Amalgamated Bank Has $52.56 Million Stake in Salesforce, Inc. (NYSE:CRM)

Amalgamated Bank trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 204,436 shares of the CRM provider’s stock after selling 1,963 shares during the period. Salesforce comprises 0.4% of Amalgamated Bank’s holdings, making the stock its 29th largest position. Amalgamated Bank’s holdings in Salesforce were worth $52,560,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Spartan Planning & Wealth Management increased its position in shares of Salesforce by 66.3% during the 4th quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock worth $412,000 after purchasing an additional 625 shares during the last quarter. Parnassus Investments LLC raised its position in Salesforce by 0.3% during the fourth quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock worth $1,566,055,000 after acquiring an additional 18,397 shares in the last quarter. TD Asset Management Inc lifted its stake in Salesforce by 32.6% in the fourth quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock valued at $207,756,000 after acquiring an additional 194,224 shares during the last quarter. Chicago Partners Investment Group LLC raised its holdings in shares of Salesforce by 1.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 7,160 shares of the CRM provider’s stock valued at $1,983,000 after purchasing an additional 95 shares during the period. Finally, M&G Plc acquired a new stake in Salesforce in the 1st quarter valued at about $2,178,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 0.6 %

Shares of CRM stock opened at $255.32 on Wednesday. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The stock’s fifty day simple moving average is $253.61 and its 200 day simple moving average is $267.11. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $247.41 billion, a P/E ratio of 45.92, a P/E/G ratio of 2.26 and a beta of 1.29.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. The company had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.63 earnings per share. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.63%. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the transaction, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $229,434.66. Following the completion of the transaction, the chief financial officer now owns 51,109 shares in the company, valued at approximately $13,072,660.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the sale, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at $1,644,921.18. The disclosure for this sale can be found here. Insiders have sold a total of 62,376 shares of company stock valued at $15,878,005 over the last 90 days. 3.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CRM. Sanford C. Bernstein raised their price objective on Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Barclays decreased their price objective on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Wells Fargo & Company lifted their target price on shares of Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, August 29th. TD Cowen increased their price target on shares of Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Finally, Stifel Nicolaus boosted their price objective on Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $305.55.

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.