Mutual of America Capital Management LLC Has $32.66 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Mutual of America Capital Management LLC reduced its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 2.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,306 shares of the CRM provider's stock after selling 3,175 shares during the period. Mutual of America Capital Management LLC's holdings in Salesforce were worth $32,655,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Piscataqua Savings Bank boosted its stake 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 buying an additional 96 shares during the last quarter. Clear Investment Research LLC increased its position in shares of Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider's stock worth $28,000 after purchasing an additional 98 shares during the last quarter. Godsey & Gibb Inc. raised its stake in shares of Salesforce by 300.0% in the 3rd 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. Strategic Investment Solutions Inc. IL acquired a new position in Salesforce in the second quarter worth about $33,000. Finally, Stephens Consulting LLC increased its holdings in Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider's stock valued at $33,000 after buying an additional 125 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on Salesforce from $300.00 to $310.00 and gave the stock an "overweight" rating in a research report on Thursday, August 29th. Loop Capital boosted their target price on shares of Salesforce from $270.00 to $340.00 and gave the company a "hold" rating in a research note on Thursday. Sanford C. Bernstein raised their price target on shares of Salesforce from $234.00 to $236.00 and gave the stock an "outperform" rating in a research report on Thursday, August 29th. Wells Fargo & Company lifted their price target on shares of Salesforce from $275.00 to $330.00 and gave the company an "equal weight" rating in a report on Tuesday, November 12th. Finally, Northland Capmk upgraded shares of Salesforce from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 2nd. Nine research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $322.51.

Insider Transactions at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the company's stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brian Millham sold 60,522 shares of Salesforce stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total transaction of $18,156,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 144,373 shares of company stock valued at $41,250,680 over the last ninety days. Corporate insiders own 3.20% of the company's stock.

Salesforce Price Performance

CRM stock traded down $6.39 on Friday, hitting $325.26. 7,093,003 shares of the company's stock traded hands, compared to its average volume of 5,164,433. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a market cap of $310.95 billion, a price-to-earnings ratio of 56.57, a P/E/G ratio of 2.94 and a beta of 1.29. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $348.86. The stock has a fifty day moving average of $286.61 and a 200-day moving average of $266.62.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company's revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company posted $1.63 EPS. On average, analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Wednesday, September 18th. Salesforce's payout ratio is 27.83%.

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.