Intact Investment Management Inc. Has $1.46 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Intact Investment Management Inc. trimmed its position in Salesforce, Inc. (NYSE:CRM) by 8.1% during the third quarter, HoldingsChannel.com reports. The fund owned 5,350 shares of the CRM provider’s stock after selling 470 shares during the period. Intact Investment Management Inc.’s holdings in Salesforce were worth $1,464,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Ruedi Wealth Management Inc. raised its position in shares of Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 56 shares during the period. Piscataqua Savings Bank raised its holdings in Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after buying an additional 96 shares during the period. Clear Investment Research LLC raised its holdings in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after buying an additional 98 shares during the period. Godsey & Gibb Inc. raised its holdings in Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce during the 2nd quarter worth approximately $33,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Salesforce

In other news, insider Sabastian Niles sold 2,484 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total transaction of $608,108.04. Following the transaction, the insider now directly owns 828 shares of the company’s stock, valued at $202,702.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sabastian Niles sold 2,484 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total value of $608,108.04. Following the sale, the insider now directly owns 828 shares of the company’s stock, valued at approximately $202,702.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 146,003 shares of company stock valued at $41,494,084 over the last ninety days. 3.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CRM shares. Piper Sandler cut shares of Salesforce from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. DA Davidson raised their price target on Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a 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 report on Thursday, September 19th. Erste Group Bank reaffirmed a “hold” rating on shares of Salesforce in a report on Wednesday, September 11th. Finally, Loop Capital reaffirmed a “hold” rating and set a $270.00 price target on shares of Salesforce in a report on Thursday, September 19th. Nine research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $313.37.

Salesforce Stock Performance

Shares of CRM stock opened at $298.01 on Tuesday. The business’s 50 day simple moving average is $273.68 and its 200 day simple moving average is $263.36. Salesforce, Inc. has a one year low of $204.69 and a one year high of $318.71. The stock has a market capitalization of $284.90 billion, a PE ratio of 51.83, a PEG ratio of 2.64 and a beta of 1.29. 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 (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $9.22 billion. During the same period in the prior year, the business posted $1.63 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. As a group, research analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

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.