Salesforce, Inc. (NYSE:CRM) Shares Sold by Greater Midwest Financial Group LLC

Greater Midwest Financial Group LLC trimmed its stake in shares of Salesforce, Inc. (NYSE:CRM) by 0.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,676 shares of the CRM provider’s stock after selling 92 shares during the period. Salesforce comprises 3.3% of Greater Midwest Financial Group LLC’s holdings, making the stock its 10th largest position. Greater Midwest Financial Group LLC’s holdings in Salesforce were worth $5,659,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CRM. Naviter Wealth LLC increased its holdings in Salesforce by 18.7% in the third quarter. Naviter Wealth LLC now owns 9,528 shares of the CRM provider’s stock valued at $2,612,000 after buying an additional 1,502 shares in the last quarter. Probity Advisors Inc. grew its position in shares of Salesforce by 6.2% during the 3rd quarter. Probity Advisors Inc. now owns 3,163 shares of the CRM provider’s stock valued at $866,000 after acquiring an additional 184 shares during the period. Kowal Investment Group LLC increased its stake in shares of Salesforce by 112.0% in the 3rd quarter. Kowal Investment Group LLC now owns 1,772 shares of the CRM provider’s stock valued at $485,000 after purchasing an additional 936 shares in the last quarter. Beech Hill Advisors Inc. increased its stake in shares of Salesforce by 2.4% in the 3rd quarter. Beech Hill Advisors Inc. now owns 14,735 shares of the CRM provider’s stock valued at $4,033,000 after purchasing an additional 346 shares in the last quarter. Finally, FLC Capital Advisors grew its position in shares of Salesforce by 2.7% in the third quarter. FLC Capital Advisors now owns 3,400 shares of the CRM provider’s stock valued at $931,000 after purchasing an additional 88 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Evercore ISI reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a research note on Monday, August 26th. Oppenheimer boosted their price target on Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Needham & Company LLC restated a “buy” rating and issued a $345.00 price objective on shares of Salesforce in a report on Friday, September 20th. Roth Mkm reaffirmed a “buy” rating and set a $335.00 price target on shares of Salesforce in a research report on Thursday, August 29th. Finally, Canaccord Genuity Group raised their target price on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $310.74.

Salesforce Stock Up 0.2 %

Shares of NYSE:CRM traded up $0.59 during trading hours on Thursday, reaching $291.45. The stock had a trading volume of 210,836 shares, compared to its average volume of 6,417,813. The stock has a market capitalization of $282.42 billion, a price-to-earnings ratio of 52.32, a P/E/G ratio of 2.61 and a beta of 1.30. The firm’s 50 day moving average is $265.00 and its 200-day moving average is $263.65. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04.

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

Salesforce Announces Dividend

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 $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.55%. Salesforce’s dividend payout ratio is currently 28.78%.

Insiders Place Their Bets

In other news, Director Maynard G. Webb, Jr. sold 9,170 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $276.32, for a total value of $2,533,854.40. Following the completion of the transaction, the director now owns 1,363 shares in the company, valued at approximately $376,624.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Salesforce news, insider R David Schmaier sold 1,155 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 $295,425.90. Following the completion of the sale, the insider now owns 20,556 shares in the company, valued at approximately $5,257,813.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Maynard G. Webb, Jr. sold 9,170 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $276.32, for a total value of $2,533,854.40. Following the completion of the sale, the director now directly owns 1,363 shares of the company’s stock, valued at $376,624.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,612 shares of company stock valued at $21,429,961. 3.20% of the stock is owned by corporate insiders.

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.