Dudley Capital Management LLC Raises Stock Position in Salesforce, Inc. (NYSE:CRM)

Dudley Capital Management LLC boosted its position in Salesforce, Inc. (NYSE:CRM) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,274 shares of the CRM provider’s stock after purchasing an additional 51 shares during the quarter. Dudley Capital Management LLC’s holdings in Salesforce were worth $1,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in CRM. Piscataqua Savings Bank lifted 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 during the last quarter. Clear Investment Research LLC lifted 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 worth $28,000 after purchasing an additional 98 shares during the last quarter. Godsey & Gibb Inc. boosted its holdings in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce during the 2nd quarter valued at about $33,000. Finally, Stephens Consulting LLC grew its position in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 125 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Oppenheimer reaffirmed an “outperform” rating and set a $330.00 price objective (up from $300.00) on shares of Salesforce in a research note on Thursday, October 24th. Northland Securities upgraded Salesforce from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $270.00 to $400.00 in a research report on Wednesday, October 2nd. Roth Mkm restated a “buy” rating and issued a $335.00 target price on shares of Salesforce in a report on Thursday, August 29th. Wedbush upped their price target on shares of Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Finally, Stifel Nicolaus increased their price target on shares of Salesforce from $320.00 to $350.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average target price of $313.37.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the sale, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the transaction, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $254.57, for a total value of $1,069,194.00. Following the sale, the insider now directly owns 117,581 shares in the company, valued at $29,932,595.17. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 148,573 shares of company stock worth $42,319,874 in the last three months. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

NYSE:CRM opened at $310.78 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a 50-day simple moving average of $275.30 and a two-hundred day simple moving average of $263.86. The firm has a market capitalization of $297.11 billion, a PE ratio of 54.05, a P/E/G ratio of 2.70 and a beta of 1.29. Salesforce, Inc. has a 52-week low of $208.84 and a 52-week high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The company 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 firm’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.63 EPS. Analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.51%. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

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.