Windward Capital Management Co. CA Sells 205 Shares of Salesforce, Inc. (NYSE:CRM)

Windward Capital Management Co. CA cut its position in shares of Salesforce, Inc. (NYSE:CRM) by 0.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 197,869 shares of the CRM provider’s stock after selling 205 shares during the quarter. Salesforce comprises about 4.1% of Windward Capital Management Co. CA’s holdings, making the stock its 4th largest position. Windward Capital Management Co. CA’s holdings in Salesforce were worth $54,159,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. AIA Group Ltd boosted its holdings in shares of Salesforce by 8.9% during the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after buying an additional 1,962 shares in the last quarter. XN LP boosted its stake in Salesforce by 24.2% during the second quarter. XN LP now owns 464,489 shares of the CRM provider’s stock worth $119,420,000 after acquiring an additional 90,616 shares in the last quarter. Atomi Financial Group Inc. boosted its stake in Salesforce by 27.5% during the third quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock worth $3,284,000 after acquiring an additional 2,589 shares in the last quarter. Harvest Portfolios Group Inc. increased its stake in Salesforce by 13.6% in the third quarter. Harvest Portfolios Group Inc. now owns 89,098 shares of the CRM provider’s stock valued at $24,387,000 after purchasing an additional 10,656 shares in the last quarter. Finally, M&G Plc acquired a new position in shares of Salesforce during the first quarter valued at about $2,178,000. Institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other Salesforce news, COO Brian Millham sold 60,522 shares of Salesforce stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Brian Millham sold 60,522 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,573 shares of company stock worth $42,319,874. 3.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Northland Securities upgraded Salesforce from a “market perform” rating to an “outperform” rating and raised their target price for the company from $270.00 to $400.00 in a research note on Wednesday, October 2nd. DA Davidson boosted their price objective on Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Canaccord Genuity Group increased their target price on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Citigroup boosted their price target on shares of Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Finally, TD Cowen raised their price objective on shares of Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $313.37.

Salesforce Price Performance

NYSE CRM opened at $321.87 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a market cap of $307.71 billion, a PE ratio of 55.98, a price-to-earnings-growth ratio of 2.70 and a beta of 1.29. Salesforce, Inc. has a 52 week low of $208.84 and a 52 week high of $322.81. The firm’s 50-day simple moving average is $277.76 and its two-hundred day simple moving average is $264.52.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company 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 company posted $1.63 EPS. Salesforce’s revenue was up 8.5% compared to the same quarter last year. Research analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.50%. 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.