Arvest Investments Inc. Has $264,000 Stock Position in Salesforce, Inc. (NYSE:CRM)

Arvest Investments Inc. raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 17.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 963 shares of the CRM provider’s stock after purchasing an additional 145 shares during the period. Arvest Investments Inc.’s holdings in Salesforce were worth $264,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Tyler Stone Wealth Management increased its holdings in Salesforce by 126.2% in the third quarter. Tyler Stone Wealth Management now owns 1,522 shares of the CRM provider’s stock worth $417,000 after buying an additional 849 shares during the last quarter. Baker Avenue Asset Management LP increased its stake in shares of Salesforce by 30.5% during the 3rd quarter. Baker Avenue Asset Management LP now owns 57,990 shares of the CRM provider’s stock worth $15,872,000 after purchasing an additional 13,540 shares during the last quarter. Round Rock Advisors LLC raised its holdings in shares of Salesforce by 43.8% during the 3rd quarter. Round Rock Advisors LLC now owns 1,122 shares of the CRM provider’s stock valued at $307,000 after purchasing an additional 342 shares in the last quarter. Legacy Capital Wealth Partners LLC boosted its holdings in Salesforce by 99.4% in the third quarter. Legacy Capital Wealth Partners LLC now owns 2,536 shares of the CRM provider’s stock worth $694,000 after purchasing an additional 1,264 shares in the last quarter. Finally, Arrow Financial Corp raised its holdings in Salesforce by 3.9% during the third quarter. Arrow Financial Corp now owns 26,235 shares of the CRM provider’s stock valued at $7,181,000 after buying an additional 985 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 3,970 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total value of $1,178,057.80. Following the completion of the sale, the insider now owns 119,402 shares of the company’s stock, valued at approximately $35,431,349.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Parker Harris sold 3,970 shares of Salesforce stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total value of $1,178,057.80. Following the completion of the sale, the insider now owns 119,402 shares of the company’s stock, valued at approximately $35,431,349.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Miguel Milano sold 2,934 shares of Salesforce stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $262.95, for a total transaction of $771,495.30. Following the transaction, the insider now owns 3,716 shares of the company’s stock, valued at $977,122.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,573 shares of company stock valued at $42,319,874. 3.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CRM shares. Stifel Nicolaus upped their target price on Salesforce from $320.00 to $350.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Citigroup boosted their target price on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. JMP Securities reissued a “market outperform” rating and issued a $342.00 price target on shares of Salesforce in a report on Wednesday, August 28th. Phillip Securities reaffirmed an “accumulate” rating and set a $305.00 price objective on shares of Salesforce in a research report on Friday, August 30th. Finally, Wedbush lifted their target price on Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $313.37.

Salesforce Price Performance

CRM stock opened at $321.95 on Monday. 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 firm has a market cap of $307.78 billion, a price-to-earnings ratio of 55.99, a PEG ratio of 2.78 and a beta of 1.29. The company’s fifty day simple moving average is $277.76 and its 200 day simple moving average is $264.43. Salesforce, Inc. has a 12-month low of $208.84 and a 12-month high of $322.81.

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

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is 27.83%.

About Salesforce

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.