Intellectus Partners LLC Has $351,000 Holdings in Salesforce, Inc. (NYSE:CRM)

Intellectus Partners LLC decreased its position in Salesforce, Inc. (NYSE:CRM) by 74.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,281 shares of the CRM provider’s stock after selling 3,814 shares during the quarter. Intellectus Partners LLC’s holdings in Salesforce were worth $351,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CRM. Piscataqua Savings Bank raised its holdings in shares of Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. Clear Investment Research LLC grew its position in Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares in the last quarter. Stephens Consulting LLC lifted its position in Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after buying an additional 125 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce during the 2nd quarter worth about $33,000. Finally, Godsey & Gibb Inc. boosted its stake in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CRM. Wedbush increased their price target on Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Northland Securities raised Salesforce from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $270.00 to $400.00 in a report on Wednesday, October 2nd. Stifel Nicolaus boosted their target price on shares of Salesforce from $320.00 to $350.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Cfra set a $343.00 price target on shares of Salesforce in a research note on Thursday, October 17th. Finally, UBS Group boosted their price objective on shares of Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $322.51.

Insider Transactions at Salesforce

In related news, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Parker Harris sold 3,970 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total value of $1,178,057.80. Following the completion of the transaction, the insider now owns 119,402 shares of the company’s stock, valued at $35,431,349.48. This represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 144,373 shares of company stock valued at $41,250,680. 3.20% of the stock is currently owned by insiders.

Salesforce Price Performance

Shares of NYSE:CRM opened at $325.28 on Friday. The firm has a 50 day moving average of $284.99 and a 200-day moving average of $266.30. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $348.86. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $310.96 billion, a PE ratio of 56.57, a PEG ratio of 3.09 and a beta of 1.29.

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

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.49%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is 27.83%.

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.