Salesforce, Inc. (NYSE:CRM) Shares Sold by Integrated Investment Consultants LLC

Integrated Investment Consultants LLC lessened its holdings in Salesforce, Inc. (NYSE:CRM) by 11.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,458 shares of the CRM provider’s stock after selling 195 shares during the period. Integrated Investment Consultants LLC’s holdings in Salesforce were worth $399,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Salesforce by 42.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 757,583 shares of the CRM provider’s stock valued at $207,358,000 after purchasing an additional 227,359 shares during the period. Citizens Financial Group Inc. RI grew its stake in shares of Salesforce by 0.9% in the third quarter. Citizens Financial Group Inc. RI now owns 81,696 shares of the CRM provider’s stock valued at $22,383,000 after buying an additional 694 shares in the last quarter. Payden & Rygel raised its holdings in shares of Salesforce by 14.6% during the 3rd quarter. Payden & Rygel now owns 4,700 shares of the CRM provider’s stock valued at $1,286,000 after buying an additional 600 shares during the period. EverSource Wealth Advisors LLC lifted its position in Salesforce by 0.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 6,356 shares of the CRM provider’s stock worth $1,740,000 after acquiring an additional 41 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its holdings in Salesforce by 3.1% in the 3rd quarter. Moors & Cabot Inc. now owns 40,113 shares of the CRM provider’s stock worth $10,979,000 after acquiring an additional 1,189 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the company’s 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 sale, 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 5.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the completion of the sale, the chief financial officer now owns 52,930 shares in the company, valued at $15,100,399.70. The trade was a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,991 shares of company stock worth $43,333,238 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CRM shares. Citigroup boosted their target price on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Sanford C. Bernstein upped their price objective on shares of Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. JMP Securities boosted their price target on Salesforce from $342.00 to $450.00 and gave the stock a “market outperform” rating in a research note on Friday. DA Davidson increased their price target on Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, Wells Fargo & Company upped their target price on Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 12th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $336.37.

Salesforce Price Performance

Shares of NYSE CRM opened at $342.12 on Friday. The firm’s 50-day simple moving average is $294.61 and its 200 day simple moving average is $268.66. The stock has a market cap of $327.07 billion, a P/E ratio of 59.50, a P/E/G ratio of 2.93 and a beta of 1.29. 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 fifty-two week low of $212.00 and a fifty-two week high of $348.86.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same period in the prior year, the business posted $1.63 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio 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.