Community Bank N.A. Boosts Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Community Bank N.A. boosted its position in Salesforce, Inc. (NYSE:CRM) by 9.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,394 shares of the CRM provider’s stock after buying an additional 469 shares during the quarter. Community Bank N.A.’s holdings in Salesforce were worth $1,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Prime Capital Investment Advisors LLC lifted its holdings in Salesforce by 13.6% during the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after purchasing an additional 6,938 shares during the last quarter. Aljian Capital Management LLC lifted its stake in shares of Salesforce by 16.1% during the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after buying an additional 1,834 shares in the last quarter. AIA Group Ltd boosted its holdings in Salesforce by 8.9% in 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 during the period. Transamerica Financial Advisors Inc. purchased a new position in Salesforce in the 3rd quarter valued at approximately $3,672,000. Finally, Harvest Portfolios Group Inc. raised its holdings in Salesforce by 13.6% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 89,098 shares of the CRM provider’s stock valued at $24,387,000 after acquiring an additional 10,656 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $329.99 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a market cap of $315.47 billion, a price-to-earnings ratio of 57.39, a price-to-earnings-growth ratio of 2.99 and a beta of 1.29. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $348.86. The company has a 50-day moving average price of $302.12 and a 200-day moving average price of $270.49.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.48%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is currently 27.83%.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares in the company, valued at $1,998,741.74. The trade was a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total transaction of $18,156,600.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 144,510 shares of company stock worth $42,475,538. 3.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. JMP Securities raised their price target on Salesforce from $342.00 to $450.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. DA Davidson raised their target price on Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Stifel Nicolaus upped their price target on Salesforce from $320.00 to $350.00 and gave the company a “buy” rating in a research report on Monday, October 28th. UBS Group raised their price objective on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, BMO Capital Markets upped their target price on shares of Salesforce from $305.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $343.89.

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.