Salesforce, Inc. (NYSE:CRM) Shares Sold by Windward Capital Management Co. CA

Windward Capital Management Co. CA lowered its position in Salesforce, Inc. (NYSE:CRM) by 0.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 197,869 shares of the CRM provider’s stock after selling 205 shares during the period. Salesforce accounts for 4.1% of Windward Capital Management Co. CA’s portfolio, making the stock its 4th largest holding. Windward Capital Management Co. CA’s holdings in Salesforce were worth $54,159,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Umpqua Bank increased its position in shares of Salesforce by 0.4% during the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after purchasing an additional 34 shares during the last quarter. Nvwm LLC increased its holdings in Salesforce by 1.4% during the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock worth $667,000 after buying an additional 36 shares during the last quarter. Prentice Wealth Management LLC raised its position in Salesforce by 1.5% during the third quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock worth $686,000 after acquiring an additional 37 shares in the last quarter. Private Wealth Management Group LLC lifted its stake in Salesforce by 11.6% in the third quarter. Private Wealth Management Group LLC now owns 357 shares of the CRM provider’s stock valued at $98,000 after acquiring an additional 37 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. grew its position in shares of Salesforce by 0.8% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock valued at $1,490,000 after acquiring an additional 38 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CRM has been the subject of several recent analyst reports. Bank of America reiterated a “buy” rating and issued a $325.00 target price on shares of Salesforce in a research note on Friday, September 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $300.00 target price on shares of Salesforce in a research note on Thursday, September 19th. Stifel Nicolaus increased their price target on Salesforce from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Raymond James raised their price target on Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Finally, Loop Capital reiterated a “hold” rating and issued a $270.00 price objective on shares of Salesforce in a report on Thursday, September 19th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $313.37.

Salesforce Trading Up 3.6 %

Shares of CRM stock opened at $321.87 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. Salesforce, Inc. has a fifty-two week low of $208.84 and a fifty-two week high of $322.81. The company has a market cap of $307.71 billion, a PE ratio of 55.98, a P/E/G ratio of 2.70 and a beta of 1.29. The stock’s fifty day moving average price is $277.76 and its two-hundred day moving average price is $264.52.

Salesforce (NYSE:CRM) last released its earnings results 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. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the business posted $1.63 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities analysts predict that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 27.83%.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $262.97, for a total value of $1,104,474.00. Following the sale, the insider now owns 117,581 shares of the company’s stock, valued at $30,920,275.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s 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 transaction, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This represents 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 90 days. 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.