599 Shares in Salesforce, Inc. (NYSE:CRM) Purchased by Rockland Trust Co.

Rockland Trust Co. bought a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, Holdings Channel reports. The firm bought 599 shares of the CRM provider’s stock, valued at approximately $200,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Infrastructure Capital Advisors LLC bought a new position in Salesforce during the third quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL purchased a new stake in Salesforce during the 2nd quarter valued at $33,000. Godsey & Gibb Inc. lifted its holdings in shares of Salesforce by 300.0% during the 3rd 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. Annapolis Financial Services LLC boosted its stake in shares of Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after buying an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new stake in shares of Salesforce in the third quarter worth $53,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CRM. Stifel Nicolaus raised their target price on Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Jefferies Financial Group boosted their target price on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Oppenheimer reiterated an “outperform” rating and issued a $415.00 price target (up from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. Scotiabank boosted their price objective on shares of Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $376.05.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the completion of the transaction, the chief financial officer now directly owns 52,930 shares in the company, valued at $15,100,399.70. This trade represents a 1.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,177,617 shares of company stock worth $403,542,975 over the last 90 days. Company insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Shares of Salesforce stock opened at $321.01 on Thursday. The stock has a market cap of $307.21 billion, a price-to-earnings ratio of 52.80, a price-to-earnings-growth ratio of 3.20 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a 50 day moving average price of $336.76 and a 200-day moving average price of $290.66. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter last year, the firm earned $1.62 EPS. The company’s revenue was up 8.3% on a year-over-year basis. Equities analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.50%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is currently 26.32%.

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.