Penserra Capital Management LLC Buys 105 Shares of Salesforce, Inc. (NYSE:CRM)

Penserra Capital Management LLC raised its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,825 shares of the CRM provider’s stock after purchasing an additional 105 shares during the period. Penserra Capital Management LLC’s holdings in Salesforce were worth $2,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Canopy Partners LLC lifted its position in Salesforce by 1.3% in the third quarter. Canopy Partners LLC now owns 6,283 shares of the CRM provider’s stock worth $1,720,000 after buying an additional 78 shares during the last quarter. Kingsview Wealth Management LLC raised its stake in shares of Salesforce by 13.4% in the third quarter. Kingsview Wealth Management LLC now owns 131,225 shares of the CRM provider’s stock valued at $35,918,000 after acquiring an additional 15,517 shares during the period. Cerity Partners LLC lifted its holdings in shares of Salesforce by 20.4% in the 3rd quarter. Cerity Partners LLC now owns 553,626 shares of the CRM provider’s stock worth $151,549,000 after acquiring an additional 93,802 shares during the last quarter. Great Valley Advisor Group Inc. boosted its stake in shares of Salesforce by 16.5% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 67,921 shares of the CRM provider’s stock worth $18,590,000 after purchasing an additional 9,644 shares during the period. Finally, Leelyn Smith LLC grew its holdings in Salesforce by 3.7% during the 3rd quarter. Leelyn Smith LLC now owns 6,923 shares of the CRM provider’s stock valued at $1,895,000 after purchasing an additional 246 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Performance

NYSE CRM opened at $339.12 on Tuesday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $348.86. 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 firm has a market capitalization of $324.20 billion, a P/E ratio of 58.98, a PEG ratio of 3.10 and a beta of 1.29. The stock has a 50-day simple moving average of $296.26 and a two-hundred day simple moving average of $268.98.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Salesforce’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.63 earnings per share. On average, equities analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued 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 0.47%. Salesforce’s payout ratio is 27.83%.

Insiders Place Their Bets

In related news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. The trade was a 5.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Brian Millham sold 60,522 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total transaction of $18,156,600.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 144,510 shares of company stock worth $42,475,538. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CRM. Needham & Company LLC restated a “buy” rating and set a $345.00 target price on shares of Salesforce in a research report on Friday, September 20th. Sanford C. Bernstein boosted their price objective on Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. BMO Capital Markets increased their target price on Salesforce from $305.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Cfra set a $343.00 target price on shares of Salesforce in a research note on Thursday, October 17th. Finally, Raymond James raised their price target on shares of Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $339.66.

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.