Gryphon Financial Partners LLC Increases Holdings in Salesforce, Inc. (NYSE:CRM)

Gryphon Financial Partners LLC lifted its position in Salesforce, Inc. (NYSE:CRM) by 10.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,484 shares of the CRM provider’s stock after purchasing an additional 323 shares during the period. Gryphon Financial Partners LLC’s holdings in Salesforce were worth $896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Ruedi Wealth Management Inc. boosted its stake in shares of Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 56 shares during the last quarter. Piscataqua Savings Bank lifted its position in Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. Red Tortoise LLC bought a new stake in Salesforce during the first quarter valued at about $33,000. Stephens Consulting LLC increased its position in Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after buying an additional 125 shares in the last quarter. Finally, Creekmur Asset Management LLC bought a new position in shares of Salesforce in the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 897 shares of the business’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 value of $229,434.66. Following the completion of the transaction, the chief financial officer now owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the transaction, the chief accounting officer now owns 6,431 shares in the company, valued at approximately $1,644,921.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $229,434.66. Following the completion of the transaction, the chief financial officer now owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,892 shares of company stock valued at $15,269,897. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the subject of several analyst reports. Mizuho reduced their target price on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Citigroup lifted their target price on shares of Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. UBS Group increased their price target on Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Raymond James boosted their price objective on Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Phillip Securities reiterated an “accumulate” rating and set a $305.00 target price on shares of Salesforce in a research report on Friday, August 30th. Eight analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $304.41.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $247.00 on Tuesday. The firm’s 50 day simple moving average is $254.31 and its 200-day simple moving average is $269.24. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The firm has a market cap of $239.34 billion, a PE ratio of 44.20, a price-to-earnings-growth ratio of 2.21 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 EPS for the quarter, topping 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 company had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period last year, the business posted $1.63 EPS. Salesforce’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, equities analysts predict that Salesforce, Inc. will post 7.54 EPS for the current 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 $0.40 dividend. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.65%. Salesforce’s dividend payout ratio is currently 28.78%.

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.