Winslow Capital Management LLC Decreases Position in Salesforce, Inc. (NYSE:CRM)

Winslow Capital Management LLC cut its holdings in Salesforce, Inc. (NYSE:CRM) by 40.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,545 shares of the CRM provider’s stock after selling 1,067 shares during the quarter. Winslow Capital Management LLC’s holdings in Salesforce were worth $517,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CRM. United Bank grew its holdings in shares of Salesforce by 1.1% during the third quarter. United Bank now owns 7,303 shares of the CRM provider’s stock valued at $1,999,000 after buying an additional 76 shares during the last quarter. Continuum Advisory LLC increased its stake in shares of Salesforce by 14.1% in the third quarter. Continuum Advisory LLC now owns 3,675 shares of the CRM provider’s stock worth $1,006,000 after acquiring an additional 453 shares during the period. M&T Bank Corp grew its position in Salesforce by 5.5% during the 3rd quarter. M&T Bank Corp now owns 193,314 shares of the CRM provider’s stock worth $52,912,000 after purchasing an additional 10,084 shares during the period. Resources Management Corp CT ADV lifted its holdings in shares of Salesforce by 1.1% in the 3rd quarter. Resources Management Corp CT ADV now owns 6,007 shares of the CRM provider’s stock valued at $1,644,000 after buying an additional 65 shares during the period. Finally, Brophy Wealth Management LLC purchased a new stake in Salesforce in the 3rd quarter worth $1,290,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Loop Capital lowered their price target on Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Bank of America cut their price target on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and lifted their target price for the company from $380.00 to $400.00 in a research report on Friday, January 17th. JMP Securities reissued a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Guggenheim restated a “sell” rating and issued a $247.00 price objective on shares of Salesforce in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $361.42.

Salesforce Stock Down 0.2 %

Shares of Salesforce stock opened at $243.63 on Wednesday. The company has a fifty day moving average price of $295.86 and a 200 day moving average price of $311.01. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The stock has a market cap of $234.13 billion, a price-to-earnings ratio of 40.07, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be given a $0.42 dividend. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. This represents a $1.68 annualized dividend and a yield of 0.69%. Salesforce’s dividend payout ratio (DPR) is 26.10%.

Insider Buying and Selling at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the transaction, the chief financial officer now owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. This represents a 11.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,660 shares of company stock valued at $14,095,336 over the last 90 days. 3.20% of the stock is owned by corporate insiders.

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.