Zions Bancorporation N.A. Grows Position in Salesforce, Inc. (NYSE:CRM)

Zions Bancorporation N.A. grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 10.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,866 shares of the CRM provider’s stock after buying an additional 1,663 shares during the period. Zions Bancorporation N.A.’s holdings in Salesforce were worth $4,890,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CRM. Piscataqua Savings Bank increased its position in Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after buying an additional 96 shares in the last quarter. Clear Investment Research LLC increased its position 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 buying an additional 98 shares in the last quarter. Stephens Consulting LLC boosted its holdings in shares of Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 125 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce during the second quarter worth $33,000. Finally, Godsey & Gibb Inc. boosted its holdings in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 0.2 %

Shares of NYSE CRM opened at $341.72 on Thursday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $348.86. The firm has a market cap of $326.68 billion, a price-to-earnings ratio of 59.43, a PEG ratio of 3.09 and a beta of 1.29. 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’s 50-day simple moving average is $283.28 and its 200-day simple moving average is $265.84.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate 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%. Salesforce’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.63 earnings per share. As a group, equities analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share 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 $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 27.83%.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of the business’s 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 sale, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at $1,998,741.74. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $290.23, for a total value of $145,115.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,506 shares in the company, valued at $1,888,236.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction that occurred on 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. The trade was a 0.00 % 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 valued at $41,250,680 over the last three months. 3.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on CRM. Morgan Stanley raised their price objective on Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. JMP Securities restated a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a report on Wednesday, August 28th. Truist Financial restated a “buy” rating and set a $315.00 price objective (up previously from $300.00) on shares of Salesforce in a report on Thursday, September 19th. Canaccord Genuity Group raised their price objective on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Northland Securities upgraded Salesforce from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $270.00 to $400.00 in a report on Wednesday, October 2nd. Nine investment 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $318.23.

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.