Mediolanum International Funds Ltd Has $72.84 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Mediolanum International Funds Ltd lifted its position in Salesforce, Inc. (NYSE:CRM) by 9.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 263,740 shares of the CRM provider’s stock after acquiring an additional 23,710 shares during the period. Salesforce makes up approximately 0.9% of Mediolanum International Funds Ltd’s holdings, making the stock its 21st biggest holding. Mediolanum International Funds Ltd’s holdings in Salesforce were worth $72,840,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CRM. Capital Research Global Investors raised its position in shares of Salesforce by 26.9% in the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after acquiring an additional 3,044,611 shares during the period. GQG Partners LLC bought a new stake in Salesforce during the 1st quarter worth approximately $910,220,000. Swedbank AB bought a new stake in Salesforce during the 1st quarter worth approximately $874,748,000. Massachusetts Financial Services Co. MA increased its stake in Salesforce by 48.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after purchasing an additional 1,922,674 shares in the last quarter. Finally, AMF Tjanstepension AB increased its stake in Salesforce by 376.1% during the 2nd quarter. AMF Tjanstepension AB now owns 1,442,453 shares of the CRM provider’s stock worth $370,873,000 after purchasing an additional 1,139,472 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Price Performance

Salesforce stock traded up $5.62 during midday trading on Friday, reaching $292.38. The company’s stock had a trading volume of 1,037,389 shares, compared to its average volume of 6,323,548. The stock has a market cap of $283.32 billion, a PE ratio of 51.57, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $268.70 and a 200-day moving average price of $263.24. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS 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 for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the prior year, the business posted $1.63 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. On average, sell-side analysts predict that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.55%. Salesforce’s dividend payout ratio is presently 28.78%.

Insider Activity

In other news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $257.28, for a total value of $1,080,576.00. Following the completion of the sale, the insider now directly owns 117,581 shares in the company, valued at $30,251,239.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Miguel Milano sold 2,934 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $262.95, for a total value of $771,495.30. Following the completion of the transaction, the insider now directly owns 3,716 shares in the company, valued at approximately $977,122.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $257.28, for a total transaction of $1,080,576.00. Following the completion of the transaction, the insider now owns 117,581 shares of the company’s stock, valued at $30,251,239.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,812 shares of company stock worth $23,418,916 in the last three months. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CRM shares. Citigroup increased their target price on Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Wells Fargo & Company raised their price target on shares of Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 29th. Evercore ISI reaffirmed an “outperform” rating and set a $300.00 price target on shares of Salesforce in a research note on Monday, August 26th. Sanford C. Bernstein raised their price target on shares of Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 price target on shares of Salesforce in a research note on Friday, September 20th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $312.51.

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.