Salesforce, Inc. (NYSE:CRM) Shares Acquired by Lingohr Asset Management GmbH

Lingohr Asset Management GmbH increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 48.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,065 shares of the CRM provider’s stock after purchasing an additional 1,003 shares during the period. Salesforce makes up approximately 2.0% of Lingohr Asset Management GmbH’s investment portfolio, making the stock its 17th largest position. Lingohr Asset Management GmbH’s holdings in Salesforce were worth $839,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CRM. Piscataqua Savings Bank lifted its position in shares of 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 purchasing an additional 96 shares in the last quarter. Clear Investment Research LLC increased its stake in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after buying an additional 98 shares during the period. Godsey & Gibb Inc. lifted its holdings in Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Salesforce in the 2nd quarter valued at approximately $33,000. Finally, Stephens Consulting LLC grew its stake in shares of Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 125 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Down 0.9 %

CRM opened at $322.25 on Tuesday. 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 $212.00 and a 12 month high of $348.86. The stock has a market capitalization of $308.07 billion, a P/E ratio of 56.04, a P/E/G ratio of 2.94 and a beta of 1.29. The business has a 50 day simple moving average of $288.14 and a 200-day simple moving average of $266.96.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS 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 analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.63 earnings per share. On average, 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 paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.50%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is currently 27.83%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Bank of America lifted their target price on Salesforce from $325.00 to $390.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Sanford C. Bernstein raised their target price on shares of Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Needham & Company LLC reissued a “buy” rating and issued a $345.00 target price on shares of Salesforce in a report on Friday, September 20th. Raymond James lifted their price target on Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Finally, Stifel Nicolaus upped their price objective on Salesforce from $320.00 to $350.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Nine research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $325.36.

Insiders Place Their Bets

In other news, COO Brian Millham sold 60,522 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total transaction of $18,156,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 3,970 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total value of $1,178,057.80. Following the completion of the sale, the insider now directly owns 119,402 shares in the company, valued at approximately $35,431,349.48. The trade was a 3.22 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 140,173 shares of company stock worth $40,146,206. 3.20% of the stock is owned by corporate insiders.

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.