United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Trims Holdings in Salesforce, Inc. (NYSE:CRM)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lowered its stake in Salesforce, Inc. (NYSE:CRM) by 15.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 167,401 shares of the CRM provider’s stock after selling 29,505 shares during the quarter. Salesforce makes up 1.8% of United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s investment portfolio, making the stock its 19th largest position. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in Salesforce were worth $45,819,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Prime Capital Investment Advisors LLC lifted its stake in Salesforce by 13.6% in the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after acquiring an additional 6,938 shares during the period. AIA Group Ltd raised its stake in Salesforce by 8.9% in the third 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 in the last quarter. Harvest Portfolios Group Inc. lifted its holdings in Salesforce by 13.6% in the third 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 period. XN LP grew its holdings in shares of Salesforce by 24.2% during the 2nd quarter. XN LP now owns 464,489 shares of the CRM provider’s stock worth $119,420,000 after acquiring an additional 90,616 shares during the period. Finally, Atomi Financial Group Inc. grew its position in shares of Salesforce by 27.5% in the 3rd quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock worth $3,284,000 after buying an additional 2,589 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Salesforce Trading Up 1.2 %

CRM traded up $4.15 during trading hours on Wednesday, reaching $345.30. 1,683,790 shares of the company’s stock traded hands, compared to its average volume of 6,286,532. The firm has a 50-day moving average price of $281.40 and a 200 day moving average price of $265.31. The firm has a market capitalization of $330.11 billion, a PE ratio of 60.01, a PEG ratio of 3.09 and a beta of 1.29. 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, Inc. has a 52-week low of $212.00 and a 52-week high of $348.86.

Salesforce (NYSE:CRM) last released its quarterly earnings data 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 return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period last year, the business posted $1.63 EPS. Salesforce’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, sell-side analysts predict 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 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 27.83%.

Insiders Place Their Bets

In other news, insider Parker Harris sold 3,970 shares of Salesforce stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total value of $1,178,057.80. Following the transaction, the insider now owns 119,402 shares of the company’s stock, valued at $35,431,349.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Salesforce news, insider Parker Harris sold 3,970 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total value of $1,178,057.80. Following the completion of the sale, the insider now owns 119,402 shares of the company’s stock, valued at approximately $35,431,349.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Miguel Milano sold 2,934 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $262.95, for a total transaction of $771,495.30. Following the completion of the transaction, the insider now directly owns 3,716 shares of the company’s stock, valued at $977,122.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 144,373 shares of company stock worth $41,250,680 over the last 90 days. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CRM shares. Stifel Nicolaus upped their price target on shares of Salesforce from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Sanford C. Bernstein increased their target price on Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Cfra set a $343.00 price target on Salesforce in a report on Thursday, October 17th. Citigroup lifted their price target on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Finally, Northland Capmk upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $318.23.

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.