Salesforce, Inc. (NYSE:CRM) Stake Decreased by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 24.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 464,634 shares of the CRM provider’s stock after selling 149,107 shares during the period. Westfield Capital Management Co. LP’s holdings in Salesforce were worth $127,175,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Prime Capital Investment Advisors LLC raised its holdings in shares of Salesforce by 13.6% during the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after buying an additional 6,938 shares during the last quarter. Aljian Capital Management LLC raised its holdings in shares of Salesforce by 16.1% during the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after buying an additional 1,834 shares during the last quarter. AIA Group Ltd raised its holdings in Salesforce by 8.9% during the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after purchasing an additional 1,962 shares in the last quarter. Harvest Portfolios Group Inc. raised its holdings in Salesforce by 13.6% during the third quarter. Harvest Portfolios Group Inc. now owns 89,098 shares of the CRM provider’s stock worth $24,387,000 after purchasing an additional 10,656 shares in the last quarter. Finally, XN LP raised its holdings in Salesforce by 24.2% during the second quarter. XN LP now owns 464,489 shares of the CRM provider’s stock worth $119,420,000 after purchasing an additional 90,616 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Bank of America boosted their target price on Salesforce from $325.00 to $390.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. DA Davidson boosted their target price on Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. UBS Group boosted their target price on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday. Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Evercore ISI restated an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a research report on Monday, August 26th. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $336.37.

Salesforce Stock Up 1.9 %

CRM stock opened at $342.02 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $348.86. The company has a fifty day simple moving average of $294.61 and a 200 day simple moving average of $268.60. The firm has a market cap of $326.97 billion, a PE ratio of 59.48, a PEG ratio of 3.04 and a beta of 1.29.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the previous year, the business earned $1.63 EPS. Salesforce’s quarterly revenue was up 8.5% compared to the same quarter last year. Sell-side analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is presently 27.83%.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $255,905.13. Following the completion of the transaction, the chief financial officer now owns 52,930 shares of the company’s stock, valued at $15,100,399.70. The trade was a 1.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 147,991 shares of company stock valued at $43,333,238. Insiders own 3.20% of the company’s stock.

Salesforce Company 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.