Salesforce, Inc. (NYSE:CRM) Shares Purchased by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. grew its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 3.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,838 shares of the CRM provider’s stock after acquiring an additional 551 shares during the period. E Fund Management Co. Ltd.’s holdings in Salesforce were worth $4,072,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Ruedi Wealth Management Inc. grew its stake in shares of Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 56 shares in the last quarter. Piscataqua Savings Bank grew its stake in shares of Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares in the last quarter. Red Tortoise LLC acquired a new stake in shares of Salesforce during the first quarter valued at about $33,000. Clear Investment Research LLC grew its stake in shares of Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 98 shares in the last quarter. Finally, Stephens Consulting LLC grew its stake in shares of Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 125 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Price Performance

NYSE CRM opened at $255.32 on Wednesday. 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 firm has a market capitalization of $247.41 billion, a PE ratio of 45.92, a P/E/G ratio of 2.26 and a beta of 1.29. The company’s 50 day simple moving average is $253.61 and its 200 day simple moving average is $267.11.

Salesforce (NYSE:CRM) last posted its quarterly earnings data 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 business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter last year, the business earned $1.63 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Barclays lowered their target price on Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Jefferies Financial Group reduced their price target on shares of Salesforce from $360.00 to $350.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Raymond James increased their price target on shares of Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 29th. Macquarie reduced their price target on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a research report on Friday, May 31st. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $305.55.

Insider Activity at Salesforce

In related news, insider Srinivas Tallapragada sold 942 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $242.32, for a total transaction of $228,265.44. Following the transaction, the insider now owns 22,154 shares in the company, valued at $5,368,357.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Salesforce news, insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total value of $608,108.04. Following the transaction, the insider now owns 828 shares in the company, valued at $202,702.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Srinivas Tallapragada sold 942 shares of Salesforce stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $242.32, for a total transaction of $228,265.44. Following the completion of the transaction, the insider now owns 22,154 shares in the company, valued at approximately $5,368,357.28. The disclosure for this sale can be found here. Insiders have sold 62,376 shares of company stock worth $15,878,005 over the last quarter. 3.20% of the stock is currently owned by company insiders.

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.