Salesforce, Inc. (NYSE:CRM) Shares Bought by Zions Bancorporation N.A.

Zions Bancorporation N.A. boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 10.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,866 shares of the CRM provider’s stock after buying an additional 1,663 shares during the period. Zions Bancorporation N.A.’s holdings in Salesforce were worth $4,890,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. HBK Sorce Advisory LLC lifted its stake in shares of Salesforce by 41.3% in the 1st quarter. HBK Sorce Advisory LLC now owns 5,251 shares of the CRM provider’s stock valued at $1,582,000 after purchasing an additional 1,536 shares during the last quarter. Great Lakes Retirement Inc. lifted its stake in shares of Salesforce by 1.4% in the 1st quarter. Great Lakes Retirement Inc. now owns 8,340 shares of the CRM provider’s stock valued at $2,512,000 after purchasing an additional 114 shares during the last quarter. RFP Financial Group LLC lifted its stake in shares of Salesforce by 18.7% in the 1st quarter. RFP Financial Group LLC now owns 387 shares of the CRM provider’s stock valued at $117,000 after purchasing an additional 61 shares during the last quarter. Forum Financial Management LP lifted its stake in shares of Salesforce by 1.7% in the 1st quarter. Forum Financial Management LP now owns 8,221 shares of the CRM provider’s stock valued at $2,476,000 after purchasing an additional 135 shares during the last quarter. Finally, Nwam LLC lifted its stake in shares of Salesforce by 895.1% in the 1st quarter. Nwam LLC now owns 20,011 shares of the CRM provider’s stock valued at $5,548,000 after purchasing an additional 18,000 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other news, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total transaction of $1,104,474.00. Following the completion of the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $30,920,275.57. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CAO Sundeep G. Reddy sold 413 shares of the firm’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 transaction, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $262.97, for a total value of $1,104,474.00. Following the completion of the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at $30,920,275.57. 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 144,373 shares of company stock valued at $41,250,680 in the last three months. 3.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CRM has been the topic of several recent analyst reports. BNP Paribas raised Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Oppenheimer reiterated an “outperform” rating and issued a $330.00 price objective (up previously from $300.00) on shares of Salesforce in a report on Thursday, October 24th. Evercore ISI reiterated an “outperform” rating and issued a $300.00 price objective on shares of Salesforce in a report on Monday, August 26th. JMP Securities reiterated a “market outperform” rating and issued a $342.00 price objective on shares of Salesforce in a report on Wednesday, August 28th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $300.00 price objective on shares of Salesforce in a report on Thursday, September 19th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $318.23.

Salesforce Stock Up 0.2 %

Shares of NYSE CRM opened at $341.72 on Thursday. The stock has a market cap of $326.68 billion, a PE ratio of 59.43, a price-to-earnings-growth ratio of 3.09 and a beta of 1.29. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $348.86. The business has a 50-day moving average price of $283.28 and a 200 day moving average price of $265.84.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations 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 prior year, the firm earned $1.63 EPS. Equities research analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced 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 was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.47%. Salesforce’s dividend payout ratio (DPR) is presently 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.