Roffman Miller Associates Inc. PA Purchases 2,617 Shares of Salesforce, Inc. (NYSE:CRM)

Roffman Miller Associates Inc. PA grew its holdings in Salesforce, Inc. (NYSE:CRM) by 7.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,085 shares of the CRM provider’s stock after purchasing an additional 2,617 shares during the quarter. Roffman Miller Associates Inc. PA’s holdings in Salesforce were worth $10,424,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CRM. State Street Corp grew its holdings in Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after acquiring an additional 864,193 shares during the period. Fisher Asset Management LLC grew its stake in shares of Salesforce by 2.6% during the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock worth $3,360,215,000 after purchasing an additional 314,530 shares during the period. Legal & General Group Plc increased its holdings in Salesforce by 2.2% in the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock valued at $2,141,562,000 after purchasing an additional 176,641 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Salesforce by 1.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after buying an additional 57,825 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Salesforce by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider’s stock worth $1,618,407,000 after buying an additional 96,381 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Up 0.2 %

Shares of NYSE CRM opened at $361.99 on Monday. The company has a market cap of $346.06 billion, a price-to-earnings ratio of 59.54, a PEG ratio of 3.33 and a beta of 1.30. The company has a current ratio of 1.11, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average price of $309.97 and a two-hundred day moving average price of $272.80. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

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

Salesforce Dividend Announcement

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

Insider Transactions at Salesforce

In other news, insider Sabastian Niles sold 2,484 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total value of $608,108.04. Following the completion of the sale, the insider now directly owns 828 shares in the company, valued at $202,702.68. This trade represents a 75.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 140,982 shares of company stock worth $41,591,457 over the last ninety days. 3.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on CRM shares. Wells Fargo & Company lifted their price objective on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group increased their price objective on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Barclays raised their target price on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Citigroup boosted their price target on Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group boosted their price objective on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Eight equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $372.86.

Salesforce 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.