Allen Capital Group LLC Grows Holdings in Salesforce, Inc. (NYSE:CRM)

Allen Capital Group LLC grew its holdings in Salesforce, Inc. (NYSE:CRM) by 25.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,022 shares of the CRM provider’s stock after purchasing an additional 205 shares during the period. Allen Capital Group LLC’s holdings in Salesforce were worth $280,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Piscataqua Savings Bank increased its stake in Salesforce by 2,400.0% in 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 during the period. Clear Investment Research LLC increased its stake in Salesforce by 816.7% in 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 period. Stephens Consulting LLC increased its stake in 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 purchasing an additional 125 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in Salesforce in the second quarter worth $33,000. Finally, Godsey & Gibb Inc. increased its stake in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the topic of several research reports. JPMorgan Chase & Co. raised their price target on Salesforce from $310.00 to $340.00 and gave the company an “overweight” rating in a research note on Wednesday. Stifel Nicolaus raised 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. Roth Mkm restated a “buy” rating and set a $335.00 price target on shares of Salesforce in a research note on Thursday, August 29th. Phillip Securities restated an “accumulate” rating and set a $305.00 price target on shares of Salesforce in a research note on Friday, August 30th. Finally, DA Davidson raised their price target on Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $336.37.

Insider Activity at Salesforce

In related news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $262.90, for a total transaction of $1,104,180.00. Following the completion of the transaction, the insider now directly owns 117,581 shares in the company, valued at approximately $30,912,044.90. This trade represents a 3.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,991 shares of company stock worth $43,333,238. 3.20% of the stock is owned by corporate insiders.

Salesforce Trading Up 1.9 %

Salesforce stock opened at $342.12 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $348.86. The company has a market capitalization of $327.07 billion, a price-to-earnings ratio of 59.50, a price-to-earnings-growth ratio of 2.93 and a beta of 1.29. The stock has a 50-day moving average price of $294.61 and a 200 day moving average price of $268.66.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the previous year, the company posted $1.63 earnings per share. The company’s revenue was up 8.5% compared to the same quarter last year. Sell-side analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.47%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 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.