National Pension Service Grows Holdings in Salesforce, Inc. (NYSE:CRM)

National Pension Service increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,630,240 shares of the CRM provider’s stock after acquiring an additional 32,181 shares during the period. Salesforce makes up about 0.6% of National Pension Service’s portfolio, making the stock its 27th largest holding. National Pension Service owned 0.17% of Salesforce worth $428,981,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Verdence Capital Advisors LLC raised its holdings in shares of Salesforce by 21.7% during the third quarter. Verdence Capital Advisors LLC now owns 1,839 shares of the CRM provider’s stock valued at $373,000 after acquiring an additional 328 shares during the last quarter. Calamos Wealth Management LLC lifted its holdings in Salesforce by 1.6% in the 3rd quarter. Calamos Wealth Management LLC now owns 3,412 shares of the CRM provider’s stock valued at $692,000 after purchasing an additional 55 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Salesforce by 4.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 506,270 shares of the CRM provider’s stock worth $102,660,000 after purchasing an additional 20,625 shares during the last quarter. Chemung Canal Trust Co. raised its position in shares of Salesforce by 9.9% in the third quarter. Chemung Canal Trust Co. now owns 19,797 shares of the CRM provider’s stock valued at $4,014,000 after buying an additional 1,788 shares during the last quarter. Finally, Chicago Partners Investment Group LLC lifted its stake in shares of Salesforce by 6.9% in the third quarter. Chicago Partners Investment Group LLC now owns 7,065 shares of the CRM provider’s stock worth $1,427,000 after buying an additional 454 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

Salesforce stock traded down $4.74 during mid-day trading on Thursday, reaching $274.23. 2,400,767 shares of the company were exchanged, compared to its average volume of 5,465,719. The firm has a market cap of $265.45 billion, a PE ratio of 65.28, a price-to-earnings-growth ratio of 2.10 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The firm’s 50-day simple moving average is $293.29 and its two-hundred day simple moving average is $267.99. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. Salesforce’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 EPS. Equities analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s payout ratio is 9.52%.

Wall Street Analyst Weigh In

A number of analysts have commented on CRM shares. TheStreet upgraded shares of Salesforce from a “c+” rating to a “b-” rating in a report on Friday, January 19th. Mizuho reiterated a “buy” rating and set a $345.00 price objective (up previously from $325.00) on shares of Salesforce in a research report on Thursday, February 29th. Evercore ISI upped their target price on Salesforce from $290.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Citigroup raised their target price on Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. Finally, Oppenheimer boosted their price target on shares of Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Monday, February 12th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $310.61.

Insider Buying and Selling at Salesforce

In related news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $277.22, for a total value of $1,164,324.00. Following the completion of the sale, the insider now owns 115,762 shares in the company, valued at $32,091,541.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $315.54, for a total value of $4,733,100.00. Following the sale, the chief executive officer now owns 13,311,166 shares of the company’s stock, valued at $4,200,205,319.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $277.22, for a total value of $1,164,324.00. Following the sale, the insider now owns 115,762 shares in the company, valued at approximately $32,091,541.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 624,193 shares of company stock valued at $182,212,898. 3.70% of the stock is owned by company 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.