Salesforce, Inc. (NYSE:CRM) Shares Bought by MayTech Global Investments LLC

MayTech Global Investments LLC increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 18.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 121,831 shares of the CRM provider’s stock after buying an additional 18,961 shares during the quarter. Salesforce comprises about 4.4% of MayTech Global Investments LLC’s portfolio, making the stock its 9th biggest position. MayTech Global Investments LLC’s holdings in Salesforce were worth $33,346,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Piscataqua Savings Bank lifted its holdings in shares of Salesforce by 2,400.0% in the 2nd 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 raised its holdings 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 during the last quarter. Stephens Consulting LLC lifted 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 valued at $33,000 after buying an additional 125 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce during the second quarter valued at about $33,000. Finally, Godsey & Gibb Inc. increased its position 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 acquiring an additional 90 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

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 transaction 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 $1,998,741.74. The trade was a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sabastian Niles sold 2,484 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total value of $608,108.04. Following the completion of the transaction, the insider now owns 828 shares in the company, valued at $202,702.68. This represents a 75.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 144,510 shares of company stock valued at $42,475,538. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Cfra set a $343.00 target price on Salesforce in a research report on Thursday, October 17th. JPMorgan Chase & Co. upped their price target on Salesforce from $310.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Bank of America raised their price objective on Salesforce from $325.00 to $390.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Jefferies Financial Group upped their target price on shares of Salesforce from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $341.89.

Salesforce Price Performance

Salesforce stock opened at $330.01 on Thursday. The firm has a market capitalization of $315.49 billion, a P/E ratio of 57.39, a PEG ratio of 3.07 and a beta of 1.29. Salesforce, Inc. has a one year low of $212.00 and a one year high of $348.86. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The business has a fifty day moving average price of $299.57 and a 200-day moving average price of $269.87.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter last year, the company earned $1.63 EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. Salesforce’s dividend payout ratio (DPR) is currently 27.83%.

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.