USS Investment Management Ltd Sells 3,067 Shares of Salesforce, Inc. (NYSE:CRM)

USS Investment Management Ltd reduced its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 148,477 shares of the CRM provider’s stock after selling 3,067 shares during the quarter. USS Investment Management Ltd’s holdings in Salesforce were worth $49,666,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Norges Bank purchased a new stake in Salesforce in the fourth quarter worth about $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Salesforce by 926.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider’s stock valued at $1,422,979,000 after acquiring an additional 3,841,521 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $1,173,564,000. Invesco Ltd. increased its position in shares of Salesforce by 42.5% during the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock valued at $2,604,770,000 after acquiring an additional 2,325,156 shares in the last quarter. Finally, Northern Trust Corp grew its position in Salesforce by 18.3% in the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock worth $3,752,830,000 after purchasing an additional 1,736,667 shares during the period. 80.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider R David Schmaier sold 6,959 shares of the company’s stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $1,762,784.29. Following the completion of the sale, the insider now owns 36,090 shares of the company’s stock, valued at approximately $9,141,957.90. This represents a 16.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Miguel Milano sold 458 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $307.97, for a total transaction of $141,050.26. Following the sale, the insider now directly owns 5,864 shares of the company’s stock, valued at $1,805,936.08. The trade was a 7.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,306 shares of company stock worth $12,841,368 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $287.03 on Tuesday. The company has a market capitalization of $275.95 billion, a price-to-earnings ratio of 47.21, a PEG ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The firm’s 50-day moving average is $268.15 and its 200 day moving average is $307.16. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were paid a $0.42 dividend. This is an increase from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Thursday, April 10th. Salesforce’s dividend payout ratio is currently 26.10%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets reissued an “outperform” rating on shares of Salesforce in a research report on Wednesday, March 19th. Redburn Atlantic assumed coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating for the company. Westpark Capital reissued a “buy” rating and set a $320.00 price objective on shares of Salesforce in a research report on Wednesday, April 30th. Oppenheimer cut their price objective on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Finally, Mizuho cut their price objective on shares of Salesforce from $425.00 to $380.00 and set an “outperform” rating for the company in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have assigned a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $352.62.

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.