Intech Investment Management LLC Buys 483 Shares of Salesforce, Inc. (NYSE:CRM)

Intech Investment Management LLC raised its stake in Salesforce, Inc. (NYSE:CRM) by 0.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 202,557 shares of the CRM provider’s stock after purchasing an additional 483 shares during the quarter. Salesforce makes up about 0.6% of Intech Investment Management LLC’s portfolio, making the stock its 22nd biggest holding. Intech Investment Management LLC’s holdings in Salesforce were worth $55,442,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of CRM. EP Wealth Advisors LLC grew its stake in Salesforce by 20.8% in the first quarter. EP Wealth Advisors LLC now owns 26,451 shares of the CRM provider’s stock valued at $7,967,000 after purchasing an additional 4,553 shares in the last quarter. Axxcess Wealth Management LLC boosted its stake in shares of Salesforce by 21.4% during the 1st quarter. Axxcess Wealth Management LLC now owns 13,954 shares of the CRM provider’s stock worth $4,203,000 after acquiring an additional 2,461 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of Salesforce by 25.8% during the 1st quarter. Advisors Asset Management Inc. now owns 16,227 shares of the CRM provider’s stock worth $4,887,000 after acquiring an additional 3,327 shares during the period. Cadence Bank bought a new position in shares of Salesforce during the 1st quarter worth approximately $202,000. Finally, JT Stratford LLC boosted its stake in shares of Salesforce by 54.9% during the 1st quarter. JT Stratford LLC now owns 2,641 shares of the CRM provider’s stock worth $795,000 after acquiring an additional 936 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares in the company, valued at $1,998,741.74. This represents a 5.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Parker Harris sold 3,970 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total value of $1,178,057.80. Following the sale, the insider now owns 119,402 shares in the company, valued at approximately $35,431,349.48. The trade was a 3.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 136,117 shares of company stock worth $39,085,562. Insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Shares of CRM opened at $325.70 on Thursday. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $348.86. The business has a 50-day simple moving average of $291.21 and a two-hundred day simple moving average of $267.72. 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 stock has a market cap of $311.37 billion, a PE ratio of 56.64, a PEG ratio of 2.93 and a beta of 1.29.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the prior year, the firm earned $1.63 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

Wall Street Analyst Weigh In

CRM has been the subject of several research analyst reports. FBN Securities upgraded Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Canaccord Genuity Group lifted their target price on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. DA Davidson lifted their target price on Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Roth Mkm restated a “buy” rating and issued a $335.00 price target on shares of Salesforce in a research note on Thursday, August 29th. Finally, Raymond James boosted their price target on Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $326.19.

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.