Stephens Inc. AR Sells 9,337 Shares of Salesforce, Inc. (NYSE:CRM)

Stephens Inc. AR decreased its holdings in Salesforce, Inc. (NYSE:CRM) by 8.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 98,002 shares of the CRM provider’s stock after selling 9,337 shares during the quarter. Stephens Inc. AR’s holdings in Salesforce were worth $26,824,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Ruedi Wealth Management Inc. lifted its position in shares of Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after buying an additional 56 shares in the last quarter. Piscataqua Savings Bank lifted its position in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after buying an additional 96 shares in the last quarter. Clear Investment Research LLC lifted its position in shares of Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after buying an additional 98 shares in the last quarter. Stephens Consulting LLC lifted its position in shares of Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after buying an additional 125 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce during the 2nd quarter worth approximately $33,000. Institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 1,400 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $251.62, for a total value of $352,268.00. Following the completion of the sale, the insider now owns 117,581 shares of the company’s stock, valued at approximately $29,585,731.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Parker Harris sold 1,400 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $251.62, for a total value of $352,268.00. Following the completion of the sale, the insider now owns 117,581 shares of the company’s stock, valued at approximately $29,585,731.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were 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 of the company’s stock, valued at approximately $1,998,741.74. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 148,303 shares of company stock worth $42,024,385. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Price Performance

CRM opened at $291.41 on Friday. The stock has a 50-day moving average price of $272.41 and a 200-day moving average price of $263.22. Salesforce, Inc. has a 12-month low of $198.66 and a 12-month high of $318.71. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $278.59 billion, a P/E ratio of 50.68, a PEG ratio of 2.68 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its quarterly earnings data 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. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the prior year, the business earned $1.63 EPS. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is currently 27.83%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 29th. Canaccord Genuity Group raised their price target on shares of Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Sanford C. Bernstein raised their price target on shares of Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Needham & Company LLC restated a “buy” rating and set a $345.00 price target on shares of Salesforce in a research note on Friday, September 20th. Finally, UBS Group raised their price target on shares of Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $313.37.

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.