Salesforce, Inc. (NYSE:CRM) Shares Purchased by Blue Trust Inc.

Blue Trust Inc. raised its stake in Salesforce, Inc. (NYSE:CRM) by 35.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,610 shares of the CRM provider’s stock after acquiring an additional 3,065 shares during the quarter. Blue Trust Inc.’s holdings in Salesforce were worth $2,985,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CRM. Meridian Financial Partners LLC increased its holdings in shares of Salesforce by 1.5% during the 3rd quarter. Meridian Financial Partners LLC now owns 4,395 shares of the CRM provider’s stock valued at $1,203,000 after purchasing an additional 64 shares in the last quarter. Mogy Joel R Investment Counsel Inc. grew its position in Salesforce by 0.5% during the third quarter. Mogy Joel R Investment Counsel Inc. now owns 196,896 shares of the CRM provider’s stock valued at $53,892,000 after buying an additional 1,074 shares during the period. Riverview Trust Co increased its holdings in Salesforce by 15.5% in the third quarter. Riverview Trust Co now owns 769 shares of the CRM provider’s stock valued at $210,000 after buying an additional 103 shares in the last quarter. Moss Adams Wealth Advisors LLC raised its position in shares of Salesforce by 39.8% in the third quarter. Moss Adams Wealth Advisors LLC now owns 2,397 shares of the CRM provider’s stock worth $657,000 after acquiring an additional 683 shares during the period. Finally, Generate Investment Management Ltd boosted its stake in shares of Salesforce by 212.5% during the 3rd quarter. Generate Investment Management Ltd now owns 72,744 shares of the CRM provider’s stock worth $19,911,000 after acquiring an additional 49,466 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Price Performance

CRM stock opened at $293.07 on Friday. The business’s fifty day moving average price is $266.65 and its 200 day moving average price is $263.77. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The company has a market capitalization of $283.98 billion, a PE ratio of 52.71, a P/E/G ratio of 2.61 and a beta of 1.30. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the company earned $1.63 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. On average, sell-side analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 28.78%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CRM. Canaccord Genuity Group increased their price target on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Erste Group Bank reiterated a “hold” rating on shares of Salesforce in a research report on Wednesday, September 11th. Citigroup boosted their price target on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. FBN Securities raised shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Finally, Cfra set a $343.00 target price on shares of Salesforce in a research note on Thursday. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $311.66.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the transaction, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at $1,644,921.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Maynard G. Webb, Jr. sold 9,170 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total value of $2,533,854.40. Following the completion of the transaction, the director now directly owns 1,363 shares of the company’s stock, valued at $376,624.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the transaction, the chief accounting officer now owns 6,431 shares in the company, valued at $1,644,921.18. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 80,612 shares of company stock worth $21,429,961. 3.20% of the stock is currently owned by corporate insiders.

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.