Groupama Asset Managment Reduces Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Groupama Asset Managment cut its position in Salesforce, Inc. (NYSE:CRM) by 61.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 36,881 shares of the CRM provider’s stock after selling 57,704 shares during the period. Groupama Asset Managment’s holdings in Salesforce were worth $12,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Arlington Trust Co LLC lifted its holdings in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new stake in shares of Salesforce during the 4th quarter valued at approximately $30,000. Asset Planning Inc bought a new position in Salesforce in the 4th quarter worth approximately $31,000. Collier Financial purchased a new position in Salesforce in the 4th quarter valued at approximately $32,000. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in Salesforce during the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 0.7 %

NYSE CRM opened at $268.05 on Tuesday. The stock has a market cap of $257.60 billion, a P/E ratio of 44.09, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The stock has a 50 day simple moving average of $308.26 and a two-hundred day simple moving average of $311.67. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be paid a $0.42 dividend. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.63%. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

Analyst Ratings Changes

CRM has been the subject of a number of analyst reports. Barclays raised their price target on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Bank of America reduced their target price on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group increased their price target on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Salesforce in a research note on Wednesday, March 19th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $361.42.

Insider Activity at Salesforce

In other Salesforce news, CEO Brian Millham sold 3,937 shares of Salesforce stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the sale, the chief executive officer now directly owns 5,518 shares of the company’s stock, valued at approximately $1,570,312.44. The trade was a 41.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,660 shares of company stock worth $14,095,336 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

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.