IFM Investors Pty Ltd Sells 227 Shares of Salesforce, Inc. (NYSE:CRM)

by · The Markets Daily

IFM Investors Pty Ltd decreased its position in shares of Salesforce, Inc. (NYSE:CRM – Free Report) by 0.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 200,154 shares of the CRM provider’s stock after selling 227 shares during the quarter. Salesforce makes up 0.5% of IFM Investors Pty Ltd’s holdings, making the stock its 28th largest holding. IFM Investors Pty Ltd’s holdings in Salesforce were worth $54,784,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CRM. JPMorgan Chase & Co. lifted their price target on Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. BMO Capital Markets lifted their price target on Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Sanford C. Bernstein lifted their price target on Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Raymond James lifted their price target on Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Robert W. Baird boosted their price objective on Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $312.51.

View Our Latest Stock Report on Salesforce

Salesforce Stock Up 0.7 %

CRM stock traded up $2.10 during trading on Thursday, hitting $286.53. 1,128,266 shares of the company’s stock were exchanged, compared to its average volume of 6,339,101. The business has a 50-day moving average price of $268.70 and a two-hundred day moving average price of $263.24. The stock has a market capitalization of $277.65 billion, a price-to-earnings ratio of 51.54, a PEG ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM – Get Free Report) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping 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 firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the business earned $1.63 earnings per share. The firm’s revenue was up 8.5% compared to the same quarter last year. As a group, equities research analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now owns 7,006 shares in the company, valued at $1,998,741.74. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Parker Harris sold 4,200 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 117,581 shares in the company, valued at approximately $30,251,239.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the 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 transaction, the chief accounting officer now owns 7,006 shares in the company, valued at $1,998,741.74. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 86,812 shares of company stock worth $23,418,916 over the last 90 days. 3.20% of the stock is currently owned by insiders.

Salesforce Company Profile

(Free Report)

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.

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