Connor Clark & Lunn Investment Management Ltd. Has $32.25 Million Stake in Salesforce, Inc. (NYSE:CRM)

Connor Clark & Lunn Investment Management Ltd. decreased its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 71.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 117,824 shares of the CRM provider's stock after selling 293,386 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Salesforce were worth $32,250,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in CRM. Capital Research Global Investors raised its stake in shares of Salesforce by 26.9% in the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider's stock valued at $4,329,925,000 after purchasing an additional 3,044,611 shares in the last quarter. Swedbank AB acquired a new stake in shares of Salesforce during the 1st quarter valued at about $874,748,000. Veritas Asset Management LLP bought a new stake in Salesforce in the third quarter valued at about $733,805,000. Massachusetts Financial Services Co. MA raised its position in Salesforce by 48.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider's stock worth $1,518,658,000 after purchasing an additional 1,922,674 shares in the last quarter. Finally, AMF Tjanstepension AB boosted its holdings in Salesforce by 376.1% during the second quarter. AMF Tjanstepension AB now owns 1,442,453 shares of the CRM provider's stock valued at $370,873,000 after purchasing an additional 1,139,472 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Insider Activity at Salesforce

In related news, COO Brian Millham sold 60,522 shares of the firm's stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Parker Harris sold 3,970 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total value of $1,178,057.80. Following the sale, the insider now owns 119,402 shares of the company's stock, valued at approximately $35,431,349.48. This trade represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 140,173 shares of company stock valued at $40,146,206 over the last quarter. Insiders own 3.20% of the company's stock.

Salesforce Stock Performance

Shares of NYSE:CRM traded up $2.27 during trading on Wednesday, reaching $325.70. The company had a trading volume of 3,761,100 shares, compared to its average volume of 6,295,385. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The stock's fifty day moving average price is $289.68 and its 200 day moving average price is $267.31. The firm has a market capitalization of $311.37 billion, a price-to-earnings ratio of 56.22, a price-to-earnings-growth ratio of 2.94 and a beta of 1.29. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $348.86.

Salesforce (NYSE:CRM - Get Free Report) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. The company had revenue of $9.33 billion for 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%. Salesforce's revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.63 earnings per share. As a group, equities research analysts predict that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Wednesday, September 18th. Salesforce's payout ratio is currently 27.83%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Erste Group Bank upgraded Salesforce from a "hold" rating to a "buy" rating in a research report on Tuesday. Sanford C. Bernstein boosted their target price on Salesforce from $234.00 to $236.00 and gave the company an "outperform" rating in a research note on Thursday, August 29th. Loop Capital upped their price objective on Salesforce from $270.00 to $340.00 and gave the stock a "hold" rating in a research report on Thursday, November 14th. UBS Group upped their target price on Salesforce from $250.00 to $275.00 and gave the stock a "neutral" rating in a report on Thursday, August 29th. Finally, Roth Mkm restated a "buy" rating and issued a $335.00 price objective on shares of Salesforce in a research note on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, Salesforce has an average rating of "Moderate Buy" and an average target price of $326.19.

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.