Salesforce, Inc. (NYSE:CRM) Holdings Decreased by ST Germain D J Co. Inc.

ST Germain D J Co. Inc. lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 22,619 shares of the CRM provider’s stock after selling 400 shares during the period. ST Germain D J Co. Inc.’s holdings in Salesforce were worth $6,191,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CRM. Prentice Wealth Management LLC grew its holdings in Salesforce by 1.5% during the third quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock valued at $686,000 after purchasing an additional 37 shares during the period. Fox Hill Wealth Management boosted its holdings in shares of Salesforce by 4.0% in the first quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock valued at $297,000 after buying an additional 38 shares during the period. Pinnacle Wealth Planning Services Inc. increased its position in shares of Salesforce by 0.8% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after acquiring an additional 38 shares in the last quarter. Fulton Bank N.A. lifted its position in Salesforce by 0.4% in the 3rd quarter. Fulton Bank N.A. now owns 9,269 shares of the CRM provider’s stock valued at $2,537,000 after acquiring an additional 38 shares in the last quarter. Finally, CRA Financial Services LLC increased its holdings in Salesforce by 3.4% during the 3rd quarter. CRA Financial Services LLC now owns 1,160 shares of the CRM provider’s stock worth $318,000 after purchasing an additional 38 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total value of $1,217,454.00. Following the completion of the sale, the insider now directly owns 118,514 shares of the company’s stock, valued at $34,353,653.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Parker Harris sold 4,200 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total value of $1,217,454.00. Following the completion of the sale, the insider now directly owns 118,514 shares of the company’s stock, valued at approximately $34,353,653.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $229,434.66. Following the transaction, the chief financial officer now directly owns 51,109 shares in the company, valued at $13,072,660.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 80,612 shares of company stock valued at $21,429,961 over the last three months. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CRM shares. Wedbush upped their price objective on Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 target price on shares of Salesforce in a research report on Friday, September 20th. BNP Paribas raised Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Roth Mkm reissued a “buy” rating and set a $335.00 price target on shares of Salesforce in a research report on Thursday, August 29th. Finally, Loop Capital reaffirmed a “hold” rating and set a $270.00 price target on shares of Salesforce in a research report on Thursday, September 19th. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $311.66.

Salesforce Stock Up 0.6 %

CRM stock traded up $1.83 during trading on Friday, reaching $292.94. 3,087,902 shares of the stock were exchanged, compared to its average volume of 6,414,292. The firm’s 50 day moving average is $266.65 and its 200 day moving average is $263.77. The firm has a market cap of $283.86 billion, a P/E ratio of 52.71, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating 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 firm had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the previous year, the company posted $1.63 earnings per share. The company’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, research analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 28.78%.

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.