Mogy Joel R Investment Counsel Inc. Has $65.85 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Mogy Joel R Investment Counsel Inc. grew its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 196,951 shares of the CRM provider’s stock after buying an additional 55 shares during the period. Salesforce accounts for about 3.9% of Mogy Joel R Investment Counsel Inc.’s investment portfolio, making the stock its 8th biggest holding. Mogy Joel R Investment Counsel Inc.’s holdings in Salesforce were worth $65,847,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CRM. Aviance Capital Partners LLC lifted its stake in shares of Salesforce by 0.5% in the third quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock valued at $1,860,000 after buying an additional 33 shares during the period. EWA LLC raised its holdings in Salesforce by 1.7% in the 3rd quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock valued at $548,000 after acquiring an additional 33 shares in the last quarter. Umpqua Bank lifted its position in shares of Salesforce by 0.4% in the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after acquiring an additional 34 shares during the period. Principal Street Partners LLC grew its holdings in shares of Salesforce by 1.0% during the 3rd quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock worth $891,000 after purchasing an additional 34 shares in the last quarter. Finally, Nvwm LLC increased its position in shares of Salesforce by 1.4% during the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock valued at $667,000 after purchasing an additional 36 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Robert W. Baird lifted their price target on shares of Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Morgan Stanley lifted their target price on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and increased their price target for the stock from $380.00 to $400.00 in a research report on Friday. Oppenheimer reaffirmed an “outperform” rating and set a $415.00 price objective (up from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group increased their target price on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

Insider Buying and Selling

In other news, CFO Amy E. Weaver sold 897 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $255,905.13. Following the completion of the sale, the chief financial officer now owns 52,930 shares of the company’s stock, valued at $15,100,399.70. This represents a 1.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were 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 directly owns 7,006 shares in the company, valued at $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,173,477 shares of company stock valued at $402,596,964. 3.20% of the stock is owned by company insiders.

Salesforce Stock Up 1.5 %

Shares of Salesforce stock opened at $324.77 on Tuesday. The business has a fifty day simple moving average of $336.97 and a 200 day simple moving average of $292.47. The stock has a market cap of $310.81 billion, a PE ratio of 53.42, a price-to-earnings-growth ratio of 2.93 and a beta of 1.30. 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, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

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

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 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.