Burke & Herbert Bank & Trust Co. Buys Shares of 749 Salesforce, Inc. (NYSE:CRM)

Burke & Herbert Bank & Trust Co. bought a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the 3rd quarter, HoldingsChannel reports. The firm bought 749 shares of the CRM provider’s stock, valued at approximately $205,000.

Other hedge funds have also bought and sold shares of the company. Prentice Wealth Management LLC increased its position in Salesforce by 1.5% in the third quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock worth $686,000 after purchasing an additional 37 shares during the last quarter. Fox Hill Wealth Management increased its position in Salesforce by 4.0% in the first quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock worth $297,000 after purchasing an additional 38 shares during the last quarter. Pinnacle Wealth Planning Services Inc. increased its position in Salesforce by 0.8% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after purchasing an additional 38 shares during the last quarter. Fulton Bank N.A. increased its position in Salesforce by 0.4% in the third quarter. Fulton Bank N.A. now owns 9,269 shares of the CRM provider’s stock worth $2,537,000 after purchasing an additional 38 shares during the last quarter. Finally, CRA Financial Services LLC increased its position in Salesforce by 3.4% in the third quarter. CRA Financial Services LLC now owns 1,160 shares of the CRM provider’s stock worth $318,000 after purchasing an additional 38 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Performance

CRM opened at $290.46 on Friday. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. 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 company has a market cap of $281.46 billion, a P/E ratio of 52.24, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. The firm’s 50-day moving average price is $269.18 and its 200-day moving average price is $263.40.

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

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.55%. Salesforce’s dividend payout ratio (DPR) is currently 28.78%.

Insider Activity at Salesforce

In related news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $257.28, for a total value of $1,080,576.00. Following the sale, the insider now owns 117,581 shares in the company, valued at $30,251,239.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $257.28, for a total value of $1,080,576.00. Following the sale, the insider now owns 117,581 shares in the company, valued at $30,251,239.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Brian Millham sold 6,161 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $289.75, for a total value of $1,785,149.75. Following the completion of the sale, the chief operating officer now owns 969 shares in the company, valued at approximately $280,767.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 87,781 shares of company stock worth $23,696,593 over the last quarter. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Cfra set a $343.00 price objective on shares of Salesforce in a research note on Thursday, October 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a research note on Thursday, September 19th. Evercore ISI reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a research note on Monday, August 26th. Sanford C. Bernstein lifted their price objective on shares of Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Bank of America reaffirmed a “buy” rating and set a $325.00 price objective on shares of Salesforce in a research note on Friday, September 6th. Nine 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $312.51.

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.