Somerset Trust Co Takes Position in Salesforce, Inc. (NYSE:CRM)

Somerset Trust Co purchased a new position in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 866 shares of the CRM provider’s stock, valued at approximately $290,000.

Several other institutional investors have also added to or reduced their stakes in the company. Aviance Capital Partners LLC lifted its holdings in shares of Salesforce by 0.5% during the third quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock worth $1,860,000 after buying an additional 33 shares in the last quarter. EWA LLC increased its position in Salesforce by 1.7% during the third quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock worth $548,000 after acquiring an additional 33 shares during the period. Umpqua Bank raised its stake in Salesforce by 0.4% in the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after purchasing an additional 34 shares in the last quarter. Principal Street Partners LLC boosted its holdings in Salesforce by 1.0% in the 3rd quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock valued at $891,000 after purchasing an additional 34 shares during the period. Finally, Nvwm LLC grew its position in shares of Salesforce by 1.4% during the 3rd quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock worth $667,000 after purchasing an additional 36 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Up 1.5 %

Shares of CRM opened at $324.77 on Friday. The stock’s 50-day moving average price is $337.25 and its two-hundred day moving average price is $291.08. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a market capitalization of $310.81 billion, a PE ratio of 53.42, a PEG ratio of 2.87 and a beta of 1.30. 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 (NYSE:CRM) last announced its 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 net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the previous year, the company earned $1.62 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. On average, analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.49%. Salesforce’s payout ratio is 26.32%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Loop Capital lifted their price target on shares of Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Stifel Nicolaus lifted their price objective on Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. DA Davidson raised their price target on Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, Wedbush reiterated an “outperform” rating and set a $425.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $377.63.

Insider Buying and Selling at Salesforce

In related news, CEO Marc Benioff sold 317,105 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the transaction, the chief executive officer now owns 12,162,457 shares in the company, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the completion of the sale, the chief financial officer now owns 52,930 shares of the company’s stock, valued at $15,100,399.70. The trade was a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,183,838 shares of company stock valued at $405,595,158. 3.20% of the stock is currently owned by 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.