Vulcan Value Partners LLC Trims Stake in Salesforce, Inc. (NYSE:CRM)

Vulcan Value Partners LLC lowered its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 46.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 749,566 shares of the CRM provider's stock after selling 638,648 shares during the period. Salesforce makes up 4.2% of Vulcan Value Partners LLC's portfolio, making the stock its 12th largest holding. Vulcan Value Partners LLC owned 0.08% of Salesforce worth $250,551,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Invst LLC raised its position in shares of Salesforce by 4.2% in the third quarter. Invst LLC now owns 17,003 shares of the CRM provider's stock valued at $4,654,000 after buying an additional 685 shares in the last quarter. Passumpsic Savings Bank raised its position in shares of Salesforce by 1.2% in the third quarter. Passumpsic Savings Bank now owns 7,332 shares of the CRM provider's stock valued at $2,007,000 after buying an additional 87 shares in the last quarter. Anchor Investment Management LLC raised its position in shares of Salesforce by 15.7% in the third quarter. Anchor Investment Management LLC now owns 4,290 shares of the CRM provider's stock valued at $1,174,000 after buying an additional 581 shares in the last quarter. Pine Valley Investments Ltd Liability Co raised its position in shares of Salesforce by 14.0% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 7,047 shares of the CRM provider's stock valued at $1,930,000 after buying an additional 866 shares in the last quarter. Finally, World Investment Advisors LLC raised its position in shares of Salesforce by 570.4% in the third quarter. World Investment Advisors LLC now owns 54,446 shares of the CRM provider's stock valued at $14,903,000 after buying an additional 46,324 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Performance

CRM stock traded down $1.52 during midday trading on Wednesday, hitting $266.24. The company's stock had a trading volume of 1,368,955 shares, compared to its average volume of 6,917,554. The stock's 50-day moving average price is $271.56 and its 200 day moving average price is $308.10. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The stock has a market cap of $255.96 billion, a price-to-earnings ratio of 43.79, a PEG ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were given a $0.42 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 annualized dividend and a yield of 0.63%. This is a boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is currently 26.10%.

Insiders Place Their Bets

In other Salesforce news, insider Miguel Milano sold 458 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the sale, the insider now directly owns 5,864 shares in the company, valued at $1,805,936.08. The trade was a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $167,970.00. Following the sale, the chief accounting officer now owns 6,557 shares in the company, valued at approximately $2,202,758.58. The trade was a 7.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,051 shares of company stock valued at $15,027,714. Insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Macquarie reiterated a "neutral" rating and issued a $320.00 price target on shares of Salesforce in a research report on Thursday, March 20th. Cantor Fitzgerald initiated coverage on shares of Salesforce in a research report on Wednesday, April 23rd. They set an "overweight" rating and a $210.00 price objective for the company. Bank of America lowered their price objective on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. TD Cowen upgraded shares of Salesforce from a "hold" rating to a "buy" rating and boosted their price objective for the company from $380.00 to $400.00 in a research report on Friday, January 17th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $400.00 target price on shares of Salesforce in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have assigned a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $350.56.

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.