Salesforce, Inc. (NYSE:CRM) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. reduced its position in Salesforce, Inc. (NYSE:CRM) by 7.2% in the 4th quarter, Holdings Channel reports. The firm owned 23,040 shares of the CRM provider’s stock after selling 1,800 shares during the period. Everence Capital Management Inc.’s holdings in Salesforce were worth $7,703,000 as of its most recent filing with the SEC.

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

Insider Transactions at Salesforce

In other news, Director G Mason Morfit sold 722,300 shares of Salesforce stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the sale, the director now owns 3,192,009 shares in the company, valued at $1,104,786,234.99. This trade represents a 18.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $255,905.13. Following the sale, the chief financial officer now directly owns 52,930 shares of the company’s stock, valued at approximately $15,100,399.70. The trade was a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,186,017 shares of company stock valued at $405,971,793 over the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a research report on Friday, December 13th. Jefferies Financial Group upped their target price on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Needham & Company LLC reiterated a “buy” rating and set a $375.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Morgan Stanley upped their price target on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Bank of America lifted their price objective on Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Eight equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average target price of $378.86.

Salesforce Trading Up 0.4 %

Shares of CRM stock traded up $1.32 on Friday, reaching $331.98. 1,103,080 shares of the stock were exchanged, compared to its average volume of 2,908,929. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The stock has a market cap of $317.70 billion, a P/E ratio of 54.60, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $331.96 and a two-hundred day moving average of $285.33.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last 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 year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.48%. Salesforce’s dividend payout ratio is currently 26.32%.

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.