American Century Companies Inc. Increases Position in Salesforce, Inc. (NYSE:CRM)

American Century Companies Inc. lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 1.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,811,354 shares of the CRM provider’s stock after buying an additional 67,930 shares during the quarter. Salesforce makes up 0.7% of American Century Companies Inc.’s holdings, making the stock its 13th largest holding. American Century Companies Inc. owned 0.40% of Salesforce worth $1,274,250,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Arlington Trust Co LLC lifted its position in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new stake in Salesforce during the 4th quarter valued at approximately $30,000. Asset Planning Inc purchased a new position in Salesforce in the 4th quarter worth approximately $31,000. Collier Financial bought a new position in Salesforce in the 4th quarter worth approximately $32,000. Finally, Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce during the third quarter valued at approximately $27,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 0.9 %

NYSE CRM opened at $281.56 on Friday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $270.58 billion, a price-to-earnings ratio of 46.31, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company’s 50-day simple moving average is $313.51 and its two-hundred day simple moving average is $309.49.

Insider Activity at Salesforce

In related news, COO Brian Millham sold 16,487 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $340.68, for a total transaction of $5,616,791.16. Following the sale, the chief operating officer now owns 1,662 shares of the company’s stock, valued at $566,210.16. This trade represents a 90.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,256 shares of company stock valued at $19,692,357 over the last ninety days. 3.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CRM shares. Guggenheim restated a “sell” rating and set a $247.00 target price on shares of Salesforce in a research report on Thursday, February 27th. JPMorgan Chase & Co. increased their price objective on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Wedbush reaffirmed an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Northland Securities reissued an “outperform” rating and set a $440.00 price target (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, Canaccord Genuity Group cut their price target on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $362.74.

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.