AEGON ASSET MANAGEMENT UK Plc Buys 950 Shares of Salesforce, Inc. (NYSE:CRM)

AEGON ASSET MANAGEMENT UK Plc boosted its stake in Salesforce, Inc. (NYSE:CRM) by 1,610.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,009 shares of the CRM provider’s stock after purchasing an additional 950 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc’s holdings in Salesforce were worth $271,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Athena Investment Management bought a new position in Salesforce in the 4th quarter valued at $236,000. Jag Capital Management LLC boosted its stake in Salesforce by 2,507.9% during the fourth quarter. Jag Capital Management LLC now owns 23,706 shares of the CRM provider’s stock valued at $7,926,000 after buying an additional 22,797 shares during the period. Lecap Asset Management Ltd. bought a new stake in Salesforce during the fourth quarter valued at $2,861,000. Atlantic Union Bankshares Corp boosted its stake in Salesforce by 2.7% during the fourth quarter. Atlantic Union Bankshares Corp now owns 27,358 shares of the CRM provider’s stock valued at $9,146,000 after buying an additional 723 shares during the period. Finally, Dash Acquisitions Inc. boosted its position in shares of Salesforce by 2.6% during the 4th quarter. Dash Acquisitions Inc. now owns 60,521 shares of the CRM provider’s stock valued at $21,785,000 after acquiring an additional 1,525 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at $12,967,047.50. This trade represents a 11.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider R David Schmaier sold 6,959 shares of the stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the transaction, the insider now owns 36,090 shares of the company’s stock, valued at approximately $9,141,957.90. The trade was a 16.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,332 shares of company stock valued at $11,024,802. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Up 1.1%

Shares of NYSE CRM opened at $264.56 on Wednesday. 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, Inc. has a 12 month low of $227.77 and a 12 month high of $369.00. The firm has a market capitalization of $252.92 billion, a PE ratio of 43.51, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The firm has a fifty day simple moving average of $266.65 and a two-hundred day simple moving average of $303.58.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.03. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. During the same period in the prior year, the firm earned $2.44 earnings per share. Salesforce’s revenue was up 7.6% on a year-over-year basis. Equities analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were given a $0.42 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.64%. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio is currently 25.98%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CRM shares. Cantor Fitzgerald assumed coverage on Salesforce in a research report on Tuesday. They set an “overweight” rating and a $325.00 price target for the company. Sanford C. Bernstein lifted their price objective on shares of Salesforce from $243.00 to $255.00 and gave the stock an “underperform” rating in a report on Thursday, May 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $404.00 price objective (up from $393.00) on shares of Salesforce in a report on Thursday, May 29th. Jefferies Financial Group dropped their price objective on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Monday, March 31st. Finally, Wells Fargo & Company lifted their price target on Salesforce from $255.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 29th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $346.34.

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.