Salesforce, Inc. (NYSE:CRM) Shares Bought by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV raised its holdings in Salesforce, Inc. (NYSE:CRM) by 0.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 170,106 shares of the CRM provider’s stock after acquiring an additional 1,328 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Salesforce were worth $43,734,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Salesforce by 1.2% during the first quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock valued at $25,490,446,000 after buying an additional 1,008,841 shares in the last quarter. Capital World Investors lifted its stake in Salesforce by 2.4% during the fourth quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock valued at $5,147,402,000 after buying an additional 457,463 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Salesforce by 5.2% during the fourth quarter. Fisher Asset Management LLC now owns 14,905,462 shares of the CRM provider’s stock valued at $3,922,223,000 after buying an additional 736,986 shares in the last quarter. Capital Research Global Investors lifted its stake in Salesforce by 26.9% during the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after buying an additional 3,044,611 shares in the last quarter. Finally, Capital International Investors lifted its stake in Salesforce by 3.0% during the first quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock valued at $4,251,592,000 after buying an additional 407,834 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Down 0.6 %

CRM stock opened at $255.32 on Wednesday. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a market cap of $247.41 billion, a PE ratio of 45.92, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29. The business’s 50-day simple moving average is $253.61 and its 200 day simple moving average is $267.11.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The business had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. Salesforce’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.63 earnings per share. On average, research analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 28.78%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. DA Davidson upped their target price on Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. BMO Capital Markets upped their target price on Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Evercore ISI reiterated an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a report on Monday, August 26th. Truist Financial reiterated a “buy” rating and issued a $300.00 target price on shares of Salesforce in a report on Friday, August 30th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Nine research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $305.55.

Insider Activity

In other news, insider Parker Harris sold 5,600 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $250.17, for a total transaction of $1,400,952.00. Following the sale, the insider now directly owns 116,693 shares in the company, valued at $29,193,087.81. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the sale, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Parker Harris sold 5,600 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $250.17, for a total value of $1,400,952.00. Following the completion of the sale, the insider now directly owns 116,693 shares in the company, valued at approximately $29,193,087.81. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,376 shares of company stock worth $15,878,005. Company insiders own 3.20% of the company’s stock.

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.