Salesforce, Inc. (NYSE:CRM) Shares Purchased by Intact Investment Management Inc.

Intact Investment Management Inc. lifted its holdings in Salesforce, Inc. (NYSE:CRM) by 15.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,870 shares of the CRM provider’s stock after acquiring an additional 660 shares during the period. Intact Investment Management Inc.’s holdings in Salesforce were worth $1,281,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Northern Trust Corp increased its position in shares of Salesforce by 1.1% in the third quarter. Northern Trust Corp now owns 11,195,108 shares of the CRM provider’s stock worth $2,270,144,000 after acquiring an additional 121,436 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Salesforce by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,251,891 shares of the CRM provider’s stock worth $1,064,978,000 after acquiring an additional 19,888 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Salesforce by 7.1% in the third quarter. The Manufacturers Life Insurance Company now owns 4,678,330 shares of the CRM provider’s stock worth $948,676,000 after acquiring an additional 309,881 shares in the last quarter. Cerity Partners LLC increased its position in shares of Salesforce by 1,254.7% in the fourth quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock worth $916,693,000 after acquiring an additional 3,226,512 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Salesforce by 16.1% in the third quarter. American Century Companies Inc. now owns 3,198,494 shares of the CRM provider’s stock worth $648,591,000 after acquiring an additional 444,652 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity

In related news, COO Brian Millham sold 4,204 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $278.00, for a total transaction of $1,168,712.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO Brian Millham sold 4,204 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $278.00, for a total transaction of $1,168,712.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $276.65, for a total transaction of $4,149,750.00. Following the sale, the chief executive officer now owns 12,782,327 shares in the company, valued at approximately $3,536,230,764.55. The disclosure for this sale can be found here. Insiders have sold a total of 620,793 shares of company stock valued at $182,177,918 over the last 90 days. 3.70% of the stock is currently owned by company insiders.

Salesforce Stock Up 0.4 %

CRM traded up $1.15 during midday trading on Friday, hitting $274.29. 3,754,585 shares of the company’s stock traded hands, compared to its average volume of 5,162,527. The company has a market cap of $266.06 billion, a PE ratio of 65.31, a price-to-earnings-growth ratio of 2.11 and a beta of 1.28. The stock’s fifty day simple moving average is $295.97 and its 200-day simple moving average is $264.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. Salesforce, Inc. has a one year low of $190.76 and a one year high of $318.71.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The firm had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter last year, the firm earned $1.01 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, equities analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio is 9.52%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CRM. Jefferies Financial Group upped their target price on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Canaccord Genuity Group restated a “buy” rating and issued a $350.00 target price on shares of Salesforce in a research note on Thursday, March 7th. JMP Securities reiterated a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a research note on Monday, April 15th. Mizuho reiterated a “buy” rating and set a $345.00 price objective (up from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. Finally, Wells Fargo & Company increased their price objective on shares of Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 21st. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $310.61.

Salesforce 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.