Haverford Trust Co Buys 63,838 Shares of Salesforce, Inc. (NYSE:CRM)

Haverford Trust Co grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1,554.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 67,944 shares of the CRM provider’s stock after acquiring an additional 63,838 shares during the period. Haverford Trust Co’s holdings in Salesforce were worth $18,597,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Salesforce by 1.2% during the first quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock valued at $25,490,446,000 after acquiring an additional 1,008,841 shares during the last quarter. Capital Research Global Investors grew its position in Salesforce by 26.9% during the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after acquiring an additional 3,044,611 shares during the last quarter. Capital International Investors grew its position in Salesforce by 3.0% during the first quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock valued at $4,251,592,000 after acquiring an additional 407,834 shares during the last quarter. Legal & General Group Plc grew its position in Salesforce by 2.2% during the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock valued at $2,141,562,000 after acquiring an additional 176,641 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Salesforce by 48.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock valued at $1,518,658,000 after purchasing an additional 1,922,674 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Salesforce news, insider Miguel Milano sold 2,934 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $262.95, for a total transaction of $771,495.30. Following the transaction, the insider now owns 3,716 shares of the company’s stock, valued at approximately $977,122.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total value of $1,104,474.00. Following the sale, the insider now owns 117,581 shares in the company, valued at approximately $30,920,275.57. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Miguel Milano sold 2,934 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $262.95, for a total value of $771,495.30. Following the transaction, the insider now directly owns 3,716 shares of the company’s stock, valued at $977,122.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 144,373 shares of company stock valued at $41,250,680. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Raymond James increased their price objective on Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 29th. TD Cowen raised their price target on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Piper Sandler downgraded Salesforce from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. BMO Capital Markets raised their price target on Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, Northland Securities upgraded Salesforce from a “market perform” rating to an “outperform” rating and raised their price target for the company from $270.00 to $400.00 in a report on Wednesday, October 2nd. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $316.37.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $341.20 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The business’s 50 day moving average price is $279.53 and its 200-day moving average price is $264.83. The firm has a market capitalization of $326.19 billion, a PE ratio of 59.34, a P/E/G ratio of 3.09 and a beta of 1.29. Salesforce, Inc. has a 1 year low of $211.76 and a 1 year high of $348.86.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion for 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 business’s revenue 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. As a group, equities research analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders 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 0.47%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is currently 27.83%.

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.