2,099 Shares in Salesforce, Inc. (NYSE:CRM) Purchased by Tandem Capital Management Corp ADV

Tandem Capital Management Corp ADV bought a new position in Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,099 shares of the CRM provider’s stock, valued at approximately $702,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CRM. State Street Corp grew its position in Salesforce by 1.8% in the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after purchasing an additional 864,193 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after acquiring an additional 257,501 shares during the period. Fisher Asset Management LLC grew its position in shares of Salesforce by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock valued at $3,360,215,000 after acquiring an additional 314,530 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Salesforce by 1.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after acquiring an additional 57,825 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Salesforce by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider’s stock valued at $1,618,407,000 after acquiring an additional 96,381 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of research reports. Citigroup increased their target price on shares of Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Macquarie restated a “neutral” rating and set a $370.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Oppenheimer restated an “outperform” rating and set a $415.00 price target (up from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. Barclays upped their price target on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, BMO Capital Markets upped their price target on shares of Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $377.63.

Insider Transactions at Salesforce

In related news, insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total transaction of $614,040.00. Following the completion of the transaction, the insider now directly owns 19,116 shares of the company’s stock, valued at approximately $6,575,904. This trade represents a 8.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,104,699 shares of company stock valued at $382,108,847 over the last three months. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Down 0.7 %

CRM opened at $339.28 on Tuesday. 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 1-year low of $212.00 and a 1-year high of $369.00. The company has a market capitalization of $324.69 billion, a PE ratio of 55.80, a PEG ratio of 3.09 and a beta of 1.31. The firm’s 50 day simple moving average is $338.67 and its two-hundred day simple moving average is $297.99.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.62 earnings per share. As a group, equities analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.47%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

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.