Salesforce, Inc. (NYSE:CRM) Stock Position Decreased by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 7.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,620 shares of the CRM provider’s stock after selling 2,450 shares during the period. Salesforce accounts for approximately 0.8% of Desjardins Global Asset Management Inc.’s holdings, making the stock its 19th biggest position. Desjardins Global Asset Management Inc.’s holdings in Salesforce were worth $7,531,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Signet Financial Management LLC acquired a new position in Salesforce during the 4th quarter valued at about $1,490,000. Main Street Research LLC lifted its stake in Salesforce by 1.3% during the fourth quarter. Main Street Research LLC now owns 101,820 shares of the CRM provider’s stock valued at $26,793,000 after purchasing an additional 1,282 shares during the last quarter. Suncoast Equity Management acquired a new stake in Salesforce during the fourth quarter valued at approximately $13,738,000. SVB Wealth LLC lifted its stake in Salesforce by 12.2% during the fourth quarter. SVB Wealth LLC now owns 21,869 shares of the CRM provider’s stock valued at $5,755,000 after purchasing an additional 2,372 shares during the last quarter. Finally, First American Trust FSB acquired a new stake in shares of Salesforce during the fourth quarter valued at approximately $290,000. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, COO Brian Millham sold 293,965 shares of the firm’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $280.00, for a total value of $82,310,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Sundeep G. Reddy sold 216 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total value of $60,201.36. Following the transaction, the chief accounting officer now owns 2,869 shares of the company’s stock, valued at approximately $799,618.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brian Millham sold 293,965 shares of the firm’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $280.00, for a total transaction of $82,310,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 897,375 shares of company stock worth $260,206,096. 3.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CRM shares. Stifel Nicolaus restated a “buy” rating and set a $350.00 price target on shares of Salesforce in a report on Wednesday, April 3rd. JPMorgan Chase & Co. boosted their price target on shares of Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Wolfe Research restated an “outperform” rating and set a $365.00 price target on shares of Salesforce in a report on Tuesday. Canaccord Genuity Group reiterated a “buy” rating and issued a $350.00 price objective on shares of Salesforce in a research note on Thursday, March 7th. Finally, Argus upped their price objective on shares of Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $307.87.

Salesforce Price Performance

Shares of Salesforce stock traded up $5.83 during mid-day trading on Tuesday, reaching $278.73. 5,175,456 shares of the stock were exchanged, compared to its average volume of 5,691,368. The company has a market cap of $270.37 billion, a price-to-earnings ratio of 66.40, a price-to-earnings-growth ratio of 2.26 and a beta of 1.28. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a 50-day simple moving average of $298.52 and a 200 day simple moving average of $260.26. Salesforce, Inc. has a fifty-two week low of $190.57 and a fifty-two week high of $318.71.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the company posted $1.01 EPS. On average, sell-side analysts predict that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s payout ratio is presently 9.52%.

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.