Prudent Man Advisors LLC Sells 177 Shares of Salesforce, Inc. (NYSE:CRM)

Prudent Man Advisors LLC cut its position in shares of Salesforce, Inc. (NYSE:CRM) by 4.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,870 shares of the CRM provider’s stock after selling 177 shares during the period. Prudent Man Advisors LLC’s holdings in Salesforce were worth $1,059,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Piscataqua Savings Bank raised its holdings in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 96 shares in the last quarter. Clear Investment Research LLC raised its stake in Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares in the last quarter. Godsey & Gibb Inc. lifted its position in Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Salesforce in the 2nd quarter worth $33,000. Finally, Stephens Consulting LLC grew its stake in shares of Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after buying an additional 125 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on CRM. Citigroup increased their price target on shares of Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a report on Monday, August 26th. JPMorgan Chase & Co. raised their price objective on Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. DA Davidson boosted their target price on Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Royal Bank of Canada restated an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a research report on Thursday, September 19th. Finally, TD Cowen lifted their price objective on shares of Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a research note on Thursday, August 29th. Nine investment 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $322.51.

Salesforce Stock Down 1.9 %

Salesforce stock opened at $325.26 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a market cap of $310.95 billion, a P/E ratio of 56.57, a P/E/G ratio of 2.94 and a beta of 1.29. The business has a fifty day moving average of $286.61 and a two-hundred day moving average of $266.61. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $348.86.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $9.22 billion. During the same period in the prior year, the business posted $1.63 EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. On average, analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is currently 27.83%.

Insider Buying and Selling

In related news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total transaction of $1,104,474.00. Following the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at $30,920,275.57. This represents a 3.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Miguel Milano sold 2,934 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $262.95, for a total value of $771,495.30. Following the completion of the sale, the insider now owns 3,716 shares of the company’s stock, valued at approximately $977,122.20. This trade represents a 44.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 144,373 shares of company stock worth $41,250,680 in the last 90 days. 3.20% of the stock is owned by corporate insiders.

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.