Mitsubishi UFJ Asset Management UK Ltd. Acquires 5,600 Shares of Salesforce, Inc. (NYSE:CRM)

Mitsubishi UFJ Asset Management UK Ltd. boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 560.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,600 shares of the CRM provider’s stock after acquiring an additional 5,600 shares during the period. Salesforce accounts for 1.0% of Mitsubishi UFJ Asset Management UK Ltd.’s holdings, making the stock its 29th biggest position. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Salesforce were worth $2,207,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Veritas Asset Management LLP bought a new position in Salesforce during the 3rd quarter worth $733,805,000. KBC Group NV increased its position in Salesforce by 171.2% during the 3rd quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock worth $447,470,000 after buying an additional 1,032,068 shares during the period. International Assets Investment Management LLC increased its position in Salesforce by 23,664.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock worth $274,490,000 after buying an additional 998,628 shares during the period. Farallon Capital Management LLC increased its position in Salesforce by 51.0% during the 2nd quarter. Farallon Capital Management LLC now owns 2,946,838 shares of the CRM provider’s stock worth $757,632,000 after buying an additional 994,670 shares during the period. Finally, Ameriprise Financial Inc. increased its position in Salesforce by 25.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,378,826 shares of the CRM provider’s stock worth $1,125,331,000 after buying an additional 877,495 shares during the period. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. UBS Group increased their price objective on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. raised their price target on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. DA Davidson raised their price target on Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. BMO Capital Markets raised their price target on Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada raised their price target on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned 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, the company currently has an average rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Price Performance

Shares of NYSE:CRM opened at $326.85 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The stock’s 50 day moving average is $336.97 and its 200-day moving average is $292.47. The firm has a market capitalization of $312.79 billion, a price-to-earnings ratio of 53.76, a PEG ratio of 2.93 and a beta of 1.30.

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

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders 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 payout ratio is 26.32%.

Insider Transactions at Salesforce

In related news, Director G Mason Morfit sold 722,300 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the completion of the sale, the director now directly owns 3,192,009 shares of the company’s stock, valued at approximately $1,104,786,234.99. This represents a 18.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Brian Millham sold 969 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $286.56, for a total value of $277,676.64. The disclosure for this sale can be found here. Insiders have sold 1,172,167 shares of company stock valued at $402,223,235 over the last ninety days. 3.20% of the stock is owned by company insiders.

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.