Retirement Systems of Alabama Has $56.43 Million Stake in Salesforce, Inc. (NYSE:CRM)

Retirement Systems of Alabama decreased its holdings in Salesforce, Inc. (NYSE:CRM) by 2.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 214,440 shares of the CRM provider’s stock after selling 5,792 shares during the quarter. Retirement Systems of Alabama’s holdings in Salesforce were worth $56,428,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. MGO Private Wealth LLC acquired a new stake in Salesforce in the 4th quarter worth about $232,000. Meridian Wealth Partners LLC acquired a new stake in Salesforce in the 4th quarter worth about $201,000. Convergence Investment Partners LLC raised its stake in Salesforce by 6.2% in the 4th quarter. Convergence Investment Partners LLC now owns 3,292 shares of the CRM provider’s stock worth $866,000 after purchasing an additional 193 shares in the last quarter. Legacy Capital Wealth Partners LLC acquired a new stake in Salesforce in the 4th quarter worth about $239,000. Finally, Paradigm Financial Partners LLC raised its position in shares of Salesforce by 159.9% in the 4th quarter. Paradigm Financial Partners LLC now owns 9,692 shares of the CRM provider’s stock valued at $2,550,000 after buying an additional 5,963 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $315.54, for a total transaction of $4,733,100.00. Following the transaction, the chief executive officer now owns 13,311,166 shares in the company, valued at $4,200,205,319.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $315.54, for a total transaction of $4,733,100.00. Following the transaction, the chief executive officer now owns 13,311,166 shares in the company, valued at approximately $4,200,205,319.64. The disclosure for this sale can be found here. Insiders have sold 620,793 shares of company stock worth $182,177,918 in the last quarter. Company insiders own 3.70% of the company’s stock.

Salesforce Trading Up 0.4 %

Shares of NYSE:CRM traded up $1.15 during trading on Friday, reaching $274.29. The stock had a trading volume of 3,754,585 shares, compared to its average volume of 5,162,527. The firm’s fifty day moving average is $295.97 and its 200 day moving average is $264.30. 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 52 week low of $190.76 and a 52 week high of $318.71. The stock has a market cap of $266.06 billion, a price-to-earnings ratio of 65.31, a P/E/G ratio of 2.11 and a beta of 1.28.

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 analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the previous year, the company earned $1.01 EPS. Salesforce’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, equities analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.58%. Salesforce’s payout ratio is presently 9.52%.

Analysts Set New Price Targets

Several equities analysts have recently commented on CRM shares. Argus boosted their target price on shares of Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Oppenheimer boosted their target price on shares of Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Monday, February 12th. Stifel Nicolaus restated a “buy” rating and issued a $350.00 target price on shares of Salesforce in a research report on Wednesday, April 3rd. Bank of America boosted their target price on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Finally, Mizuho reaffirmed a “buy” rating and set a $345.00 price target (up from $325.00) on shares of Salesforce in a report on Thursday, February 29th. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.61.

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.