Gateway Investment Advisers LLC Has $60.13 Million Stake in Salesforce, Inc. (NYSE:CRM)

Gateway Investment Advisers LLC reduced its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 179,840 shares of the CRM provider's stock after selling 2,241 shares during the period. Salesforce accounts for approximately 0.7% of Gateway Investment Advisers LLC's investment portfolio, making the stock its 28th biggest holding. Gateway Investment Advisers LLC's holdings in Salesforce were worth $60,126,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce in the 3rd quarter valued at $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in Salesforce in the second quarter worth $33,000. Godsey & Gibb Inc. increased its stake in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider's stock valued at $33,000 after purchasing an additional 90 shares in the last quarter. Annapolis Financial Services LLC raised its holdings in shares of Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider's stock valued at $38,000 after purchasing an additional 80 shares during the period. Finally, FSA Wealth Management LLC bought a new position in shares of Salesforce during the 3rd quarter worth about $53,000. 80.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Northland Securities reaffirmed an "outperform" rating and issued a $440.00 target price (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Truist Financial restated a "buy" rating and set a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Bank of America upped their target price on Salesforce from $390.00 to $440.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Robert W. Baird lifted their price target on shares of Salesforce from $340.00 to $430.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Finally, Stifel Nicolaus upped their price objective on shares of Salesforce from $390.00 to $425.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $376.05.

Insider Transactions at Salesforce

In other Salesforce news, insider R David Schmaier sold 1,785 shares of the company's stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $344.00, for a total value of $614,040.00. Following the transaction, the insider now directly owns 19,116 shares in the company, valued at $6,575,904. This represents a 8.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the firm's stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. The trade was a 5.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,177,617 shares of company stock valued at $403,542,975. 3.20% of the stock is currently owned by company insiders.

Salesforce Price Performance

NYSE CRM traded down $0.98 during trading hours on Thursday, hitting $320.18. The company had a trading volume of 256,059 shares, compared to its average volume of 4,635,833. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $306.41 billion, a price-to-earnings ratio of 52.66, a PEG ratio of 2.87 and a beta of 1.30. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The firm has a 50 day simple moving average of $336.76 and a 200 day simple moving average of $290.66.

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

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.50%. Salesforce's dividend payout ratio (DPR) is currently 26.32%.

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.

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