Junto Capital Management LP Sells 214,377 Shares of Salesforce, Inc. (NYSE:CRM)

Junto Capital Management LP lessened its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 57.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 157,911 shares of the CRM provider's stock after selling 214,377 shares during the period. Junto Capital Management LP's holdings in Salesforce were worth $52,794,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bernard Wealth Management Corp. bought a new position in Salesforce during the fourth quarter valued at $25,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce during the fourth quarter valued at approximately $27,000. Arlington Trust Co LLC boosted its holdings in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc bought a new stake in Salesforce during the 4th quarter valued at about $30,000. Finally, Asset Planning Inc purchased a new position in shares of Salesforce during the fourth quarter worth approximately $31,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $400.00 target price on shares of Salesforce in a research report on Friday, April 25th. TD Cowen raised shares of Salesforce from a "hold" rating to a "buy" rating and raised their target price for the company from $380.00 to $400.00 in a research report on Friday, January 17th. Cantor Fitzgerald began coverage on shares of Salesforce in a research note on Wednesday, April 23rd. They set an "overweight" rating and a $210.00 price objective on the stock. Citigroup reissued a "buy" rating on shares of Salesforce in a research note on Wednesday, March 19th. Finally, Bank of America lowered their price target on Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $350.56.

Salesforce Price Performance

CRM stock traded up $2.79 during midday trading on Tuesday, reaching $291.61. 1,220,359 shares of the company's stock traded hands, compared to its average volume of 6,823,186. 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 company has a 50-day simple moving average of $267.27 and a two-hundred day simple moving average of $307.35. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a market cap of $280.35 billion, a price-to-earnings ratio of 48.00, a PEG ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were issued a $0.42 dividend. This is a positive change from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce's dividend payout ratio is currently 26.10%.

Insider Buying and Selling

In other Salesforce news, insider Miguel Milano sold 458 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $307.97, for a total value of $141,050.26. Following the transaction, the insider now directly owns 5,864 shares of the company's stock, valued at $1,805,936.08. This represents a 7.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $275.00, for a total value of $137,500.00. Following the sale, the chief accounting officer now owns 11,711 shares in the company, valued at approximately $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 a total of 45,830 shares of company stock valued at $12,907,361 over the last three months. Company insiders own 3.20% of the company's stock.

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.