Gordian Capital Singapore Pte Ltd Grows Stake in Salesforce, Inc. (NYSE:CRM)

Gordian Capital Singapore Pte Ltd grew its holdings in Salesforce, Inc. (NYSE:CRM) by 28.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,344 shares of the CRM provider’s stock after acquiring an additional 300 shares during the period. Gordian Capital Singapore Pte Ltd’s holdings in Salesforce were worth $368,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. State Street Corp lifted its holdings in Salesforce by 1.8% in the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after buying an additional 864,193 shares during the period. Fisher Asset Management LLC raised its position in shares of Salesforce by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock worth $3,360,215,000 after acquiring an additional 314,530 shares in the last quarter. Legal & General Group Plc raised its position in shares of Salesforce by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after acquiring an additional 176,641 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Salesforce by 1.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock worth $1,632,599,000 after acquiring an additional 57,825 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Salesforce by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider’s stock worth $1,618,407,000 after acquiring an additional 96,381 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other news, insider Miguel Milano sold 719 shares of Salesforce stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $342.81, for a total value of $246,480.39. Following the sale, the insider now directly owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. The trade was a 13.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The stock was 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 in the company, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 140,982 shares of company stock valued at $41,591,457 over the last ninety days. 3.20% of the stock is currently owned by company insiders.

Salesforce Price Performance

NYSE CRM opened at $361.99 on Monday. The company has a market capitalization of $346.42 billion, a PE ratio of 59.54, a price-to-earnings-growth ratio of 3.27 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The business’s fifty day moving average is $309.97 and its 200 day moving average is $272.80. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00.

Salesforce (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.62 earnings per share. Sell-side analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.44%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Roth Mkm reissued a “buy” rating and issued a $335.00 target price on shares of Salesforce in a research report on Thursday, August 29th. Sanford C. Bernstein increased their target price on Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Northland Capmk raised Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Phillip Securities reissued an “accumulate” rating and issued a $305.00 target price on shares of Salesforce in a research report on Friday, August 30th. Finally, Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Eight investment analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $372.86.

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.