Groupama Asset Managment Has $25.89 Million Position in Salesforce, Inc. (NYSE:CRM)

Groupama Asset Managment raised its position in Salesforce, Inc. (NYSE:CRM) by 319.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 94,585 shares of the CRM provider’s stock after acquiring an additional 72,045 shares during the quarter. Groupama Asset Managment’s holdings in Salesforce were worth $25,889,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC lifted its stake in shares of Salesforce by 13.6% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after buying an additional 6,938 shares during the last quarter. Aljian Capital Management LLC lifted its stake in shares of Salesforce by 16.1% during the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after buying an additional 1,834 shares during the last quarter. AIA Group Ltd lifted its stake in shares of Salesforce by 8.9% during the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after buying an additional 1,962 shares during the last quarter. Transamerica Financial Advisors Inc. acquired a new stake in shares of Salesforce during the 3rd quarter worth about $3,672,000. Finally, Harvest Portfolios Group Inc. lifted its stake in shares of Salesforce by 13.6% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 89,098 shares of the CRM provider’s stock worth $24,387,000 after buying an additional 10,656 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Loop Capital raised their target price on shares of Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Royal Bank of Canada raised their target price on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Northland Securities reaffirmed an “outperform” rating and set a $440.00 price target (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Northland Capmk raised shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Bank of America raised their price target on shares of Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Eight analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $372.86.

Salesforce Stock Up 0.2 %

Shares of NYSE CRM opened at $361.99 on Monday. The company has a market capitalization of $346.06 billion, a P/E ratio of 59.54, a price-to-earnings-growth ratio of 3.33 and a beta of 1.30. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 1.11. The company’s 50 day moving average price is $309.97 and its 200-day moving average price is $272.80.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.62 EPS. Equities analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.44%. Salesforce’s dividend payout ratio is currently 26.32%.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 413 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 $117,824.77. Following the completion of the sale, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. The trade was a 5.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were 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. Insiders sold 140,982 shares of company stock worth $41,591,457 in the last quarter. 3.20% of the stock is owned by corporate insiders.

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.