Public Sector Pension Investment Board Acquires 4,700 Shares of Salesforce, Inc. (NYSE:CRM)

Public Sector Pension Investment Board increased its holdings in Salesforce, Inc. (NYSE:CRM) by 1.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 461,207 shares of the CRM provider’s stock after buying an additional 4,700 shares during the quarter. Public Sector Pension Investment Board’s holdings in Salesforce were worth $126,237,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Piscataqua Savings Bank grew its position in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the period. Clear Investment Research LLC lifted its position in Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares in the last quarter. Stephens Consulting LLC grew its holdings in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in Salesforce in the second quarter worth about $33,000. Finally, Godsey & Gibb Inc. increased its position in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Cfra set a $343.00 price objective on Salesforce in a research note on Thursday, October 17th. Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Raymond James raised their price objective on shares of Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. Jefferies Financial Group upped their target price on shares of Salesforce from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Piper Sandler cut Salesforce from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Eight analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $341.89.

Salesforce Trading Down 3.8 %

CRM opened at $330.01 on Thursday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $348.86. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $315.49 billion, a price-to-earnings ratio of 57.39, a P/E/G ratio of 3.07 and a beta of 1.29. The stock’s 50 day moving average price is $299.57 and its 200-day moving average price is $269.87.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating 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 quarter in the prior year, the company posted $1.63 EPS. Salesforce’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is presently 27.83%.

Insider Buying and Selling

In other news, insider Miguel Milano sold 719 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $342.81, for a total transaction of $246,480.39. Following the transaction, the insider now directly owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. This trade represents a 13.37 % 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, insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total transaction of $608,108.04. Following the sale, the insider now directly owns 828 shares of the company’s stock, valued at $202,702.68. This represents a 75.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 144,510 shares of company stock valued at $42,475,538 in the last 90 days. Company insiders own 3.20% of the company’s stock.

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.