Salesforce, Inc. (NYSE:CRM) Holdings Boosted by SPC Financial Inc.

SPC Financial Inc. grew its holdings in Salesforce, Inc. (NYSE:CRM) by 3.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,995 shares of the CRM provider’s stock after purchasing an additional 71 shares during the period. SPC Financial Inc.’s holdings in Salesforce were worth $546,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Ruedi Wealth Management Inc. increased its stake in Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after buying an additional 56 shares during the period. Piscataqua Savings Bank grew its holdings in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares in the last quarter. Red Tortoise LLC acquired a new position in shares of Salesforce in the first quarter worth $33,000. Clear Investment Research LLC raised its holdings in shares of Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Salesforce during the second quarter valued at $33,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CRM shares. JMP Securities reaffirmed a “market outperform” rating and set a $342.00 price target on shares of Salesforce in a research note on Wednesday, August 28th. BMO Capital Markets raised their price objective on shares of Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Robert W. Baird boosted their target price on shares of Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. UBS Group raised their price target on shares of Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $300.00 price objective on shares of Salesforce in a report on Thursday, September 19th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $310.74.

Salesforce Trading Up 0.1 %

Shares of CRM stock opened at $291.12 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a fifty day moving average of $265.84 and a 200-day moving average of $263.84. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The stock has a market cap of $282.10 billion, a price-to-earnings ratio of 52.36, a P/E/G ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter last year, the company earned $1.63 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, equities research analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Insiders Place Their Bets

In other news, insider R David Schmaier sold 1,155 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $295,425.90. Following the sale, the insider now owns 20,556 shares of the company’s stock, valued at approximately $5,257,813.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Salesforce news, COO Brian Millham sold 2,037 shares of Salesforce stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $248.75, for a total value of $506,703.75. Following the completion of the transaction, the chief operating officer now owns 1,947 shares in the company, valued at approximately $484,316.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider R David Schmaier sold 1,155 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $295,425.90. Following the completion of the transaction, the insider now directly owns 20,556 shares in the company, valued at approximately $5,257,813.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 80,612 shares of company stock worth $21,429,961 over the last three months. 3.20% of the stock is currently owned by corporate insiders.

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.