Optas LLC Boosts Holdings in Salesforce, Inc. (NYSE:CRM)

Optas LLC lifted its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 210.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,512 shares of the CRM provider's stock after acquiring an additional 15,270 shares during the period. Salesforce accounts for approximately 1.6% of Optas LLC's holdings, making the stock its 15th biggest holding. Optas LLC's holdings in Salesforce were worth $7,526,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRM. Veritas Asset Management LLP bought a new stake in Salesforce in the third quarter worth about $733,805,000. Jennison Associates LLC boosted its holdings in Salesforce by 52.7% during the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider's stock valued at $1,482,347,000 after acquiring an additional 1,530,572 shares during the period. Swedbank AB grew its position in Salesforce by 46.7% in the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider's stock valued at $1,280,408,000 after acquiring an additional 1,219,254 shares during the last quarter. KBC Group NV increased its stake in Salesforce by 171.2% in the third quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider's stock worth $447,470,000 after purchasing an additional 1,032,068 shares during the period. Finally, International Assets Investment Management LLC lifted its position in shares of Salesforce by 23,664.2% during the third quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider's stock worth $274,490,000 after purchasing an additional 998,628 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Stifel Nicolaus upped their price target on shares of Salesforce from $390.00 to $425.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Erste Group Bank raised shares of Salesforce from a "hold" rating to a "buy" rating in a research report on Tuesday, November 19th. BMO Capital Markets boosted their price target on Salesforce from $385.00 to $425.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. The Goldman Sachs Group raised their price objective on Salesforce from $360.00 to $400.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Finally, Northland Securities reiterated an "outperform" rating and issued a $440.00 target price (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $377.63.

Insider Activity

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the completion of the transaction, the chief financial officer now owns 46,750 shares of the company's stock, valued at $15,705,195. This represents a 11.74 % decrease in their ownership of the stock. 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 500 shares of Salesforce stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $167,970.00. Following the completion of the sale, the chief accounting officer now directly owns 6,557 shares in the company, valued at $2,202,758.58. This represents a 7.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,111,420 shares of company stock worth $384,366,700 in the last ninety days. Company insiders own 3.20% of the company's stock.

Salesforce Stock Performance

Shares of CRM traded up $3.27 during mid-day trading on Wednesday, reaching $347.41. The company had a trading volume of 4,508,620 shares, compared to its average volume of 6,100,623. The stock has a market capitalization of $332.47 billion, a P/E ratio of 57.14, a PEG ratio of 3.09 and a beta of 1.31. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock has a 50 day moving average of $338.69 and a two-hundred day moving average of $299.31. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM - Get Free Report) last issued 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). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same period in the previous year, the business earned $1.62 EPS. Salesforce's revenue for the quarter was up 8.3% compared to the same quarter last year. On average, analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce's payout ratio 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.