Salesforce, Inc. (NYSE:CRM) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its position in Salesforce, Inc. (NYSE:CRM) by 19.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 332,904 shares of the CRM provider’s stock after selling 77,978 shares during the period. Federated Hermes Inc.’s holdings in Salesforce were worth $85,590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CRM. Norges Bank acquired a new position in shares of Salesforce in the 4th quarter valued at $2,762,331,000. Capital International Investors lifted its stake in shares of Salesforce by 76.4% in the 4th quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock valued at $3,607,493,000 after purchasing an additional 5,935,973 shares during the period. Capital Research Global Investors lifted its stake 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 purchasing an additional 3,044,611 shares during the period. GQG Partners LLC acquired a new position in shares of Salesforce in the 1st quarter valued at $910,220,000. Finally, Swedbank AB acquired a new position in shares of Salesforce in the 1st quarter valued at $874,748,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Trading Up 0.5 %

NYSE CRM opened at $254.57 on Friday. The firm’s 50-day moving average is $253.56 and its two-hundred day moving average is $268.35. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $246.68 billion, a P/E ratio of 45.79, a PEG ratio of 2.26 and a beta of 1.29.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the prior year, the company posted $1.63 earnings per share. Salesforce’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.63%. Salesforce’s dividend payout ratio is presently 28.78%.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 897 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $229,434.66. Following the sale, the chief financial officer now owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Brian Millham sold 1,678 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $242.32, for a total transaction of $406,612.96. Following the sale, the chief operating officer now owns 1,662 shares of the company’s stock, valued at $402,735.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $229,434.66. Following the sale, the chief financial officer now owns 51,109 shares in the company, valued at $13,072,660.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,376 shares of company stock valued at $15,878,005. 3.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CRM has been the subject of several analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a research note on Friday, September 6th. Piper Sandler boosted their price target on shares of Salesforce from $250.00 to $268.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Canaccord Genuity Group boosted their price target on shares of Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Mizuho cut their price target on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Finally, Robert W. Baird boosted their price target on shares of Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $304.41.

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.