Salesforce, Inc. (NYSE:CRM) Shares Acquired by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.6% in the 2nd quarter, Holdings Channel reports. The firm owned 89,005 shares of the CRM provider’s stock after purchasing an additional 557 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Salesforce were worth $22,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Spartan Planning & Wealth Management lifted its holdings in shares of Salesforce by 66.3% in the 4th quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock worth $412,000 after purchasing an additional 625 shares during the last quarter. Parnassus Investments LLC boosted its holdings in shares of Salesforce by 0.3% during the fourth quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock valued at $1,566,055,000 after acquiring an additional 18,397 shares during the period. TD Asset Management Inc grew its position in shares of Salesforce by 32.6% during the fourth quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock worth $207,756,000 after acquiring an additional 194,224 shares during the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of Salesforce by 1.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 7,160 shares of the CRM provider’s stock worth $1,983,000 after acquiring an additional 95 shares during the period. Finally, M&G Plc acquired a new stake in shares of Salesforce in the 1st quarter worth about $2,178,000. 80.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Roth Mkm reissued a “buy” rating and set a $335.00 target price on shares of Salesforce in a research note on Thursday, August 29th. Stifel Nicolaus increased their price objective on Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. UBS Group lifted their target price on Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reduced their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Finally, Loop Capital lifted their price objective on shares of Salesforce from $240.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $305.55.

Insider Buying and Selling

In other Salesforce news, insider Sabastian Niles sold 2,484 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total value of $608,108.04. Following the completion of the transaction, the insider now owns 828 shares of the company’s stock, valued at approximately $202,702.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total transaction of $608,108.04. Following the sale, the insider now directly owns 828 shares in the company, valued at approximately $202,702.68. 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. Insiders have sold a total of 62,376 shares of company stock valued at $15,878,005 over the last three months. 3.20% of the stock is owned by corporate insiders.

Salesforce Price Performance

Shares of NYSE:CRM opened at $255.32 on Wednesday. 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 price of $253.61 and a 200 day moving average price of $267.11. The company has a market cap of $247.41 billion, a price-to-earnings ratio of 45.92, a PEG ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71.

Salesforce (NYSE:CRM) last posted 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 company had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the prior year, the business earned $1.63 earnings per share. Salesforce’s revenue for the quarter was up 8.5% compared to the same quarter last year. Research analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Wednesday, September 18th. Salesforce’s payout ratio is presently 28.78%.

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.