Mutual of America Capital Management LLC Has $38.28 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Mutual of America Capital Management LLC lowered its position in shares of Salesforce, Inc. (NYSE:CRM) by 4.0% in the fourth quarter, HoldingsChannel reports. The fund owned 114,511 shares of the CRM provider’s stock after selling 4,795 shares during the period. Salesforce makes up 0.4% of Mutual of America Capital Management LLC’s portfolio, making the stock its 25th largest position. Mutual of America Capital Management LLC’s holdings in Salesforce were worth $38,284,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CRM. Nvest Financial LLC boosted its stake in Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after buying an additional 31 shares in the last quarter. OMC Financial Services LTD raised its position in Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after purchasing an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after purchasing an additional 31 shares during the last quarter. Sachetta LLC raised its position in Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after purchasing an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC raised its position in Salesforce by 1.0% in the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after purchasing an additional 32 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock opened at $297.63 on Friday. The firm has a market capitalization of $284.83 billion, a P/E ratio of 48.95, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31. The business’s fifty day simple moving average is $329.11 and its 200 day simple moving average is $307.21. 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 12 month low of $212.00 and a 12 month high of $369.00.

Salesforce (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.62 earnings per share. As a group, analysts anticipate that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.54%. Salesforce’s payout ratio is presently 26.32%.

Insider Buying and Selling at Salesforce

In related news, CEO Marc Benioff sold 317,105 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the sale, the chief executive officer now directly owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total value of $2,133,803.00. Following the sale, the chief financial officer now owns 53,861 shares in the company, valued at approximately $18,474,323. The trade was a 10.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,102,572 shares of company stock worth $381,283,706 over the last ninety days. 3.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CRM has been the subject of several research reports. Royal Bank of Canada increased their target price on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Morgan Stanley increased their target price on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group dropped their target price on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday. Jefferies Financial Group raised their price objective on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, UBS Group raised their price objective on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average target price of $365.32.

About Salesforce

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.