Salesforce, Inc. (NYSE:CRM) Shares Bought by OLD National Bancorp IN

OLD National Bancorp IN lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 80,591 shares of the CRM provider’s stock after buying an additional 401 shares during the period. Salesforce makes up approximately 0.6% of OLD National Bancorp IN’s holdings, making the stock its 27th largest position. OLD National Bancorp IN’s holdings in Salesforce were worth $26,944,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Affirmative Financial Network lifted its holdings in Salesforce by 4.8% in the fourth quarter. First Affirmative Financial Network now owns 2,933 shares of the CRM provider’s stock valued at $980,000 after acquiring an additional 134 shares during the period. Abel Hall LLC boosted its holdings in Salesforce by 7.4% during the fourth quarter. Abel Hall LLC now owns 1,114 shares of the CRM provider’s stock worth $373,000 after buying an additional 77 shares in the last quarter. Synergy Asset Management LLC acquired a new position in Salesforce during the fourth quarter worth about $361,000. Strategic Planning Group LLC lifted its position in shares of Salesforce by 0.9% during the 4th quarter. Strategic Planning Group LLC now owns 16,019 shares of the CRM provider’s stock valued at $5,356,000 after acquiring an additional 142 shares during the period. Finally, Highland Capital Management LLC purchased a new stake in shares of Salesforce during the 4th quarter worth approximately $4,321,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Northland Securities reissued an “outperform” rating and issued a $440.00 price objective (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Cfra set a $343.00 target price on shares of Salesforce in a research report on Thursday, October 17th. Royal Bank of Canada increased their price target on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Stifel Nicolaus lifted their price objective on Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce Stock Performance

Shares of NYSE CRM opened at $354.14 on Thursday. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a market cap of $338.91 billion, a PE ratio of 58.25, a P/E/G ratio of 3.01 and a beta of 1.30. The stock has a 50 day simple moving average of $337.96 and a 200-day simple moving average of $296.02. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.62 EPS. On average, equities research analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

Insider Activity

In related news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total value of $2,133,803.00. Following the sale, the chief financial officer now directly owns 53,861 shares in the company, valued at $18,474,323. The trade was a 10.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Parker Harris sold 3,970 shares of Salesforce stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the completion of the transaction, the insider now owns 119,402 shares in the company, valued at approximately $35,431,349.48. This trade represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,109,169 shares of company stock worth $383,432,020 over the last three months. Corporate insiders own 3.20% of the company’s stock.

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.