Cable Hill Partners LLC Grows Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Cable Hill Partners LLC raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,481 shares of the CRM provider’s stock after acquiring an additional 115 shares during the quarter. Salesforce makes up 0.4% of Cable Hill Partners LLC’s investment portfolio, making the stock its 21st biggest holding. Cable Hill Partners LLC’s holdings in Salesforce were worth $3,508,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Arlington Trust Co LLC grew its stake in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new position in shares of Salesforce during the fourth quarter worth approximately $30,000. Asset Planning Inc acquired a new position in shares of Salesforce in the 4th quarter valued at $31,000. Collier Financial purchased a new stake in Salesforce in the 4th quarter valued at $32,000. Finally, Infrastructure Capital Advisors LLC acquired a new stake in Salesforce during the 3rd quarter worth $27,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider Miguel Milano sold 458 shares of Salesforce stock in a transaction on Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the completion of the sale, the insider now owns 5,864 shares of the company’s stock, valued at $1,805,936.08. The trade was a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total value of $2,041,607.78. Following the completion of the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $15,342,415. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,102,572 shares of company stock valued at $381,283,706. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Bank of America upped their target price on shares of Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Oppenheimer reaffirmed an “outperform” rating and set a $415.00 price objective (up from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. Loop Capital lowered their target price on Salesforce from $360.00 to $330.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company boosted their target price on Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a report on Tuesday, November 12th. Finally, The Goldman Sachs Group increased their price target on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $374.47.

Salesforce Stock Performance

NYSE CRM opened at $307.19 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The business has a fifty day moving average of $330.86 and a 200-day moving average of $306.97. The stock has a market cap of $293.98 billion, a price-to-earnings ratio of 50.53, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31.

Salesforce (NYSE:CRM) last announced its 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). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same period in the previous year, the firm posted $1.62 EPS. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal 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 given a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.52%. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Salesforce Company 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.