Salesforce, Inc. (NYSE:CRM) Holdings Raised by Perigon Wealth Management LLC

Perigon Wealth Management LLC boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 0.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,537 shares of the CRM provider’s stock after buying an additional 123 shares during the period. Perigon Wealth Management LLC’s holdings in Salesforce were worth $15,212,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sachetta LLC boosted its stake in Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after purchasing an additional 32 shares during the period. Aviance Capital Partners LLC lifted its holdings 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 purchasing an additional 33 shares in the last quarter. EWA LLC boosted its position in shares of Salesforce by 1.7% in the third quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock worth $548,000 after buying an additional 33 shares during the period. Umpqua Bank grew its holdings in shares of Salesforce by 0.4% during the third quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock valued at $2,110,000 after buying an additional 34 shares in the last quarter. Finally, Principal Street Partners LLC raised its position in Salesforce by 1.0% during the third quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock valued at $891,000 after buying an additional 34 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other Salesforce news, insider Parker Harris sold 3,970 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the completion of the transaction, the insider now owns 119,402 shares in the company, valued at $35,431,349.48. This trade represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Brian Millham sold 708 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $235,254.24. Following the completion of the sale, the chief operating officer now owns 1,239 shares in the company, valued at approximately $411,694.92. This represents a 36.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,109,169 shares of company stock valued at $383,432,020. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Up 4.0 %

Shares of CRM stock opened at $347.26 on Tuesday. The firm has a market capitalization of $332.33 billion, a P/E ratio of 57.12, a price-to-earnings-growth ratio of 3.01 and a beta of 1.30. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The firm’s fifty day simple moving average is $336.73 and its 200 day simple moving average is $294.60. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the previous year, the firm posted $1.62 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.46%. Salesforce’s payout ratio is 26.32%.

Analysts Set New Price Targets

Several equities analysts have weighed in on CRM shares. BMO Capital Markets lifted their target price on Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Canaccord Genuity Group boosted their price objective on shares of Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Morgan Stanley upped their price objective on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Scotiabank lifted their target price on shares of Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company upped their price target 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

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.