DE Burlo Group Inc. Has $4.42 Million Stake in Salesforce, Inc. (NYSE:CRM)

DE Burlo Group Inc. trimmed its stake in Salesforce, Inc. (NYSE:CRM) by 1.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,164 shares of the CRM provider’s stock after selling 260 shares during the period. DE Burlo Group Inc.’s holdings in Salesforce were worth $4,424,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Legal & General Group Plc increased its position in Salesforce by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after buying an additional 176,641 shares during the period. Massachusetts Financial Services Co. MA grew its position in Salesforce by 1.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after acquiring an additional 57,825 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Salesforce by 25.1% during the second quarter. Ameriprise Financial Inc. now owns 4,378,826 shares of the CRM provider’s stock worth $1,125,331,000 after purchasing an additional 877,495 shares during the last quarter. ValueAct Holdings L.P. boosted its holdings in Salesforce by 12.3% in the second quarter. ValueAct Holdings L.P. now owns 3,914,309 shares of the CRM provider’s stock valued at $1,006,369,000 after acquiring an additional 428,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Salesforce by 22.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,492,583 shares of the CRM provider’s stock valued at $897,935,000 after acquiring an additional 646,127 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Performance

CRM stock opened at $325.70 on Thursday. The firm has a market cap of $311.37 billion, a PE ratio of 56.64, a P/E/G ratio of 2.93 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 moving average of $291.21 and a 200-day moving average of $267.72. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $348.86.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same period in the prior year, the company earned $1.63 earnings per share. Salesforce’s revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is currently 27.83%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wedbush increased their target price on Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Jefferies Financial Group lifted their target price on Salesforce from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Canaccord Genuity Group raised their price target on Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. DA Davidson raised their price target on Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Finally, Cfra set a $343.00 target price on Salesforce in a research note on Thursday, October 17th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $326.19.

Insider Buying and Selling

In other news, insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total value of $608,108.04. Following the transaction, the insider now owns 828 shares in the company, valued at approximately $202,702.68. The trade was a 75.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at $1,998,741.74. The trade was a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 136,117 shares of company stock worth $39,085,562. Corporate 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.