Vanguard Personalized Indexing Management LLC Has $19.51 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Vanguard Personalized Indexing Management LLC trimmed its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,714 shares of the CRM provider’s stock after selling 1,651 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Salesforce were worth $19,509,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Spartan Planning & Wealth Management increased its position in Salesforce by 66.3% in the 4th 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 boosted 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 purchasing an additional 18,397 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Salesforce by 32.6% in the 4th quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock valued at $207,756,000 after purchasing an additional 194,224 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in shares of Salesforce by 1.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 7,160 shares of the CRM provider’s stock valued at $1,983,000 after purchasing an additional 95 shares during the last quarter. Finally, M&G Plc bought a new position in Salesforce during the first quarter worth $2,178,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of recent research reports. BMO Capital Markets raised their price objective on shares of Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. increased their target price on shares of Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. BNP Paribas upgraded shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Oppenheimer lifted their target price on shares of Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Phillip Securities reiterated an “accumulate” rating and issued a $305.00 target price on shares of Salesforce in a research note on Friday, August 30th. Nine 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $305.55.

Salesforce Trading Down 0.6 %

NYSE:CRM opened at $255.32 on Wednesday. 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 firm has a 50-day moving average of $253.61 and a 200-day moving average of $267.11. The company has a market cap of $247.41 billion, a PE ratio of 45.92, a PEG ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The company had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. Salesforce’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.63 EPS. As a group, equities research analysts expect 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 dividend of $0.40 per share. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.63%. Salesforce’s dividend payout ratio is currently 28.78%.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $229,434.66. Following the transaction, the chief financial officer now owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $229,434.66. Following the transaction, the chief financial officer now directly owns 51,109 shares in the company, valued at $13,072,660.02. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Sabastian Niles sold 2,484 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total transaction of $608,108.04. Following the completion of the sale, the insider now owns 828 shares in the company, valued at $202,702.68. The disclosure for this sale can be found here. Insiders sold 62,376 shares of company stock worth $15,878,005 over the last three months. 3.20% of the stock is currently owned by company 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.