20,658 Shares in Salesforce, Inc. (NYSE:CRM) Bought by Stevens Capital Management LP

Stevens Capital Management LP acquired a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the third quarter, Holdings Channel.com reports. The firm acquired 20,658 shares of the CRM provider’s stock, valued at approximately $5,654,000. Salesforce comprises about 0.8% of Stevens Capital Management LP’s portfolio, making the stock its 24th biggest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. U.S. Capital Wealth Advisors LLC grew its holdings in shares of Salesforce by 1.3% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 7,125 shares of the CRM provider’s stock worth $1,832,000 after purchasing an additional 94 shares during the last quarter. BDF Gestion bought a new position in shares of Salesforce in the second quarter worth about $7,302,000. Manning & Napier Advisors LLC bought a new position in shares of Salesforce in the second quarter worth about $44,708,000. CCM Investment Advisers LLC grew its holdings in shares of Salesforce by 0.9% in the second quarter. CCM Investment Advisers LLC now owns 65,170 shares of the CRM provider’s stock worth $16,755,000 after purchasing an additional 572 shares during the last quarter. Finally, OLD National Bancorp IN grew its holdings in shares of Salesforce by 0.7% in the second quarter. OLD National Bancorp IN now owns 78,746 shares of the CRM provider’s stock worth $20,246,000 after purchasing an additional 521 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Salesforce stock opened at $367.94 on Thursday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The company’s fifty day moving average price is $306.55 and its 200 day moving average price is $271.81. The stock has a market capitalization of $351.75 billion, a P/E ratio of 60.52, a P/E/G ratio of 3.00 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.31% and a net margin of 15.96%. The company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the prior year, the firm earned $1.62 EPS. The firm’s revenue was up 8.3% on a year-over-year basis. As a group, equities research analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CRM shares. Jefferies Financial Group upped their price target on shares of Salesforce from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Cfra set a $343.00 target price on shares of Salesforce in a report on Thursday, October 17th. Morgan Stanley increased their target price on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday. Sanford C. Bernstein increased their target price on shares of Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Raymond James increased their price target on shares of Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $370.50.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Miguel Milano sold 719 shares of Salesforce stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $342.81, for a total value of $246,480.39. Following the completion of the transaction, the insider now directly owns 4,659 shares of the company’s stock, valued at $1,597,151.79. The trade was a 13.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 140,982 shares of company stock valued at $41,591,457 in the last three months. 3.20% of the stock is owned by corporate insiders.

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.