Rhumbline Advisers Has $594.36 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Rhumbline Advisers decreased its position in Salesforce, Inc. (NYSE:CRM) by 3.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,777,774 shares of the CRM provider’s stock after selling 56,010 shares during the period. Salesforce comprises about 0.5% of Rhumbline Advisers’ investment portfolio, making the stock its 23rd biggest holding. Rhumbline Advisers owned 0.19% of Salesforce worth $594,363,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Veritas Asset Management LLP acquired a new stake in Salesforce during the 3rd quarter worth about $733,805,000. Jennison Associates LLC lifted its position in shares of Salesforce by 52.7% in the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after purchasing an additional 1,530,572 shares in the last quarter. Swedbank AB grew its position in Salesforce by 46.7% during the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock valued at $1,280,408,000 after purchasing an additional 1,219,254 shares in the last quarter. KBC Group NV grew its position in Salesforce by 171.2% during the third quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock valued at $447,470,000 after purchasing an additional 1,032,068 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in Salesforce by 23,664.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock valued at $274,490,000 after buying an additional 998,628 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Performance

NYSE:CRM opened at $325.49 on Friday. 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 firm has a 50-day moving average price of $337.29 and a 200 day moving average price of $302.33. The firm has a market capitalization of $311.49 billion, a PE ratio of 53.53, a price-to-earnings-growth ratio of 2.66 and a beta of 1.31. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

Salesforce (NYSE:CRM) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter last year, the business earned $1.62 EPS. Salesforce’s quarterly revenue was up 8.3% compared to the same quarter last year. Research analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of research reports. Stifel Nicolaus upped their price target on shares of Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Robert W. Baird upped their target price on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Scotiabank lifted their price target on Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. Macquarie restated a “neutral” rating and issued a $370.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Finally, Barclays lifted their target price on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

Insider Activity at Salesforce

In other Salesforce news, insider Miguel Milano sold 719 shares of Salesforce stock in a transaction on Monday, November 25th. The stock was sold at an average price of $342.81, for a total value of $246,480.39. Following the completion of the transaction, the insider now owns 4,659 shares in the company, valued at approximately $1,597,151.79. The trade was a 13.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Brian Millham sold 14,808 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $338.95, for a total value of $5,019,171.60. The disclosure for this sale can be found here. Insiders sold 1,111,420 shares of company stock valued at $384,366,700 in the last ninety days. Insiders own 3.20% of the company’s stock.

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.