Copeland Capital Management LLC Raises Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Copeland Capital Management LLC boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 79.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,647 shares of the CRM provider’s stock after purchasing an additional 28,532 shares during the period. Copeland Capital Management LLC’s holdings in Salesforce were worth $17,695,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Ruedi Wealth Management Inc. increased its holdings in Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after buying an additional 56 shares during the last quarter. Piscataqua Savings Bank raised its holdings in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares during the period. Clear Investment Research LLC grew its holdings in Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares during the period. Red Tortoise LLC purchased a new stake in Salesforce in the first quarter worth $33,000. Finally, Stephens Consulting LLC raised its stake in shares of Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after buying an additional 125 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other Salesforce news, insider Sabastian Niles sold 2,484 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total transaction of $608,108.04. Following the sale, the insider now directly owns 828 shares in the company, valued at $202,702.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Sabastian Niles sold 2,484 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total transaction of $608,108.04. Following the sale, the insider now owns 828 shares in the company, valued at approximately $202,702.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total transaction of $1,217,454.00. Following the transaction, the insider now directly owns 118,514 shares of the company’s stock, valued at $34,353,653.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,110 shares of company stock valued at $20,292,760 over the last 90 days. 3.20% of the stock is owned by corporate insiders.

Salesforce Trading Down 0.5 %

Salesforce stock opened at $291.33 on Tuesday. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The business’s fifty day simple moving average is $267.44 and its two-hundred day simple moving average is $263.18. The company has a market capitalization of $282.30 billion, a price-to-earnings ratio of 52.40, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its 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 analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.63 EPS. As a group, equities analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared 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. This represents a $1.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is presently 28.78%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Truist Financial reiterated a “buy” rating and set a $315.00 price target (up previously from $300.00) on shares of Salesforce in a research note on Thursday, September 19th. JPMorgan Chase & Co. upped their price target on shares of Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Phillip Securities reiterated an “accumulate” rating and issued a $305.00 price objective on shares of Salesforce in a research note on Friday, August 30th. TD Cowen increased their target price on Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. Finally, Sanford C. Bernstein lifted their price target on Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $311.66.

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.