Salesforce, Inc. (NYSE:CRM) Shares Purchased by APG Asset Management US Inc.

APG Asset Management US Inc. increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 15.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 476,406 shares of the CRM provider’s stock after purchasing an additional 65,498 shares during the quarter. Salesforce accounts for approximately 0.7% of APG Asset Management US Inc.’s portfolio, making the stock its 29th biggest position. APG Asset Management US Inc.’s holdings in Salesforce were worth $122,060,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Fox Hill Wealth Management increased its position in shares of Salesforce by 4.0% during the 1st quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock worth $297,000 after purchasing an additional 38 shares during the last quarter. Pinnacle Wealth Planning Services Inc. boosted its holdings in Salesforce by 0.8% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock valued at $1,490,000 after acquiring an additional 38 shares during the period. Blue Barn Wealth LLC boosted its holdings in Salesforce by 1.8% during the 1st quarter. Blue Barn Wealth LLC now owns 2,207 shares of the CRM provider’s stock valued at $665,000 after acquiring an additional 39 shares during the period. Catalyst Financial Partners LLC boosted its holdings in Salesforce by 0.8% during the 2nd quarter. Catalyst Financial Partners LLC now owns 4,876 shares of the CRM provider’s stock valued at $1,254,000 after acquiring an additional 39 shares during the period. Finally, Pine Haven Investment Counsel Inc boosted its holdings in Salesforce by 1.8% during the 1st quarter. Pine Haven Investment Counsel Inc now owns 2,279 shares of the CRM provider’s stock valued at $686,000 after acquiring an additional 40 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Trading Up 1.3 %

NYSE:CRM opened at $274.09 on Thursday. The firm has a market cap of $262.03 billion, a P/E ratio of 49.30, a PEG ratio of 2.39 and a beta of 1.29. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock’s 50 day simple moving average is $254.66 and its 200-day simple moving average is $265.66. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.63 earnings per share. Equities analysts anticipate that Salesforce, Inc. will post 7.54 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.58%. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CRM shares. Needham & Company LLC restated a “buy” rating and set a $345.00 target price on shares of Salesforce in a report on Friday, September 20th. Bank of America restated a “buy” rating and set a $325.00 target price on shares of Salesforce in a report on Friday, September 6th. Stifel Nicolaus raised their target price on Salesforce from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, August 29th. JMP Securities restated a “market outperform” rating and set a $342.00 target price on shares of Salesforce in a report on Wednesday, August 28th. Finally, TD Cowen lifted their price objective on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $307.73.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 6,431 shares in the company, valued at $1,644,921.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 6,431 shares in the company, valued at $1,644,921.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Brian Millham sold 5,735 shares of Salesforce stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $266.22, for a total value of $1,526,771.70. Following the completion of the sale, the chief operating officer now owns 1,663 shares in the company, valued at $442,723.86. The disclosure for this sale can be found here. Insiders have sold a total of 65,033 shares of company stock worth $16,699,397 over the last three months. 3.20% of the stock is currently owned by corporate 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.