Nicollet Investment Management Inc. Boosts Holdings in Salesforce, Inc. (NYSE:CRM)

Nicollet Investment Management Inc. increased its holdings in Salesforce, Inc. (NYSE:CRM) by 1.3% in the third quarter, Holdings Channel.com reports. The firm owned 15,243 shares of the CRM provider’s stock after acquiring an additional 201 shares during the period. Salesforce makes up approximately 1.4% of Nicollet Investment Management Inc.’s investment portfolio, making the stock its 27th biggest position. Nicollet Investment Management Inc.’s holdings in Salesforce were worth $4,172,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Piscataqua Savings Bank raised its holdings in Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after buying an additional 96 shares during the last quarter. Clear Investment Research LLC increased its holdings in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares during the period. Stephens Consulting LLC raised its position in Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Salesforce in the 2nd quarter worth approximately $33,000. Finally, Godsey & Gibb Inc. increased its stake in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 1.9 %

CRM opened at $325.28 on Friday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $348.86. The company has a market capitalization of $310.96 billion, a P/E ratio of 56.57, a PEG ratio of 3.09 and a beta of 1.29. The stock’s fifty day moving average is $286.61 and its two-hundred day moving average is $266.64. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.

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

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is currently 27.83%.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction on 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 transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $30,920,275.57. The trade was a 3.45 % 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 the SEC website. Also, COO Brian Millham sold 60,522 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00. The disclosure for this sale can be found here. Insiders have sold 144,373 shares of company stock worth $41,250,680 over the last quarter. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a research report on Wednesday, August 28th. Bank of America boosted their price objective on shares of Salesforce from $325.00 to $390.00 and gave the company a “buy” rating in a report on Wednesday. Loop Capital upped their price objective on Salesforce from $270.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday. Oppenheimer restated an “outperform” rating and set a $330.00 price target (up from $300.00) on shares of Salesforce in a research note on Thursday, October 24th. Finally, Cfra set a $343.00 price objective on shares of Salesforce in a report on Thursday, October 17th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $322.51.

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.