Heartland Bank & Trust Co Sells 130 Shares of Salesforce, Inc. (NYSE:CRM)

Heartland Bank & Trust Co lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 6.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,014 shares of the CRM provider’s stock after selling 130 shares during the quarter. Heartland Bank & Trust Co’s holdings in Salesforce were worth $551,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Courier Capital LLC grew its holdings in Salesforce by 2.6% during the third quarter. Courier Capital LLC now owns 13,270 shares of the CRM provider’s stock valued at $3,632,000 after purchasing an additional 337 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its holdings in Salesforce by 74.4% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 12,424 shares of the CRM provider’s stock valued at $3,401,000 after purchasing an additional 5,299 shares during the last quarter. Sterling Investment Counsel LLC grew its holdings in Salesforce by 1.4% during the third quarter. Sterling Investment Counsel LLC now owns 3,779 shares of the CRM provider’s stock valued at $1,034,000 after purchasing an additional 53 shares during the last quarter. TFG Advisers LLC grew its holdings in Salesforce by 5.6% during the third quarter. TFG Advisers LLC now owns 3,075 shares of the CRM provider’s stock valued at $842,000 after purchasing an additional 163 shares during the last quarter. Finally, Greenleaf Trust grew its holdings in Salesforce by 0.8% during the third quarter. Greenleaf Trust now owns 99,803 shares of the CRM provider’s stock valued at $27,317,000 after purchasing an additional 805 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on CRM shares. Royal Bank of Canada reiterated an “outperform” rating and set a $300.00 price target on shares of Salesforce in a report on Thursday, September 19th. JMP Securities reiterated a “market outperform” rating and set a $342.00 price target on shares of Salesforce in a report on Wednesday, August 28th. Oppenheimer raised their price objective on shares of Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Morgan Stanley raised their price objective on shares of Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Finally, Evercore ISI restated an “outperform” rating and issued a $300.00 price objective on shares of Salesforce in a research note on Monday, August 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $311.66.

Salesforce Price Performance

Shares of CRM stock opened at $284.37 on Thursday. The stock has a 50-day moving average price of $268.70 and a 200 day moving average price of $263.24. 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 $275.55 billion, a price-to-earnings ratio of 51.15, a PEG ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 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 analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the company earned $1.63 earnings per share. Research analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.56%. Salesforce’s payout ratio is currently 28.78%.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total transaction of $1,217,454.00. Following the completion of the transaction, the insider now directly owns 118,514 shares in the company, valued at approximately $34,353,653.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $255,905.13. Following the completion of the transaction, the chief financial officer now directly owns 52,930 shares in the company, valued at approximately $15,100,399.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $289.87, for a total value of $1,217,454.00. Following the completion of the sale, the insider now owns 118,514 shares in the company, valued at $34,353,653.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,812 shares of company stock worth $23,418,916. 3.20% of the stock is currently owned by company insiders.

Salesforce Company 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.