Trust Co. of Toledo NA OH Raises Stake in Salesforce, Inc. (NYSE:CRM)

Trust Co. of Toledo NA OH lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 2.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 14,942 shares of the CRM provider’s stock after buying an additional 370 shares during the period. Trust Co. of Toledo NA OH’s holdings in Salesforce were worth $4,996,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CRM. State Street Corp lifted its stake in shares of Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after purchasing an additional 864,193 shares during the period. Geode Capital Management LLC lifted its position in Salesforce by 1.3% during the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after buying an additional 257,501 shares during the period. Fisher Asset Management LLC boosted its stake in Salesforce by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock worth $3,360,215,000 after buying an additional 314,530 shares during the last quarter. Legal & General Group Plc grew its holdings in Salesforce by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock valued at $2,141,562,000 after buying an additional 176,641 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Salesforce by 1.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after acquiring an additional 57,825 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CRM. Loop Capital raised their target price on shares of Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Northland Capmk raised shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus increased their target price on Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Northland Securities reissued an “outperform” rating and set a $440.00 price target (up previously from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, Wedbush restated an “outperform” rating and issued a $425.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $376.05.

Salesforce Stock Performance

Shares of CRM stock traded up $0.07 during trading hours on Monday, reaching $317.92. The stock had a trading volume of 1,057,113 shares, compared to its average volume of 4,370,107. The firm has a market capitalization of $304.25 billion, a PE ratio of 52.29, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. The firm has a 50-day simple moving average of $335.82 and a 200-day simple moving average of $289.73. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $9.35 billion. During the same quarter in the previous year, the business posted $1.62 EPS. Salesforce’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was 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 directly owns 7,006 shares in the company, valued at $1,998,741.74. This represents a 5.57 % 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, Director G Mason Morfit sold 722,300 shares of Salesforce stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the transaction, the director now owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. This trade represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,181,817 shares of company stock worth $404,760,429 over the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Salesforce 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.