Salesforce, Inc. (NYSE:CRM) Shares Purchased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 21.3% in the 3rd quarter, Holdings Channel reports. The fund owned 225,367 shares of the CRM provider’s stock after buying an additional 39,578 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Salesforce were worth $61,685,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. Aviance Capital Partners LLC increased its stake in Salesforce by 0.5% in the third quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock valued at $1,860,000 after acquiring an additional 33 shares during the period. Umpqua Bank grew its position in Salesforce by 0.4% during the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after acquiring an additional 34 shares during the last quarter. Principal Street Partners LLC increased its holdings in Salesforce by 1.0% during the 3rd quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock valued at $891,000 after purchasing an additional 34 shares in the last quarter. Nvwm LLC boosted its stake in Salesforce by 1.4% in the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock worth $667,000 after purchasing an additional 36 shares in the last quarter. Finally, Prentice Wealth Management LLC grew its holdings in shares of Salesforce by 1.5% during the third quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock worth $686,000 after purchasing an additional 37 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the transaction, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 144,510 shares of company stock valued at $42,475,538. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Down 0.0 %

Shares of NYSE CRM opened at $329.99 on Friday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $348.86. The company has a market cap of $315.47 billion, a P/E ratio of 57.39, a P/E/G ratio of 2.99 and a beta of 1.29. 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 business has a 50-day simple moving average of $302.12 and a two-hundred day simple moving average of $270.65.

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

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 price target on shares of Salesforce in a report on Friday, September 20th. Oppenheimer reaffirmed an “outperform” rating and issued a $385.00 target price (up from $330.00) on shares of Salesforce in a research note on Thursday, November 21st. DA Davidson increased their price target on shares of Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Scotiabank initiated coverage on shares of Salesforce in a research report on Monday, November 18th. They issued a “sector outperform” rating and a $425.00 price objective for the company. Finally, Bank of America increased their price objective on Salesforce from $325.00 to $390.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $341.89.

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.