Salesforce, Inc. (NYSE:CRM) Shares Acquired by Eminence Capital LP

Eminence Capital LP increased its holdings in Salesforce, Inc. (NYSE:CRM) by 4.6% during the second quarter, HoldingsChannel.com reports. The fund owned 544,692 shares of the CRM provider’s stock after buying an additional 23,997 shares during the period. Salesforce makes up approximately 2.3% of Eminence Capital LP’s holdings, making the stock its 20th largest holding. Eminence Capital LP’s holdings in Salesforce were worth $140,040,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Ruedi Wealth Management Inc. increased its stake in Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after buying an additional 56 shares during the period. Piscataqua Savings Bank increased its stake in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after buying an additional 96 shares during the period. Clear Investment Research LLC increased its stake in Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after buying an additional 98 shares during the period. Red Tortoise LLC acquired a new position in Salesforce in the 1st quarter valued at $33,000. Finally, Stephens Consulting LLC increased its stake in Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after buying an additional 125 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Morgan Stanley boosted their target price on shares of Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Needham & Company LLC restated a “buy” rating and set a $345.00 target price on shares of Salesforce in a research report on Friday, September 20th. Roth Mkm restated a “buy” rating and set a $335.00 target price on shares of Salesforce in a research report on Thursday, August 29th. Canaccord Genuity Group boosted their target price on shares of Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Loop Capital restated a “hold” rating and set a $270.00 target price on shares of Salesforce in a research report on Thursday, September 19th. Eight investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $307.73.

Salesforce Trading Up 1.3 %

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

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.63 EPS. As a group, equities analysts predict that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Announces Dividend

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

Insider Buying and Selling

In related news, insider Parker Harris sold 942 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $264.78, for a total transaction of $249,422.76. Following the completion of the sale, the insider now owns 118,514 shares of the company’s stock, valued at approximately $31,380,136.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Salesforce news, COO Brian Millham sold 5,735 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $266.22, for a total value of $1,526,771.70. Following the completion of the transaction, the chief operating officer now owns 1,663 shares in the company, valued at approximately $442,723.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Parker Harris sold 942 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $264.78, for a total value of $249,422.76. Following the completion of the transaction, the insider now owns 118,514 shares of the company’s stock, valued at approximately $31,380,136.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,033 shares of company stock valued at $16,699,397. 3.20% of the stock is currently owned by corporate insiders.

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.