Salesforce, Inc. (NYSE:CRM) Stock Holdings Increased by CRA Financial Services LLC

CRA Financial Services LLC raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 3.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,160 shares of the CRM provider’s stock after purchasing an additional 38 shares during the quarter. CRA Financial Services LLC’s holdings in Salesforce were worth $318,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CRM. Ruedi Wealth Management Inc. boosted its stake in shares of Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 56 shares in the last quarter. Piscataqua Savings Bank lifted its holdings in shares of Salesforce by 2,400.0% during 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 boosted its position in shares of Salesforce by 816.7% in the 2nd 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 during the period. Red Tortoise LLC purchased a new position in Salesforce in the 1st quarter worth about $33,000. Finally, Stephens Consulting LLC raised its holdings 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 during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on CRM. Roth Mkm reiterated a “buy” rating and issued a $335.00 target price on shares of Salesforce in a report on Thursday, August 29th. BNP Paribas raised shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. UBS Group increased their target price on Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. raised their target price on Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, Bank of America reissued a “buy” rating and set a $325.00 price target on shares of Salesforce in a research report on Friday, September 6th. Nine analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $310.74.

Salesforce Stock Down 0.7 %

CRM stock opened at $288.10 on Friday. The stock has a market capitalization of $275.42 billion, a price-to-earnings ratio of 50.10, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. The company has a 50-day moving average of $261.93 and a two-hundred day moving average of $263.88. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter last year, the firm posted $1.63 EPS. The company’s revenue was up 8.5% on a year-over-year basis. As a group, equities research analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors 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 0.56%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is currently 27.83%.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $229,434.66. Following the transaction, the chief financial officer now owns 51,109 shares in the company, valued at approximately $13,072,660.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Amy E. Weaver sold 897 shares of the company’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 $229,434.66. Following the completion of the transaction, the chief financial officer now directly owns 51,109 shares in the company, valued at approximately $13,072,660.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider R David Schmaier sold 1,155 shares of Salesforce stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $295,425.90. Following the sale, the insider now owns 20,556 shares in the company, valued at $5,257,813.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 80,612 shares of company stock valued at $21,283,087 in the last ninety days. Company 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.