Independence Bank of Kentucky Has $4.16 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Independence Bank of Kentucky decreased its position in shares of Salesforce, Inc. (NYSE:CRM) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,439 shares of the CRM provider’s stock after selling 314 shares during the period. Independence Bank of Kentucky’s holdings in Salesforce were worth $4,159,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce during the 3rd quarter valued at $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce in the second quarter worth about $33,000. Godsey & Gibb Inc. lifted its holdings in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares during the last quarter. Annapolis Financial Services LLC boosted its holdings in shares of Salesforce by 135.6% during 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 period. Finally, FSA Wealth Management LLC bought a new stake in Salesforce during the third quarter valued at about $53,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brian Millham sold 708 shares of the business’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $235,254.24. Following the completion of the sale, the chief operating officer now directly owns 1,239 shares in the company, valued at approximately $411,694.92. This represents a 36.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,669 shares of company stock valued at $383,286,905 over the last 90 days. 3.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

CRM has been the topic of several recent analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Morgan Stanley upped their target price on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. raised their price target on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Cfra set a $343.00 price objective on shares of Salesforce in a research report on Thursday, October 17th. Finally, Royal Bank of Canada lifted their target price on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Salesforce Price Performance

Shares of CRM opened at $341.80 on Friday. 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 cap of $327.10 billion, a P/E ratio of 56.22, a price-to-earnings-growth ratio of 3.20 and a beta of 1.30. The stock’s 50-day moving average price is $338.67 and its two-hundred day moving average price is $297.37. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00.

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). The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.62 EPS. On average, equities analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. Salesforce’s dividend payout ratio (DPR) 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.