Round Rock Advisors LLC Increases Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Round Rock Advisors LLC raised its stake in shares of Salesforce, Inc. (NYSE:CRM) by 43.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,122 shares of the CRM provider’s stock after purchasing an additional 342 shares during the quarter. Round Rock Advisors LLC’s holdings in Salesforce were worth $307,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Reynders McVeigh Capital Management LLC grew its stake in Salesforce by 12.4% in the first quarter. Reynders McVeigh Capital Management LLC now owns 905 shares of the CRM provider’s stock worth $273,000 after purchasing an additional 100 shares during the period. NorthRock Partners LLC boosted its stake in Salesforce by 13.2% during the first quarter. NorthRock Partners LLC now owns 10,294 shares of the CRM provider’s stock worth $3,100,000 after acquiring an additional 1,201 shares in the last quarter. Pointe Capital Management LLC grew its holdings in Salesforce by 13.1% in the first quarter. Pointe Capital Management LLC now owns 1,985 shares of the CRM provider’s stock worth $598,000 after purchasing an additional 230 shares during the period. Meeder Advisory Services Inc. lifted its holdings in shares of Salesforce by 6.5% during the first quarter. Meeder Advisory Services Inc. now owns 11,735 shares of the CRM provider’s stock valued at $3,534,000 after purchasing an additional 713 shares during the last quarter. Finally, Verus Capital Partners LLC boosted its position in shares of Salesforce by 4.2% in the 1st quarter. Verus Capital Partners LLC now owns 1,790 shares of the CRM provider’s stock worth $539,000 after purchasing an additional 72 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Price Performance

CRM stock opened at $321.95 on Friday. The company has a fifty day simple moving average of $277.76 and a two-hundred day simple moving average of $264.52. Salesforce, Inc. has a 52 week low of $208.84 and a 52 week high of $322.81. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $307.78 billion, a P/E ratio of 55.99, a price-to-earnings-growth ratio of 2.78 and a beta of 1.29.

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

Salesforce Dividend Announcement

The company also recently disclosed 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 0.50%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is 27.83%.

Insider Buying and Selling at Salesforce

In other news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $262.97, for a total value of $1,104,474.00. Following the completion of the sale, the insider now owns 117,581 shares in the company, valued at approximately $30,920,275.57. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Miguel Milano sold 2,934 shares of Salesforce stock in a transaction 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 completion of the sale, the insider now directly owns 3,716 shares in the company, valued at approximately $977,122.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total transaction of $1,104,474.00. Following the completion of the transaction, the insider now owns 117,581 shares in the company, valued at approximately $30,920,275.57. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 148,573 shares of company stock worth $42,319,874 over the last quarter. Insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

CRM has been the subject of a number of recent research reports. JMP Securities reiterated a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a research note on Wednesday, August 28th. TD Cowen upped their price target on shares of Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a research note on Thursday, August 29th. Northland Capmk raised shares of Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Cfra set a $343.00 price target on shares of Salesforce in a report on Thursday, October 17th. Finally, Evercore ISI restated an “outperform” rating and issued a $300.00 price objective on shares of Salesforce in a report on Monday, August 26th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $313.37.

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.