Everence Capital Management Inc. Reduces Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Everence Capital Management Inc. trimmed its stake in Salesforce, Inc. (NYSE:CRM) by 7.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,040 shares of the CRM provider’s stock after selling 1,800 shares during the period. Everence Capital Management Inc.’s holdings in Salesforce were worth $7,703,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Aviance Capital Partners LLC lifted its holdings in shares of Salesforce by 0.5% during the third quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock worth $1,860,000 after purchasing an additional 33 shares during the period. EWA LLC raised its position in Salesforce by 1.7% during the 3rd quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock worth $548,000 after buying an additional 33 shares during the last quarter. Umpqua Bank lifted its stake in Salesforce by 0.4% during the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock valued at $2,110,000 after acquiring an additional 34 shares during the period. Principal Street Partners LLC lifted its stake in Salesforce by 1.0% during the 3rd quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock valued at $891,000 after acquiring an additional 34 shares during the period. Finally, Nvwm LLC increased its stake in shares of Salesforce by 1.4% in the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock worth $667,000 after acquiring an additional 36 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 0.4 %

CRM stock traded up $1.32 during midday trading on Friday, hitting $331.98. 1,103,080 shares of the company’s stock were exchanged, compared to its average volume of 2,908,929. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $317.70 billion, a PE ratio of 54.60, a P/E/G ratio of 3.21 and a beta of 1.30. The business has a 50-day simple moving average of $331.96 and a two-hundred day simple moving average of $285.33.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same period in the previous year, the business posted $1.62 earnings per share. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, sell-side analysts predict that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. Salesforce’s payout ratio is currently 26.32%.

Insider Activity at Salesforce

In related news, insider R David Schmaier sold 1,785 shares of Salesforce stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the completion of the transaction, the insider now owns 19,116 shares in the company, valued at approximately $6,575,904. The trade was a 8.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the 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 sale, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,186,017 shares of company stock worth $405,971,793. Insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on CRM shares. Cfra set a $343.00 price target on Salesforce in a research report on Thursday, October 17th. Canaccord Genuity Group raised their target price on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. JMP Securities reissued a “market outperform” rating and issued a $450.00 price target on shares of Salesforce in a report on Wednesday, December 18th. The Goldman Sachs Group raised their price objective on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Citigroup lifted their target price on shares of Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Eight investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $378.86.

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.