Salesforce, Inc. (NYSE:CRM) Stake Increased by Marietta Investment Partners LLC

Marietta Investment Partners LLC increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 14.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,636 shares of the CRM provider’s stock after buying an additional 580 shares during the quarter. Marietta Investment Partners LLC’s holdings in Salesforce were worth $1,192,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Xponance Inc. lifted its position in shares of Salesforce by 4.6% in the second quarter. Xponance Inc. now owns 207,261 shares of the CRM provider’s stock worth $53,287,000 after purchasing an additional 9,044 shares in the last quarter. Tairen Capital Ltd acquired a new stake in shares of Salesforce during the 2nd quarter valued at $11,055,000. J. Stern & Co. LLP increased its stake in shares of Salesforce by 3.4% in the second quarter. J. Stern & Co. LLP now owns 159,849 shares of the CRM provider’s stock worth $41,097,000 after acquiring an additional 5,240 shares during the last quarter. Harmony Asset Management LLC acquired a new stake in Salesforce during the second quarter valued at $339,000. Finally, HighVista Strategies LLC grew its stake in Salesforce by 67.1% in the second quarter. HighVista Strategies LLC now owns 21,185 shares of the CRM provider’s stock valued at $5,447,000 after purchasing an additional 8,506 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Price Performance

Shares of Salesforce stock opened at $266.80 on Monday. The firm’s 50-day moving average price is $254.14 and its two-hundred day moving average price is $266.18. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The stock has a market capitalization of $258.53 billion, a price-to-earnings ratio of 47.99, a P/E/G ratio of 2.26 and a beta of 1.29.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.63 EPS. On average, equities analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Morgan Stanley lifted their price target on Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a research report on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Wells Fargo & Company increased their target price on shares of Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 29th. Finally, Bank of America reiterated a “buy” rating and set a $325.00 price target on shares of Salesforce in a research note on Friday, September 6th. Nine research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $306.00.

Insider Activity at Salesforce

In other news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the transaction, the chief accounting officer now directly owns 6,431 shares in the company, valued at approximately $1,644,921.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the sale, the chief accounting officer now directly owns 6,431 shares in the company, valued at approximately $1,644,921.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $229,434.66. Following the completion of the transaction, the chief financial officer now directly owns 51,109 shares of the company’s stock, valued at approximately $13,072,660.02. The disclosure for this sale can be found here. Insiders have sold 63,891 shares of company stock worth $16,306,944 over the last ninety days. Company insiders own 3.20% of the company’s stock.

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.