Sawyer & Company Inc Purchases 348 Shares of Salesforce, Inc. (NYSE:CRM)

Sawyer & Company Inc lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,163 shares of the CRM provider’s stock after acquiring an additional 348 shares during the quarter. Salesforce makes up approximately 1.9% of Sawyer & Company Inc’s holdings, making the stock its 13th biggest position. Sawyer & Company Inc’s holdings in Salesforce were worth $5,245,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Ruedi Wealth Management Inc. raised its holdings 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 in the last quarter. Piscataqua Savings Bank grew its position in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. Clear Investment Research LLC grew its position in Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 98 shares during the last quarter. Red Tortoise LLC bought a new position in Salesforce in the 1st quarter valued at $33,000. Finally, Stephens Consulting LLC grew its position in Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 125 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CRM has been the topic of a number of recent research reports. JMP Securities reaffirmed a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a research report on Wednesday, August 28th. Canaccord Genuity Group raised their price objective on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Northland Securities upgraded Salesforce from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $270.00 to $400.00 in a research report on Wednesday, October 2nd. Evercore ISI reissued an “outperform” rating and issued a $300.00 price objective on shares of Salesforce in a report on Monday, August 26th. Finally, Oppenheimer lifted their price target on Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $310.74.

Insiders Place Their Bets

In other Salesforce news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $288.42, for a total value of $1,211,364.00. Following the completion of the sale, the insider now directly owns 118,514 shares in the company, valued at $34,181,807.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Parker Harris sold 4,200 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $288.42, for a total transaction of $1,211,364.00. Following the completion of the sale, the insider now owns 118,514 shares in the company, valued at approximately $34,181,807.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R David Schmaier sold 1,155 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $295,425.90. Following the sale, the insider now owns 20,556 shares of the company’s stock, valued at $5,257,813.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 80,612 shares of company stock worth $21,283,087 over the last ninety days. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Down 0.7 %

Shares of NYSE CRM traded down $2.07 during midday trading on Friday, reaching $288.10. 3,597,035 shares of the company’s stock were exchanged, compared to its average volume of 6,491,262. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The stock has a market capitalization of $275.42 billion, a PE ratio of 50.10, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. 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 business’s fifty day moving average price is $261.93 and its two-hundred day moving average price is $263.88.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The business 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 company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the firm earned $1.63 earnings per share. Analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.56%. Salesforce’s dividend payout ratio (DPR) is 27.83%.

Salesforce Company 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.