Orion Capital Management LLC Buys 40 Shares of Salesforce, Inc. (NYSE:CRM)

Orion Capital Management LLC raised its stake in Salesforce, Inc. (NYSE:CRM) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,894 shares of the CRM provider’s stock after buying an additional 40 shares during the quarter. Orion Capital Management LLC’s holdings in Salesforce were worth $1,340,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce in the third quarter worth $27,000. Clear Investment Research LLC raised its position in Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares in the last quarter. Stephens Consulting LLC raised its position in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 125 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Salesforce during the second quarter worth $33,000. Finally, Godsey & Gibb Inc. raised its position in Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 90 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Down 2.9 %

CRM opened at $351.49 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company’s 50-day moving average is $311.53 and its 200 day moving average is $273.32. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The firm has a market capitalization of $336.38 billion, a P/E ratio of 57.81, a PEG ratio of 3.27 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the previous year, the business earned $1.62 earnings per share. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. Research analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Wednesday, December 18th. Salesforce’s payout ratio is currently 26.32%.

Insider Activity at Salesforce

In other news, COO Brian Millham sold 60,522 shares of Salesforce stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Miguel Milano sold 719 shares of Salesforce stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the transaction, the insider now owns 4,659 shares of the company’s stock, valued at $1,597,151.79. The trade was a 13.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 140,982 shares of company stock valued at $41,591,457 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Canaccord Genuity Group upped their price target on shares of Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. DA Davidson upped their price objective on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Cfra set a $343.00 price objective on shares of Salesforce in a report on Thursday, October 17th. Finally, JMP Securities restated a “market outperform” rating and issued a $450.00 price target on shares of Salesforce in a research note on Tuesday, December 3rd. Eight analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $372.86.

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.