Salesforce, Inc. (NYSE:CRM) Shares Bought by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. grew its holdings in Salesforce, Inc. (NYSE:CRM) by 3.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 43,332 shares of the CRM provider’s stock after acquiring an additional 1,515 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Salesforce were worth $11,860,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Saturna Capital Corp boosted its stake in Salesforce by 3.1% in the third quarter. Saturna Capital Corp now owns 6,747 shares of the CRM provider’s stock valued at $1,847,000 after acquiring an additional 200 shares in the last quarter. Pinnacle Financial Partners Inc boosted its holdings in shares of Salesforce by 0.4% in the third quarter. Pinnacle Financial Partners Inc now owns 155,408 shares of the CRM provider’s stock valued at $42,537,000 after acquiring an additional 565 shares during the period. Simmons Bank raised its position in Salesforce by 2.8% in the 3rd quarter. Simmons Bank now owns 33,872 shares of the CRM provider’s stock valued at $9,271,000 after purchasing an additional 907 shares during the last quarter. Souders Financial Advisors boosted its stake in Salesforce by 9.2% during the 3rd quarter. Souders Financial Advisors now owns 4,386 shares of the CRM provider’s stock worth $1,201,000 after purchasing an additional 368 shares during the period. Finally, Haverford Trust Co grew its position in Salesforce by 1,554.7% during the 3rd quarter. Haverford Trust Co now owns 67,944 shares of the CRM provider’s stock worth $18,597,000 after purchasing an additional 63,838 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 0.4 %

Shares of CRM stock traded up $1.39 during trading hours on Wednesday, hitting $342.54. 466,677 shares of the company were exchanged, compared to its average volume of 6,281,000. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $327.47 billion, a price-to-earnings ratio of 59.57, a P/E/G ratio of 3.09 and a beta of 1.29. Salesforce, Inc. has a one year low of $212.00 and a one year high of $348.86. The business’s 50-day simple moving average is $281.40 and its two-hundred day simple moving average is $265.31.

Salesforce (NYSE:CRM) last posted its quarterly earnings results 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. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the prior year, the company posted $1.63 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. Sell-side analysts predict that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. Salesforce’s payout ratio is currently 27.83%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CRM. Oppenheimer reaffirmed an “outperform” rating and issued a $330.00 target price (up from $300.00) on shares of Salesforce in a report on Thursday, October 24th. Northland Securities raised Salesforce from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $270.00 to $400.00 in a research report on Wednesday, October 2nd. Phillip Securities reissued an “accumulate” rating and issued a $305.00 target price on shares of Salesforce in a report on Friday, August 30th. DA Davidson upped their price target on Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Finally, Erste Group Bank reiterated a “hold” rating on shares of Salesforce in a research report on Wednesday, September 11th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $316.37.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 3,970 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total value of $1,178,057.80. Following the sale, the insider now owns 119,402 shares in the company, valued at approximately $35,431,349.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $290.23, for a total value of $145,115.00. Following the completion of the transaction, the chief accounting officer now owns 6,506 shares in the company, valued at $1,888,236.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Parker Harris sold 3,970 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the sale, the insider now owns 119,402 shares in the company, valued at $35,431,349.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 144,373 shares of company stock worth $41,250,680. 3.20% of the stock is owned by insiders.

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.