MassMutual Private Wealth & Trust FSB Has $8.80 Million Stake in Salesforce, Inc. (NYSE:CRM)

MassMutual Private Wealth & Trust FSB increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 6.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,807 shares of the CRM provider’s stock after purchasing an additional 1,888 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Salesforce were worth $8,804,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Salesforce in the 4th quarter valued at $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Salesforce by 926.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider’s stock valued at $1,422,979,000 after acquiring an additional 3,841,521 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Salesforce in the fourth quarter worth about $1,173,564,000. Invesco Ltd. increased its position in Salesforce by 42.5% in the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock worth $2,604,770,000 after purchasing an additional 2,325,156 shares during the period. Finally, Northern Trust Corp raised its holdings in Salesforce by 18.3% during the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock worth $3,752,830,000 after purchasing an additional 1,736,667 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Down 0.8%

Shares of CRM stock opened at $275.07 on Thursday. The firm’s fifty day moving average price is $268.16 and its two-hundred day moving average price is $305.79. 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 1 year low of $212.00 and a 1 year high of $369.00. The firm has a market capitalization of $264.45 billion, a P/E ratio of 45.24, a PEG ratio of 2.58 and a beta of 1.42.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.03. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. During the same quarter in the previous year, the business earned $2.44 earnings per share. Salesforce’s quarterly revenue was up 7.6% on a year-over-year basis. On average, equities analysts predict that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Thursday, April 10th. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio is presently 26.10%.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $275.00, for a total value of $137,500.00. Following the sale, the chief accounting officer now owns 11,711 shares in the company, valued at $3,220,525. This represents a 4.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value of $1,872,521.00. Following the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $14,071,750. This represents a 11.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,553 shares of company stock valued at $12,897,323. 3.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on CRM. Mizuho reduced their target price on shares of Salesforce from $425.00 to $380.00 and set an “outperform” rating on the stock in a research note on Thursday, May 15th. Guggenheim upgraded Salesforce from a “sell” rating to a “neutral” rating in a research report on Monday, April 21st. Oppenheimer dropped their price objective on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. UBS Group cut their target price on Salesforce from $320.00 to $300.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Cantor Fitzgerald started coverage on Salesforce in a research report on Wednesday, April 23rd. They set an “overweight” rating and a $210.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $348.59.

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.