Pacer Advisors Inc. boosted its position in shares of Salesforce Inc. (NYSE:CRM – Free Report) by 32.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,991,616 shares of the CRM provider’s stock after acquiring an additional 486,403 shares during the quarter. Salesforce accounts for 0.6% of Pacer Advisors Inc.’s portfolio, making the stock its 29th biggest holding. Pacer Advisors Inc. owned 0.24% of Salesforce worth $371,775,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of CRM. Temasek Holdings Private Ltd boosted its holdings in Salesforce by 3.7% in the 4th quarter. Temasek Holdings Private Ltd now owns 683,790 shares of the CRM provider’s stock worth $181,143,000 after buying an additional 24,332 shares during the period. SFE Investment Counsel increased its stake in Salesforce by 82.7% in the 4th quarter. SFE Investment Counsel now owns 17,394 shares of the CRM provider’s stock worth $4,608,000 after buying an additional 7,871 shares in the last quarter. Secured Retirement Advisors LLC bought a new stake in Salesforce during the first quarter valued at about $1,004,000. TAM Capital Management Inc. purchased a new position in shares of Salesforce in the first quarter valued at about $40,945,000. Finally, Hilton Head Capital Partners LLC purchased a new position in shares of Salesforce in the fourth quarter valued at about $997,000. Institutional investors own 80.43% of the company’s stock.
Salesforce Price Performance
Shares of Salesforce stock opened at $184.34 on Monday. The firm has a market cap of $150.98 billion, a PE ratio of 21.34, a PEG ratio of 1.00 and a beta of 1.18. The stock has a 50 day moving average of $170.34 and a 200 day moving average of $184.49. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.15. Salesforce Inc. has a 12 month low of $146.32 and a 12 month high of $269.11.
Salesforce Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, June 11th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.0%. The ex-dividend date was Thursday, June 11th. Salesforce’s payout ratio is currently 20.37%.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on CRM. CLSA began coverage on Salesforce in a research report on Monday, July 20th. They set a “hold” rating and a $165.00 target price for the company. Guggenheim raised Salesforce from a “neutral” rating to a “buy” rating and set a $228.00 price target on the stock in a report on Wednesday, July 1st. Roth Capital restated a “buy” rating and issued a $325.00 price target on shares of Salesforce in a research note on Thursday, May 28th. HSBC increased their price objective on shares of Salesforce from $350.00 to $356.00 and gave the company a “buy” rating in a report on Friday, May 29th. Finally, Royal Bank Of Canada cut shares of Salesforce from a “sector perform” rating to a “sector perform” rating in a research report on Wednesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, sixteen have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $249.51.
Check Out Our Latest Research Report on Salesforce
About Salesforce
Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.
Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.
See Also
- Five stocks we like better than Salesforce
- 3 Fixed-Income ETFs Show Why Yield Is Only Part of the Income Story
- AbbVie Quietly Solved Its Biggest Problem—Now What?
- Rio Tinto’s Results Make the Case for Looking Beyond Tech in the AI Trade
- Strategy’s Structural Strength: Hidden in a $8 Billion Illusion
Receive News & Ratings for Salesforce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salesforce and related companies with MarketBeat.com's FREE daily email newsletter.
