Mogy Joel R Investment Counsel Inc. Has $53.89 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Mogy Joel R Investment Counsel Inc. lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 0.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 196,896 shares of the CRM provider’s stock after acquiring an additional 1,074 shares during the period. Salesforce accounts for 3.3% of Mogy Joel R Investment Counsel Inc.’s portfolio, making the stock its 9th biggest holding. Mogy Joel R Investment Counsel Inc.’s holdings in Salesforce were worth $53,892,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Kapitalo Investimentos Ltda bought a new position in Salesforce in the 4th quarter valued at about $51,000. RFG Advisory LLC grew its position in Salesforce by 23.4% in the 1st quarter. RFG Advisory LLC now owns 6,438 shares of the CRM provider’s stock valued at $1,939,000 after buying an additional 1,220 shares in the last quarter. MJP Associates Inc. ADV bought a new position in Salesforce in the 1st quarter valued at about $288,000. &PARTNERS grew its position in Salesforce by 229.3% in the 1st quarter. &PARTNERS now owns 4,330 shares of the CRM provider’s stock valued at $1,304,000 after buying an additional 3,015 shares in the last quarter. Finally, Unique Wealth LLC grew its position in Salesforce by 135.4% in the 1st quarter. Unique Wealth LLC now owns 3,646 shares of the CRM provider’s stock valued at $1,098,000 after buying an additional 2,097 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In related news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the sale, the chief accounting officer now directly owns 6,431 shares in the company, valued at $1,644,921.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the transaction, the chief accounting officer now directly owns 6,431 shares in the company, valued at approximately $1,644,921.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total value of $1,217,454.00. Following the transaction, the insider now owns 118,514 shares of the company’s stock, valued at $34,353,653.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 80,612 shares of company stock worth $21,429,961 over the last three months. 3.20% of the stock is currently owned by company insiders.

Salesforce Trading Up 0.7 %

NYSE:CRM opened at $293.07 on Friday. The stock’s 50 day moving average price is $266.65 and its 200 day moving average price is $263.77. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71. The company has a market capitalization of $283.98 billion, a P/E ratio of 52.71, a P/E/G ratio of 2.61 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the prior year, the company posted $1.63 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. On average, research analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.55%. Salesforce’s payout ratio is 28.78%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CRM shares. Evercore ISI reiterated an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a research report on Monday, August 26th. Oppenheimer upped their price target on shares of Salesforce from $280.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Erste Group Bank reissued a “hold” rating on shares of Salesforce in a report on Wednesday, September 11th. Canaccord Genuity Group upped their price target on shares of Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Cfra set a $343.00 price target on shares of Salesforce in a report on Thursday. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $311.66.

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.