Sompo Asset Management Co. Ltd. Has $9.97 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Sompo Asset Management Co. Ltd. boosted its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 35.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,432 shares of the CRM provider's stock after buying an additional 9,622 shares during the quarter. Salesforce makes up about 1.6% of Sompo Asset Management Co. Ltd.'s holdings, making the stock its 15th biggest position. Sompo Asset Management Co. Ltd.'s holdings in Salesforce were worth $9,972,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in CRM. Piscataqua Savings Bank lifted its holdings in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider's stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. Clear Investment Research LLC boosted its position in Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider's stock worth $28,000 after acquiring an additional 98 shares during the last quarter. Godsey & Gibb Inc. raised its holdings in 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 acquiring an additional 90 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Salesforce during the 2nd quarter worth $33,000. Finally, Stephens Consulting LLC boosted its holdings in shares of Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider's stock worth $33,000 after purchasing an additional 125 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now owns 7,006 shares of the company's stock, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Brian Millham sold 14,808 shares of the company's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $338.95, for a total value of $5,019,171.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,991 shares of company stock worth $43,333,238. 3.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CRM shares. Scotiabank initiated coverage on Salesforce in a research report on Monday, November 18th. They set a "sector outperform" rating and a $425.00 target price on the stock. FBN Securities upgraded shares of Salesforce to a "strong-buy" rating in a report on Thursday, August 29th. Canaccord Genuity Group lifted their price target on shares of Salesforce from $300.00 to $315.00 and gave the company a "buy" rating in a report on Thursday, August 29th. Robert W. Baird upped their price objective on Salesforce from $295.00 to $315.00 and gave the stock an "outperform" rating in a report on Thursday, August 29th. Finally, Stifel Nicolaus lifted their target price on Salesforce from $320.00 to $350.00 and gave the company a "buy" rating in a report on Monday, October 28th. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $336.37.

Salesforce Price Performance

CRM stock traded up $6.24 during trading on Friday, hitting $342.02. The company had a trading volume of 5,649,365 shares, compared to its average volume of 5,844,599. The firm has a market capitalization of $326.97 billion, a price-to-earnings ratio of 59.48, a P/E/G ratio of 3.04 and a beta of 1.29. 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 business has a 50 day moving average of $294.61 and a 200 day moving average of $268.60. 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 quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.20. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business's revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the business earned $1.63 earnings per share. As a group, research analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.47%. The ex-dividend date was Wednesday, September 18th. Salesforce's dividend payout ratio is currently 27.83%.

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.