Quilter Plc Grows Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Quilter Plc increased its stake in Salesforce, Inc. (NYSE:CRMFree Report) by 3.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 161,083 shares of the CRM provider’s stock after buying an additional 4,771 shares during the quarter. Quilter Plc’s holdings in Salesforce were worth $41,414,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Rathbones Group PLC grew its stake in shares of Salesforce by 310.8% in the second quarter. Rathbones Group PLC now owns 352,785 shares of the CRM provider’s stock worth $90,701,000 after acquiring an additional 266,905 shares during the last quarter. Plato Investment Management Ltd grew its position in Salesforce by 7.5% during the 2nd quarter. Plato Investment Management Ltd now owns 29,180 shares of the CRM provider’s stock valued at $7,502,000 after purchasing an additional 2,045 shares during the last quarter. Poehling Capital Management INC. bought a new stake in Salesforce during the 2nd quarter valued at about $689,000. MayTech Global Investments LLC raised its holdings in Salesforce by 1.8% in the second quarter. MayTech Global Investments LLC now owns 102,870 shares of the CRM provider’s stock worth $26,448,000 after buying an additional 1,772 shares during the last quarter. Finally, Taurus Asset Management LLC lifted its stake in shares of Salesforce by 79.8% in the second quarter. Taurus Asset Management LLC now owns 98,788 shares of the CRM provider’s stock worth $25,398,000 after buying an additional 43,858 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at $1,644,921.18. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amy E. Weaver sold 897 shares of the business’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 completion of the sale, the chief financial officer now owns 51,109 shares in the company, valued at $13,072,660.02. The disclosure for this sale can be found here. Insiders have sold 62,376 shares of company stock valued at $15,878,005 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $345.00 price target on shares of Salesforce in a research report on Friday, September 6th. Truist Financial restated a “buy” rating and issued a $300.00 price target on shares of Salesforce in a research note on Friday, August 30th. Mizuho dropped their price objective on Salesforce from $345.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Morgan Stanley boosted their target price on Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, TD Cowen raised their price target on shares of Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average price target of $304.41.

Check Out Our Latest Stock Analysis on CRM

Salesforce Stock Performance

NYSE CRM opened at $254.57 on Friday. The business has a 50-day moving average price of $253.56 and a 200-day moving average price of $268.14. The firm has a market cap of $246.68 billion, a price-to-earnings ratio of 45.79, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRMGet Free Report) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the company earned $1.63 EPS. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, equities research analysts predict that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s payout ratio is 28.78%.

About Salesforce

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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