Oddo BHF Asset Management Sas Takes Position in Salesforce, Inc. (NYSE:CRM)

Oddo BHF Asset Management Sas purchased a new position in Salesforce, Inc. (NYSE:CRM) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 58,061 shares of the CRM provider’s stock, valued at approximately $15,894,000.

A number of other institutional investors have also added to or reduced their stakes in CRM. Aviance Capital Partners LLC grew its holdings in Salesforce by 0.5% in the third quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock worth $1,860,000 after purchasing an additional 33 shares during the period. EWA LLC grew its position in Salesforce by 1.7% during the 3rd quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock valued at $548,000 after purchasing an additional 33 shares during the last quarter. Umpqua Bank increased its stake in Salesforce by 0.4% during the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock valued at $2,110,000 after purchasing an additional 34 shares in the last quarter. Principal Street Partners LLC raised its holdings in Salesforce by 1.0% in the third quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock worth $891,000 after buying an additional 34 shares during the last quarter. Finally, Nvwm LLC lifted its stake in shares of Salesforce by 1.4% in the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock worth $667,000 after buying an additional 36 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 0.9 %

Salesforce stock opened at $358.19 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $342.79 billion, a PE ratio of 58.91, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. The stock has a 50-day moving average of $316.14 and a two-hundred day moving average of $275.00. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.62 earnings per share. On average, research analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Insider Buying and Selling

In related news, insider Miguel Milano sold 719 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $342.81, for a total value of $246,480.39. Following the transaction, the insider now owns 4,659 shares in the company, valued at approximately $1,597,151.79. This represents a 13.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $257.04, for a total transaction of $1,079,568.00. Following the sale, the insider now owns 117,581 shares of the company’s stock, valued at approximately $30,223,020.24. The trade was a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 138,498 shares of company stock worth $40,983,349 in the last 90 days. Insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Needham & Company LLC raised their price target on shares of Salesforce from $345.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Phillip Securities restated an “accumulate” rating and issued a $305.00 price target on shares of Salesforce in a research note on Friday, August 30th. Jefferies Financial Group upped their price target on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. The Goldman Sachs Group lifted their price objective on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Roth Mkm restated a “buy” rating and set a $335.00 target price on shares of Salesforce in a research note on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $377.24.

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.