Victory Capital Management Inc. Has $167.41 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Victory Capital Management Inc. lessened its stake in Salesforce, Inc. (NYSE:CRM) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 636,183 shares of the CRM provider’s stock after selling 11,714 shares during the quarter. Victory Capital Management Inc. owned approximately 0.07% of Salesforce worth $167,405,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CRM. Cerity Partners LLC boosted its holdings in shares of Salesforce by 1,254.7% in the 4th quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock valued at $916,693,000 after buying an additional 3,226,512 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Salesforce by 23,653.7% during the 4th quarter. International Assets Investment Management LLC now owns 1,406,220 shares of the CRM provider’s stock valued at $370,033,000 after purchasing an additional 1,400,300 shares during the last quarter. Lone Pine Capital LLC lifted its holdings in Salesforce by 47.5% during the 3rd quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider’s stock valued at $506,875,000 after purchasing an additional 804,634 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Salesforce by 330.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 935,885 shares of the CRM provider’s stock valued at $189,779,000 after purchasing an additional 718,245 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Salesforce during the 3rd quarter valued at $114,521,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the subject of several research reports. Jefferies Financial Group raised their price target on Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Wells Fargo & Company boosted their target price on shares of Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 21st. Argus raised their price target on shares of Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Canaccord Genuity Group reiterated a “buy” rating and issued a $350.00 price objective on shares of Salesforce in a research note on Thursday, March 7th. Finally, KeyCorp assumed coverage on shares of Salesforce in a research report on Thursday, March 21st. They set a “sector weight” rating on the stock. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $310.61.

Salesforce Stock Performance

NYSE:CRM opened at $268.69 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. Salesforce, Inc. has a fifty-two week low of $190.76 and a fifty-two week high of $318.71. The company has a 50 day simple moving average of $295.04 and a two-hundred day simple moving average of $265.67. The company has a market capitalization of $260.63 billion, a PE ratio of 63.97, a P/E/G ratio of 2.07 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the previous year, the business earned $1.01 earnings per share. Salesforce’s revenue for the quarter was up 10.8% on a year-over-year basis. Research analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.60%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is currently 9.52%.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total value of $662,388.75. Following the transaction, the chief accounting officer now owns 5,856 shares in the company, valued at $1,599,566.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the transaction, the chief accounting officer now directly owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amy E. Weaver sold 942 shares of Salesforce stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $305.46, for a total transaction of $287,743.32. Following the transaction, the chief financial officer now owns 39,416 shares of the company’s stock, valued at $12,040,011.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 614,993 shares of company stock worth $180,212,524. Company insiders own 3.70% of the company’s stock.

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.