Intech Investment Management LLC Has $7.20 Million Stake in Salesforce, Inc. (NYSE:CRM)

Intech Investment Management LLC lifted its position in shares of Salesforce, Inc. (NYSE:CRMFree Report) by 49.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 27,368 shares of the CRM provider’s stock after purchasing an additional 9,094 shares during the period. Intech Investment Management LLC’s holdings in Salesforce were worth $7,202,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CRM. Norges Bank purchased a new stake in Salesforce in the 4th quarter valued at $2,762,331,000. Cerity Partners LLC raised its position in Salesforce by 1,254.7% in the 4th quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock valued at $916,693,000 after buying an additional 3,226,512 shares during the last quarter. International Assets Investment Management LLC raised its position in Salesforce by 23,653.7% in the 4th quarter. International Assets Investment Management LLC now owns 1,406,220 shares of the CRM provider’s stock valued at $370,033,000 after buying an additional 1,400,300 shares during the last quarter. Lone Pine Capital LLC raised its position in Salesforce by 47.5% in the 3rd quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider’s stock valued at $506,875,000 after buying an additional 804,634 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Salesforce by 5.3% during the 4th quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock valued at $3,926,323,000 after purchasing an additional 752,566 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CRM has been the subject of several research analyst reports. KeyCorp assumed coverage on Salesforce in a research report on Thursday, March 21st. They set a “sector weight” rating for the company. Truist Financial reiterated a “buy” rating and set a $360.00 price target (up previously from $275.00) on shares of Salesforce in a research note on Thursday, February 29th. Jefferies Financial Group increased their price target on Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Citigroup increased their price target on Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $350.00 price target on shares of Salesforce in a research note on Friday. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $310.94.

Check Out Our Latest Analysis on CRM

Insiders Place Their Bets

In other news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $300.46, for a total value of $4,506,900.00. Following the transaction, the chief executive officer now owns 13,371,166 shares in the company, valued at $4,017,500,536.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $300.46, for a total transaction of $4,506,900.00. Following the completion of the sale, the chief executive officer now directly owns 13,371,166 shares in the company, valued at $4,017,500,536.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Srinivas Tallapragada sold 2,890 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $309.32, for a total value of $893,934.80. Following the transaction, the insider now owns 60,416 shares in the company, valued at approximately $18,687,877.12. The disclosure for this sale can be found here. Insiders have sold 636,344 shares of company stock valued at $184,877,874 in the last ninety days. Company insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Shares of NYSE CRM traded down $6.28 during trading hours on Friday, reaching $272.29. 8,325,132 shares of the stock traded hands, compared to its average volume of 3,819,083. The company has a market capitalization of $263.58 billion, a P/E ratio of 64.83, a price-to-earnings-growth ratio of 2.40 and a beta of 1.30. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The company’s 50-day simple moving average is $286.94 and its two-hundred day simple moving average is $274.60.

Salesforce (NYSE:CRMGet Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. Salesforce’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the firm posted $1.01 EPS. Equities research analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.59%. Salesforce’s dividend payout ratio is 9.52%.

Salesforce Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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