Salesforce, Inc. (NYSE:CRM) Shares Acquired by Ascent Group LLC

Ascent Group LLC increased its stake in Salesforce, Inc. (NYSE:CRM) by 15.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,556 shares of the CRM provider’s stock after acquiring an additional 2,581 shares during the period. Ascent Group LLC’s holdings in Salesforce were worth $5,028,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Ruedi Wealth Management Inc. boosted its position in shares of Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 56 shares during the last quarter. Piscataqua Savings Bank boosted its position in shares of Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 96 shares during the last quarter. Red Tortoise LLC acquired a new stake in shares of Salesforce in the first quarter worth approximately $33,000. Clear Investment Research LLC boosted its position in shares of Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares during the last quarter. Finally, Stephens Consulting LLC lifted its position in Salesforce by 3,125.0% during 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. 80.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. BMO Capital Markets lifted their price target on shares of Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Bank of America reaffirmed a “buy” rating and set a $325.00 price target on shares of Salesforce in a research report on Friday, September 6th. Raymond James lifted their price target on shares of Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $300.00 price target on shares of Salesforce in a research report on Thursday, September 19th. Finally, Oppenheimer lifted their price target on shares of Salesforce from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $308.03.

Insider Activity

In other news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $256.24, for a total transaction of $1,076,208.00. Following the completion of the transaction, the insider now owns 116,693 shares of the company’s stock, valued at $29,901,414.32. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $229,434.66. Following the completion of the transaction, the chief financial officer now owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $256.24, for a total transaction of $1,076,208.00. Following the transaction, the insider now directly owns 116,693 shares of the company’s stock, valued at approximately $29,901,414.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,185 shares of company stock valued at $18,708,571. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Up 0.3 %

CRM stock opened at $276.64 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The firm has a fifty day moving average price of $256.26 and a two-hundred day moving average price of $265.30. The firm has a market cap of $268.06 billion, a price-to-earnings ratio of 49.76, a PEG ratio of 2.39 and a beta of 1.29.

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

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 28.78%.

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.