Salesforce, Inc. (NYSE:CRM) Position Raised by Mogy Joel R Investment Counsel Inc.

Mogy Joel R Investment Counsel Inc. raised its position in Salesforce, Inc. (NYSE:CRM) by 0.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 196,896 shares of the CRM provider’s stock after purchasing an additional 1,074 shares during the period. Salesforce accounts for 3.3% of Mogy Joel R Investment Counsel Inc.’s investment portfolio, making the stock its 9th largest holding. Mogy Joel R Investment Counsel Inc.’s holdings in Salesforce were worth $53,892,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Kapitalo Investimentos Ltda acquired a new position in shares of Salesforce in the 4th quarter valued at $51,000. RFG Advisory LLC boosted its stake in Salesforce by 23.4% during the 1st quarter. RFG Advisory LLC now owns 6,438 shares of the CRM provider’s stock worth $1,939,000 after purchasing an additional 1,220 shares during the period. MJP Associates Inc. ADV acquired a new stake in Salesforce during the 1st quarter worth $288,000. &PARTNERS boosted its stake in Salesforce by 229.3% during the 1st quarter. &PARTNERS now owns 4,330 shares of the CRM provider’s stock worth $1,304,000 after purchasing an additional 3,015 shares during the period. Finally, Unique Wealth LLC boosted its stake in Salesforce by 135.4% during the 1st quarter. Unique Wealth LLC now owns 3,646 shares of the CRM provider’s stock worth $1,098,000 after purchasing an additional 2,097 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. BMO Capital Markets increased their price target on shares of Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Stifel Nicolaus increased their price target on shares of Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Royal Bank of Canada reiterated an “outperform” rating and set a $300.00 price target on shares of Salesforce in a research note on Thursday, September 19th. Phillip Securities restated an “accumulate” rating and set a $305.00 price objective on shares of Salesforce in a research report on Friday, August 30th. Finally, JMP Securities restated a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a research report on Wednesday, August 28th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $311.66.

Salesforce Trading Up 0.7 %

CRM opened at $293.07 on Friday. The stock has a market capitalization of $283.98 billion, a PE ratio of 52.71, a P/E/G ratio of 2.61 and a beta of 1.30. The firm’s fifty day moving average price is $266.65 and its 200 day moving average price is $263.77. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71.

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

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued 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 presently 28.78%.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $229,434.66. Following the sale, the chief financial officer now directly owns 51,109 shares of the company’s stock, valued at approximately $13,072,660.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $229,434.66. Following the sale, the chief financial officer now directly owns 51,109 shares of the company’s stock, valued at approximately $13,072,660.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maynard G. Webb, Jr. sold 9,170 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the sale, the director now directly owns 1,363 shares in the company, valued at $376,624.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,612 shares of company stock valued at $21,429,961. Company insiders own 3.20% of the company’s stock.

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.