Salesforce, Inc. (NYSE:CRM) Shares Bought by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 11.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,061 shares of the CRM provider’s stock after buying an additional 11,104 shares during the quarter. Salesforce makes up about 0.7% of Crossmark Global Holdings Inc.’s investment portfolio, making the stock its 23rd largest holding. Crossmark Global Holdings Inc.’s holdings in Salesforce were worth $35,794,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Veritas Asset Management LLP bought a new stake in shares of Salesforce in the 3rd quarter worth about $733,805,000. KBC Group NV increased its holdings in Salesforce by 171.2% in the third quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock valued at $447,470,000 after buying an additional 1,032,068 shares during the last quarter. International Assets Investment Management LLC raised its stake in Salesforce by 23,664.2% during the third quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock valued at $274,490,000 after buying an additional 998,628 shares in the last quarter. Farallon Capital Management LLC lifted its holdings in Salesforce by 51.0% during the 2nd quarter. Farallon Capital Management LLC now owns 2,946,838 shares of the CRM provider’s stock worth $757,632,000 after buying an additional 994,670 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Salesforce by 25.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,378,826 shares of the CRM provider’s stock worth $1,125,331,000 after acquiring an additional 877,495 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CRM shares. Canaccord Genuity Group raised their price objective on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Guggenheim lowered shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price target for the company. in a report on Monday, January 6th. Oppenheimer reiterated an “outperform” rating and set a $415.00 price objective (up previously from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. Needham & Company LLC lifted their target price on Salesforce from $375.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Scotiabank increased their price target on Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $377.63.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the transaction, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. This represents a 11.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the sale, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,173,477 shares of company stock worth $402,596,964. 3.20% of the stock is currently owned by company insiders.

Salesforce Price Performance

Salesforce stock opened at $324.77 on Tuesday. The business’s 50-day simple moving average is $337.31 and its 200 day simple moving average is $292.02. The stock has a market cap of $310.81 billion, a price-to-earnings ratio of 53.42, a P/E/G ratio of 2.93 and a beta of 1.30. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same period last year, the firm earned $1.62 earnings per share. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, research analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

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.