Salesforce, Inc. (NYSE:CRM) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. decreased its position in shares of Salesforce, Inc. (NYSE:CRM) by 43.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 4,807 shares of the CRM provider’s stock after selling 3,745 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Salesforce were worth $1,316,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Salesforce by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock worth $25,490,446,000 after buying an additional 1,008,841 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Salesforce by 26.9% in the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after acquiring an additional 3,044,611 shares during the last quarter. Capital International Investors grew its holdings in Salesforce by 3.0% in the first quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock valued at $4,251,592,000 after purchasing an additional 407,834 shares during the period. Legal & General Group Plc boosted its holdings in shares of Salesforce by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock valued at $2,141,562,000 after purchasing an additional 176,641 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Salesforce by 48.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock valued at $1,518,658,000 after purchasing an additional 1,922,674 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Down 3.0 %

Salesforce stock opened at $331.56 on Friday. The firm’s 50 day moving average price is $283.28 and its two-hundred day moving average price is $265.84. The firm has a market cap of $316.97 billion, a PE ratio of 57.66, a P/E/G ratio of 3.09 and a beta of 1.29. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $348.86. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04.

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

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is 27.83%.

Analysts Set New Price Targets

Several research analysts recently weighed in on CRM shares. FBN Securities raised Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. TD Cowen raised their price objective on Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 price target on shares of Salesforce in a research report on Friday, September 20th. Bank of America increased their price objective on shares of Salesforce from $325.00 to $390.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, DA Davidson increased their target price on Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $322.51.

Insider Buying and Selling

In other news, insider Miguel Milano sold 2,934 shares of Salesforce stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $262.95, for a total transaction of $771,495.30. Following the sale, the insider now owns 3,716 shares of the company’s stock, valued at approximately $977,122.20. This trade represents a 44.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 144,373 shares of company stock valued at $41,250,680. Insiders own 3.20% of the company’s stock.

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.