Nabity Jensen Investment Management Inc Invests $1.22 Million in Salesforce, Inc. (NYSE:CRM)

Nabity Jensen Investment Management Inc bought a new stake in Salesforce, Inc. (NYSE:CRM) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,440 shares of the CRM provider’s stock, valued at approximately $1,215,000. Salesforce accounts for about 0.9% of Nabity Jensen Investment Management Inc’s portfolio, making the stock its 26th biggest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce during the 3rd quarter worth about $27,000. Clear Investment Research LLC increased its stake in shares of Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 98 shares during the period. Godsey & Gibb Inc. raised its holdings in Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Salesforce in the second quarter worth approximately $33,000. Finally, Stephens Consulting LLC lifted its holdings in shares of Salesforce by 3,125.0% in 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 during the period. 80.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Sabastian Niles sold 2,484 shares of the business’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 owns 828 shares in the company, valued at approximately $202,702.68. The trade was a 75.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $257.04, for a total transaction of $1,079,568.00. Following the sale, the insider now owns 117,581 shares of the company’s stock, valued at $30,223,020.24. This trade represents a 3.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 140,982 shares of company stock valued at $41,591,457 over the last ninety days. 3.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CRM. DA Davidson raised their price objective on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Guggenheim restated a “neutral” rating on shares of Salesforce in a report on Wednesday, December 4th. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. BMO Capital Markets upped their price objective on shares of Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, BNP Paribas upgraded shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $372.86.

Salesforce Stock Performance

CRM opened at $361.99 on Monday. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The firm has a market capitalization of $346.42 billion, a P/E ratio of 59.54, a price-to-earnings-growth ratio of 3.27 and a beta of 1.30. The stock’s 50 day moving average price is $309.97 and its two-hundred day moving average price is $272.80. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same quarter in the prior year, the business earned $1.62 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.44%. Salesforce’s payout ratio is 26.32%.

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.