FUKOKU MUTUAL LIFE INSURANCE Co Boosts Position in Salesforce, Inc. (NYSE:CRM)

FUKOKU MUTUAL LIFE INSURANCE Co lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 6.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,416 shares of the CRM provider’s stock after buying an additional 332 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Salesforce were worth $1,482,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Piscataqua Savings Bank increased its holdings in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 96 shares during the period. Clear Investment Research LLC grew its position in Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after buying an additional 98 shares in the last quarter. Stephens Consulting LLC increased its stake 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 buying an additional 125 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in shares of 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 acquiring an additional 90 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Performance

Shares of Salesforce stock opened at $331.56 on Friday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $348.86. The firm has a market cap of $316.97 billion, a price-to-earnings ratio of 57.66, a price-to-earnings-growth ratio of 3.09 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The stock’s 50-day moving average is $283.28 and its 200-day moving average is $265.84.

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

Salesforce Announces Dividend

The firm 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 0.48%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is presently 27.83%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. TD Cowen upped their price objective on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Citigroup boosted their target price on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Needham & Company LLC restated a “buy” rating and issued a $345.00 price target on shares of Salesforce in a research report on Friday, September 20th. BMO Capital Markets raised their price objective on Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Raymond James increased their price target on Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. Nine research 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 stock. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $320.23.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The shares were 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 owns 7,006 shares in the company, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Amy E. Weaver sold 897 shares of the 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 sale, 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. Over the last 90 days, insiders sold 144,373 shares of company stock worth $41,250,680. 3.20% of the stock is currently owned by insiders.

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.