Salesforce, Inc. (NYSE:CRM) Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 14.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 96,205 shares of the CRM provider’s stock after purchasing an additional 12,193 shares during the quarter. Pacer Advisors Inc.’s holdings in Salesforce were worth $24,734,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of CRM. Spartan Planning & Wealth Management boosted its holdings in shares of Salesforce by 66.3% during the fourth quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock valued at $412,000 after acquiring an additional 625 shares during the period. Parnassus Investments LLC raised its stake in shares of Salesforce by 0.3% in the 4th quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock valued at $1,566,055,000 after acquiring an additional 18,397 shares in the last quarter. TD Asset Management Inc raised its holdings in Salesforce by 32.6% in the 4th quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock worth $207,756,000 after acquiring an additional 194,224 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in shares of Salesforce by 1.3% during the fourth quarter. Chicago Partners Investment Group LLC now owns 7,160 shares of the CRM provider’s stock worth $1,983,000 after buying an additional 95 shares during the last quarter. Finally, XN LP boosted its position in shares of Salesforce by 24.2% in the second quarter. XN LP now owns 464,489 shares of the CRM provider’s stock valued at $119,420,000 after acquiring an additional 90,616 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on CRM shares. UBS Group raised their price target on shares of Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Jefferies Financial Group cut their price target on Salesforce from $360.00 to $350.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Barclays decreased their price objective on Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. JPMorgan Chase & Co. upped their target price on Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, FBN Securities upgraded shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $306.00.

Insider Transactions at Salesforce

In related news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $262.97, for a total transaction of $1,104,474.00. Following the completion of the transaction, the insider now owns 117,581 shares in the company, valued at $30,920,275.57. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $229,434.66. Following the sale, the chief financial officer now owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $262.97, for a total value of $1,104,474.00. Following the completion of the transaction, the insider now owns 117,581 shares of the company’s stock, valued at $30,920,275.57. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,891 shares of company stock worth $16,306,944. 3.20% of the stock is currently owned by company insiders.

Salesforce Trading Up 0.3 %

Shares of CRM opened at $266.80 on Monday. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The stock’s fifty day simple moving average is $254.14 and its 200-day simple moving average is $266.18. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $258.53 billion, a PE ratio of 47.99, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 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 analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.63 EPS. As a group, research analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

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

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.