Financiere des Professionnels Fonds d investissement inc. Sells 673 Shares of Salesforce, Inc. (NYSE:CRM)

Financiere des Professionnels Fonds d investissement inc. lessened its holdings in Salesforce, Inc. (NYSE:CRM) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,882 shares of the CRM provider’s stock after selling 673 shares during the quarter. Salesforce makes up approximately 0.9% of Financiere des Professionnels Fonds d investissement inc.’s holdings, making the stock its 28th biggest holding. Financiere des Professionnels Fonds d investissement inc.’s holdings in Salesforce were worth $12,665,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Foundations Investment Advisors LLC boosted its stake in shares of Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after purchasing an additional 4,752 shares during the last quarter. Nabity Jensen Investment Management Inc bought a new position in Salesforce during the 3rd quarter worth approximately $1,215,000. Prime Capital Investment Advisors LLC boosted its stake in 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 acquiring an additional 6,938 shares during the last quarter. Aljian Capital Management LLC boosted its stake in 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 acquiring an additional 1,834 shares during the last quarter. Finally, AIA Group Ltd boosted its stake in 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 acquiring an additional 1,962 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. JMP Securities reissued a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Northland Securities reissued an “outperform” rating and set a $440.00 price objective (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Jefferies Financial Group lifted their price objective on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, UBS Group lifted their price target on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $377.63.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Brian Millham sold 14,808 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $338.95, for a total transaction of $5,019,171.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,111,420 shares of company stock valued at $384,366,700. 3.20% of the stock is owned by company insiders.

Salesforce Price Performance

NYSE:CRM opened at $325.49 on Monday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a market cap of $311.49 billion, a P/E ratio of 53.53, a P/E/G ratio of 2.66 and a beta of 1.31. The firm’s fifty day moving average price is $336.56 and its two-hundred day moving average price is $303.11. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

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

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. Salesforce’s payout ratio is presently 26.32%.

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.