1,301 Shares in Salesforce, Inc. (NYSE:CRM) Purchased by SYM FINANCIAL Corp

SYM FINANCIAL Corp purchased a new stake in Salesforce, Inc. (NYSE:CRM) in the second quarter, Holdings Channel reports. The firm purchased 1,301 shares of the CRM provider’s stock, valued at approximately $334,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. GHP Investment Advisors Inc. grew its holdings in Salesforce by 38.3% during the 2nd quarter. GHP Investment Advisors Inc. now owns 206 shares of the CRM provider’s stock worth $53,000 after acquiring an additional 57 shares in the last quarter. Meeder Advisory Services Inc. boosted its stake in shares of Salesforce by 37.2% during the second quarter. Meeder Advisory Services Inc. now owns 16,097 shares of the CRM provider’s stock valued at $4,139,000 after purchasing an additional 4,362 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Salesforce by 0.8% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,239,543 shares of the CRM provider’s stock valued at $319,846,000 after buying an additional 10,325 shares during the period. Main Street Financial Solutions LLC raised its stake in Salesforce by 12.5% in the second quarter. Main Street Financial Solutions LLC now owns 4,701 shares of the CRM provider’s stock worth $1,209,000 after buying an additional 522 shares in the last quarter. Finally, Vest Financial LLC lifted its holdings in Salesforce by 7.8% during the second quarter. Vest Financial LLC now owns 1,939 shares of the CRM provider’s stock worth $499,000 after buying an additional 140 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the sale, the chief accounting officer now owns 6,431 shares in the company, valued at $1,644,921.18. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $229,434.66. Following the transaction, the chief financial officer now owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the transaction, the chief accounting officer now directly owns 6,431 shares in the company, valued at approximately $1,644,921.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,376 shares of company stock worth $15,878,005. 3.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CRM. Evercore ISI reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a research report on Monday, August 26th. Citigroup increased their price target on shares of Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Robert W. Baird increased their price target on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Jefferies Financial Group cut their price objective on shares of Salesforce from $360.00 to $350.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Finally, Wedbush restated an “outperform” rating and set a $315.00 price objective on shares of Salesforce in a report on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $304.41.

Salesforce Stock Up 1.6 %

Shares of NYSE:CRM opened at $253.46 on Friday. The business has a 50-day moving average price of $253.73 and a 200 day moving average price of $268.67. 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 market capitalization of $242.31 billion, a price-to-earnings ratio of 45.59, a PEG ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71.

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, topping analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the company earned $1.63 EPS. Sell-side analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Wednesday, September 18th. Salesforce’s payout ratio is presently 28.78%.

About Salesforce

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.