Mackenzie Financial Corp Lowers Position in Salesforce, Inc. (NYSE:CRM)

Mackenzie Financial Corp trimmed its stake in Salesforce, Inc. (NYSE:CRM) by 10.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 238,056 shares of the CRM provider’s stock after selling 28,729 shares during the quarter. Mackenzie Financial Corp’s holdings in Salesforce were worth $62,642,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Bear Mountain Capital Inc. purchased a new stake in Salesforce in the fourth quarter valued at approximately $26,000. Pacifica Partners Inc. lifted its position in Salesforce by 333.3% during the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after buying an additional 100 shares in the last quarter. BKM Wealth Management LLC acquired a new position in Salesforce during the fourth quarter valued at approximately $34,000. GHP Investment Advisors Inc. lifted its position in Salesforce by 30.4% during the fourth quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock valued at $36,000 after buying an additional 63 shares in the last quarter. Finally, Live Oak Investment Partners acquired a new position in Salesforce during the fourth quarter valued at approximately $36,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Salesforce news, COO Brian Millham sold 293,965 shares of Salesforce stock in a transaction on Friday, January 19th. The shares were sold at an average price of $280.00, for a total transaction of $82,310,200.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CAO Sundeep G. Reddy sold 216 shares of the business’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total value of $60,201.36. Following the sale, the chief accounting officer now owns 2,869 shares in the company, valued at approximately $799,618.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brian Millham sold 293,965 shares of the business’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $280.00, for a total transaction of $82,310,200.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 897,375 shares of company stock valued at $260,206,096. 3.70% of the stock is owned by company insiders.

Salesforce Trading Up 1.7 %

Shares of CRM stock opened at $277.41 on Wednesday. Salesforce, Inc. has a 12 month low of $190.57 and a 12 month high of $318.71. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $298.35 and its two-hundred day moving average is $260.79. The company has a market cap of $269.09 billion, a PE ratio of 66.05, a price-to-earnings-growth ratio of 2.10 and a beta of 1.28.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter last year, the company posted $1.01 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities analysts predict that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. Salesforce’s dividend payout ratio is 9.52%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. TheStreet raised shares of Salesforce from a “c+” rating to a “b-” rating in a research report on Friday, January 19th. JPMorgan Chase & Co. boosted their target price on shares of Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. BMO Capital Markets boosted their target price on shares of Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Citigroup boosted their target price on shares of Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Finally, KeyCorp initiated coverage on shares of Salesforce in a research note on Thursday, March 21st. They set a “sector weight” rating for the company. Nine 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 has a consensus rating of “Moderate Buy” and a consensus price target of $307.87.

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.