Salesforce, Inc. (NYSE:CRM) Stock Position Increased by Vision Capital Management Inc.

Vision Capital Management Inc. lifted its position in Salesforce, Inc. (NYSE:CRM) by 8.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,214 shares of the CRM provider’s stock after buying an additional 1,767 shares during the period. Vision Capital Management Inc.’s holdings in Salesforce were worth $5,711,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CRM. Norges Bank bought a new stake in shares of Salesforce in the 4th quarter worth $2,762,331,000. Capital International Investors raised its stake in shares of Salesforce by 76.4% in the 4th quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after buying an additional 5,935,973 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Salesforce by 26.9% in the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after buying an additional 3,044,611 shares in the last quarter. GQG Partners LLC bought a new stake in shares of Salesforce in the 1st quarter worth $910,220,000. Finally, Swedbank AB bought a new stake in shares of Salesforce in the 1st quarter worth $874,748,000. Institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In related news, insider Srinivas Tallapragada sold 942 shares of Salesforce stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $242.32, for a total transaction of $228,265.44. Following the sale, the insider now directly owns 22,154 shares of the company’s stock, valued at $5,368,357.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $229,434.66. Following the sale, the chief financial officer now directly owns 51,109 shares in the company, valued at approximately $13,072,660.02. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Srinivas Tallapragada sold 942 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $242.32, for a total transaction of $228,265.44. Following the completion of the transaction, the insider now directly owns 22,154 shares of the company’s stock, valued at approximately $5,368,357.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,892 shares of company stock worth $15,269,897. 3.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CRM shares. DA Davidson lifted their target price on Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Barclays decreased their target price on Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Robert W. Baird lifted their target price on Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Needham & Company LLC restated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a report on Friday. Finally, Sanford C. Bernstein lifted their target price on Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $304.41.

Salesforce Price Performance

Shares of NYSE:CRM opened at $245.76 on Tuesday. The company has a market cap of $238.14 billion, a price-to-earnings ratio of 44.20, a PEG ratio of 2.21 and a beta of 1.29. The business has a 50 day moving average price of $254.31 and a 200 day moving average price of $269.24. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The company had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.63 earnings per share. Research analysts predict that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be given a $0.40 dividend. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.65%. Salesforce’s dividend payout ratio is 28.78%.

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.