Candriam S.C.A. Sells 88,037 Shares of Salesforce, Inc. (NYSE:CRM)

Candriam S.C.A. lessened its position in shares of Salesforce, Inc. (NYSE:CRM) by 14.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 512,334 shares of the CRM provider’s stock after selling 88,037 shares during the period. Salesforce accounts for 0.8% of Candriam S.C.A.’s holdings, making the stock its 23rd biggest holding. Candriam S.C.A.’s holdings in Salesforce were worth $131,715,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Ruedi Wealth Management Inc. boosted its holdings in shares of Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after buying an additional 56 shares in the last quarter. Piscataqua Savings Bank increased its position in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after buying an additional 96 shares in the last quarter. Red Tortoise LLC acquired a new position in Salesforce during the 1st quarter worth approximately $33,000. Stephens Consulting LLC boosted its holdings in Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 125 shares in the last quarter. Finally, Creekmur Asset Management LLC acquired a new stake in Salesforce in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of analyst reports. Loop Capital lifted their price objective on shares of Salesforce from $240.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Sanford C. Bernstein boosted their price objective on Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Barclays dropped their target price on Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Raymond James upped their price target on Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Finally, Roth Mkm reissued a “buy” rating and issued a $335.00 price target on shares of Salesforce in a research report on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $304.41.

Salesforce Stock Down 0.9 %

Salesforce stock opened at $244.02 on Friday. The firm has a 50 day simple moving average of $254.52 and a 200 day simple moving average of $269.79. The company has a current ratio of 1.04, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The firm has a market capitalization of $236.46 billion, a price-to-earnings ratio of 43.89, a P/E/G ratio of 2.22 and a beta of 1.29.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 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 firm had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same period last year, the company earned $1.63 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, analysts predict that Salesforce, Inc. will post 7.52 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be given a $0.40 dividend. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.66%. Salesforce’s dividend payout ratio (DPR) is currently 28.78%.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the transaction, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the transaction, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at $1,644,921.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig Conway sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $239.64, for a total transaction of $1,437,840.00. Following the completion of the sale, the director now directly owns 6,855 shares in the company, valued at $1,642,732.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 83,692 shares of company stock valued at $21,006,957. Corporate insiders own 3.20% of the company’s stock.

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.