Central Pacific Bank Trust Division Has $5.24 Million Stake in Salesforce, Inc. (NYSE:CRM)

Central Pacific Bank Trust Division increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 85.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,659 shares of the CRM provider’s stock after buying an additional 7,225 shares during the quarter. Salesforce accounts for about 0.7% of Central Pacific Bank Trust Division’s portfolio, making the stock its 20th biggest holding. Central Pacific Bank Trust Division’s holdings in Salesforce were worth $5,235,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CRM. Infrastructure Capital Advisors LLC bought a new position in Salesforce in the third quarter valued at approximately $27,000. Clear Investment Research LLC raised its stake in Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce during the 2nd quarter worth $33,000. Godsey & Gibb Inc. boosted its position in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 90 shares in the last quarter. Finally, Annapolis Financial Services LLC boosted its holdings in shares of Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after purchasing an additional 80 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on CRM shares. Cfra set a $343.00 target price on shares of Salesforce in a report on Thursday, October 17th. Northland Securities restated an “outperform” rating and issued a $440.00 target price (up previously from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. DA Davidson upped their price target on shares of Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. UBS Group boosted their price target on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Loop Capital boosted their target price on shares of Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Eight analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $378.86.

Insider Activity

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $255,905.13. Following the transaction, the chief financial officer now directly owns 52,930 shares in the company, valued at $15,100,399.70. This represents a 1.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce 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 sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,186,017 shares of company stock valued at $405,971,793 over the last quarter. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

NYSE CRM traded up $1.43 during trading hours on Friday, reaching $332.09. 1,973,257 shares of the company were exchanged, compared to its average volume of 3,348,532. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The business’s 50 day simple moving average is $331.96 and its 200-day simple moving average is $285.33. The stock has a market capitalization of $317.81 billion, a P/E ratio of 54.62, a P/E/G ratio of 3.21 and a beta of 1.30. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same period in the prior year, the business earned $1.62 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities research analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. Salesforce’s payout ratio is 26.32%.

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.