Salesforce, Inc. (NYSE:CRM) Holdings Increased by Eminence Capital LP

Eminence Capital LP lifted its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 375,723 shares of the CRM provider's stock after acquiring an additional 22,867 shares during the quarter. Salesforce comprises about 1.9% of Eminence Capital LP's investment portfolio, making the stock its 25th biggest holding. Eminence Capital LP's holdings in Salesforce were worth $125,615,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in shares of Salesforce by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock valued at $6,656,078,000 after buying an additional 175,035 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Salesforce by 1.4% in the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock worth $4,163,703,000 after acquiring an additional 177,321 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Salesforce by 18.3% during the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock valued at $3,752,830,000 after acquiring an additional 1,736,667 shares during the period. Norges Bank purchased a new stake in shares of Salesforce in the fourth quarter valued at $3,599,867,000. Finally, Price T Rowe Associates Inc. MD raised its position in Salesforce by 23.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider's stock valued at $2,988,422,000 after buying an additional 1,683,233 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $275.00, for a total transaction of $137,500.00. Following the sale, the chief accounting officer now directly owns 11,711 shares of the company's stock, valued at approximately $3,220,525. The trade was a 4.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider R David Schmaier sold 6,959 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the transaction, the insider now owns 36,090 shares of the company's stock, valued at $9,141,957.90. This represents a 16.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,830 shares of company stock worth $12,907,361. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Up 0.4 %

CRM stock opened at $273.65 on Wednesday. The business's 50-day simple moving average is $268.22 and its 200 day simple moving average is $307.43. 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 market cap of $263.08 billion, a PE ratio of 45.01, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were given a dividend of $0.42 per share. The ex-dividend date was Thursday, April 10th. This is a boost from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.61%. Salesforce's payout ratio is currently 26.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Stifel Nicolaus decreased their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Wells Fargo & Company decreased their price target on shares of Salesforce from $310.00 to $255.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. 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. Bank of America decreased their target price on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Salesforce in a research note on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $350.56.

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.

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