Cerity Partners LLC Purchases 3,226,512 Shares of Salesforce, Inc. (NYSE:CRM)
Cerity Partners LLC raised its position in Salesforce, Inc. (NYSE:CRM – Free Report) by 1,254.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,483,670 shares of the CRM provider’s stock after buying an additional 3,226,512 shares during the quarter. Salesforce comprises about 1.6% of Cerity Partners LLC’s portfolio, making the stock its 13th largest position. Cerity Partners LLC owned about 0.36% of Salesforce worth $916,693,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in CRM. Norges Bank acquired a new stake in shares of Salesforce in the 4th quarter valued at approximately $1,420,381,000. Moneta Group Investment Advisors LLC boosted its position in Salesforce by 125,717.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 10,260,412 shares of the CRM provider’s stock worth $1,360,428,000 after buying an additional 10,252,257 shares during the period. Starboard Value LP acquired a new stake in Salesforce during the 4th quarter worth approximately $401,215,000. Barclays PLC boosted its position in Salesforce by 99.7% during the 2nd quarter. Barclays PLC now owns 3,196,861 shares of the CRM provider’s stock worth $675,370,000 after buying an additional 1,595,733 shares during the period. Finally, International Assets Investment Management LLC boosted its position in Salesforce by 23,653.7% during the 4th quarter. International Assets Investment Management LLC now owns 1,406,220 shares of the CRM provider’s stock worth $370,033,000 after buying an additional 1,400,300 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.
Salesforce Stock Down 0.8 %
CRM traded down $2.46 during mid-day trading on Thursday, reaching $297.16. 713,646 shares of the stock were exchanged, compared to its average volume of 5,506,233. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $288.25 billion, a PE ratio of 71.34, a price-to-earnings-growth ratio of 2.32 and a beta of 1.28. The company has a 50 day moving average price of $298.34 and a two-hundred day moving average price of $258.08. Salesforce, Inc. has a 1 year low of $189.53 and a 1 year high of $318.71.
Salesforce (NYSE:CRM – Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The firm had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.01 EPS. As a group, research analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current year.
Salesforce Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Wednesday, March 13th. Salesforce’s dividend payout ratio is 9.52%.
Wall Street Analyst Weigh In
CRM has been the topic of several recent research reports. StockNews.com downgraded shares of Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. BMO Capital Markets raised their price target on shares of Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Wolfe Research upgraded shares of Salesforce from a “peer perform” rating to an “outperform” rating and set a $315.00 price target for the company in a report on Monday, December 18th. Oppenheimer raised their price target on shares of Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Monday, February 12th. Finally, Wells Fargo & Company raised their price target on shares of Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 21st. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $304.97.
Check Out Our Latest Stock Analysis on Salesforce
Insiders Place Their Bets
In related news, insider Srinivas Tallapragada sold 10,000 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $270.28, for a total transaction of $2,702,800.00. Following the completion of the transaction, the insider now owns 59,861 shares in the company, valued at $16,179,231.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Srinivas Tallapragada sold 10,000 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $270.28, for a total transaction of $2,702,800.00. Following the completion of the transaction, the insider now owns 59,861 shares in the company, valued at $16,179,231.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $301.75, for a total transaction of $1,267,350.00. Following the transaction, the insider now owns 105,837 shares of the company’s stock, valued at approximately $31,936,314.75. The disclosure for this sale can be found here. Insiders have sold 907,375 shares of company stock valued at $262,118,396 in the last three months. 3.70% of the stock is currently owned by insiders.
Salesforce 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.
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