Zurcher Kantonalbank Zurich Cantonalbank Has $151.88 Million Stake in Salesforce, Inc. (NYSE:CRM)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Salesforce, Inc. (NYSE:CRM) by 5.0% during the third quarter, HoldingsChannel reports. The firm owned 554,880 shares of the CRM provider’s stock after buying an additional 26,486 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Salesforce were worth $151,876,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CRM. Piscataqua Savings Bank boosted its position in Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after buying an additional 96 shares in the last quarter. Clear Investment Research LLC lifted its stake in shares of 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 acquiring an additional 98 shares during the last quarter. Godsey & Gibb Inc. lifted its stake in shares of Salesforce by 300.0% in the 3rd 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 last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce during the 2nd quarter valued at $33,000. Finally, Stephens Consulting LLC grew its position in Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 125 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Performance

NYSE CRM opened at $330.01 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $299.57 and a 200 day simple moving average of $269.87. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $348.86. The company has a market cap of $315.49 billion, a P/E ratio of 57.39, a PEG ratio of 3.07 and a beta of 1.29.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period last year, the company earned $1.63 earnings per share. The business’s revenue was up 8.5% on a year-over-year basis. Sell-side analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. Salesforce’s dividend payout ratio (DPR) is currently 27.83%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. BMO Capital Markets increased their target price on Salesforce from $305.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Needham & Company LLC reiterated a “buy” rating and issued a $345.00 price objective on shares of Salesforce in a report on Friday, September 20th. TD Cowen boosted their target price on shares of Salesforce from $290.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, November 21st. Morgan Stanley upped their price target on shares of Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Finally, FBN Securities upgraded shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $341.89.

Insiders Place Their Bets

In related news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Miguel Milano sold 719 shares of Salesforce stock in a transaction on Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the transaction, the insider now directly owns 4,659 shares in the company, valued at $1,597,151.79. This represents a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 144,510 shares of company stock valued at $42,475,538. Corporate insiders own 3.20% of the company’s stock.

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.