Infrastructure Capital Advisors LLC Buys Shares of 100 Salesforce, Inc. (NYSE:CRM)

Infrastructure Capital Advisors LLC bought a new stake in Salesforce, Inc. (NYSE:CRM) during the 3rd quarter, Holdings Channel reports. The fund bought 100 shares of the CRM provider’s stock, valued at approximately $27,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC grew its holdings in shares of Salesforce by 13.6% during the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after buying an additional 6,938 shares in the last quarter. Aljian Capital Management LLC grew its stake in Salesforce by 16.1% in the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after purchasing an additional 1,834 shares in the last quarter. AIA Group Ltd grew its stake in Salesforce by 8.9% in the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after purchasing an additional 1,962 shares in the last quarter. Harvest Portfolios Group Inc. grew its stake in Salesforce by 13.6% in the third quarter. Harvest Portfolios Group Inc. now owns 89,098 shares of the CRM provider’s stock valued at $24,387,000 after purchasing an additional 10,656 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. bought a new position in Salesforce in the third quarter valued at approximately $3,672,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Down 3.8 %

NYSE CRM opened at $330.01 on Friday. The stock’s 50-day simple moving average is $300.85 and its two-hundred day simple moving average is $270.29. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $348.86. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $315.49 billion, a price-to-earnings ratio of 57.39, a PEG ratio of 2.99 and a beta of 1.29.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the firm earned $1.63 earnings per share. Research analysts forecast that Salesforce, Inc. will post 7.54 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. Salesforce’s payout ratio is presently 27.83%.

Insider Buying and Selling at Salesforce

In other news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at $1,998,741.74. The trade was a 5.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Brian Millham sold 60,522 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 144,510 shares of company stock valued at $42,475,538. 3.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CRM. Morgan Stanley lifted their target price on Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Northland Securities raised Salesforce from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $270.00 to $400.00 in a report on Wednesday, October 2nd. Bank of America lifted their price objective on Salesforce from $325.00 to $390.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Raymond James boosted 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. Eight investment 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $341.89.

Salesforce 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.