) by 0.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 506,104 shares of the CRM provider's stock after buying an additional 3,940 shares during the period. Victory Capital Management Inc. owned 0.05% of Salesforce worth $135,818,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CRM. Millstone Evans Group LLC acquired a new position in Salesforce during the 4th quarter valued at approximately $823,000. Heartland Bank & Trust Co increased its stake in Salesforce by 117.2% during the 1st quarter. Heartland Bank & Trust Co now owns 5,981 shares of the CRM provider's stock valued at $1,605,000 after purchasing an additional 3,227 shares in the last quarter. Elwood Capital Partners LP acquired a new position in Salesforce during the 4th quarter valued at approximately $1,337,000. Strategic Blueprint LLC increased its stake in Salesforce by 13.5% during the 1st quarter. Strategic Blueprint LLC now owns 23,828 shares of the CRM provider's stock valued at $6,394,000 after purchasing an additional 2,837 shares in the last quarter. Finally, Bestgate Wealth Advisors LLC acquired a new stake in Salesforce during the 4th quarter valued at approximately $441,000. 80.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Srinivas Tallapragada sold 1,269 shares of the firm's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $262.35, for a total transaction of $332,922.15. Following the completion of the sale, the insider directly owned 42,678 shares in the company, valued at approximately $11,196,573.30. This trade represents a 2.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $257.02, for a total transaction of $578,295.00. Following the sale, the chief executive officer owned 11,911,571 shares of the company's stock, valued at approximately $3,061,511,978.42. The trade was a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,819 shares of company stock valued at $9,111,823 in the last ninety days. 3.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CRM shares. Wells Fargo & Company upped their price objective on shares of Salesforce from $255.00 to $275.00 and gave the company an "equal weight" rating in a report on Thursday, May 29th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $275.00 price objective on shares of Salesforce in a report on Monday. Needham & Company LLC reaffirmed a "buy" rating and issued a $400.00 price objective on shares of Salesforce in a report on Wednesday, May 28th. 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. Finally, Barclays dropped their price objective on shares of Salesforce from $425.00 to $347.00 and set an "overweight" rating on the stock in a report on Thursday, May 29th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, Salesforce has an average rating of "Moderate Buy" and an average price target of $348.16.

Salesforce Price Performance

Shares of NYSE CRM traded up $2.52 during mid-day trading on Friday, reaching $262.40. The company's stock had a trading volume of 6,376,432 shares, compared to its average volume of 6,554,676. The stock has a 50-day moving average of $270.71 and a two-hundred day moving average of $286.99. The stock has a market capitalization of $250.85 billion, a P/E ratio of 41.06, a P/E/G ratio of 2.34 and a beta of 1.36. 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 Inc. has a 1-year low of $230.00 and a 1-year high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating analysts' consensus estimates 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 net margin of 16.08% and a return on equity of 12.94%. The company's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.44 earnings per share. On average, equities research analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors 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 0.63%. The ex-dividend date was Wednesday, June 18th. Salesforce's payout ratio is currently 25.98%.

About Salesforce

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.