Salesforce, Inc. (NYSE:CRM) Shares Acquired by Community Trust & Investment Co.

Community Trust & Investment Co. increased its holdings in Salesforce, Inc. (NYSE:CRM) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,271 shares of the CRM provider’s stock after acquiring an additional 1,107 shares during the quarter. Salesforce makes up about 1.5% of Community Trust & Investment Co.’s holdings, making the stock its 16th biggest position. Community Trust & Investment Co.’s holdings in Salesforce were worth $23,887,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Hoxton Planning & Management LLC acquired a new position in Salesforce in the 1st quarter valued at $220,000. Sound Income Strategies LLC increased its stake in Salesforce by 44.5% in the 1st quarter. Sound Income Strategies LLC now owns 815 shares of the CRM provider’s stock valued at $245,000 after buying an additional 251 shares during the period. Brookstone Capital Management increased its stake in Salesforce by 1.6% in the 1st quarter. Brookstone Capital Management now owns 39,088 shares of the CRM provider’s stock valued at $11,773,000 after buying an additional 622 shares during the period. Sovereign Financial Group Inc. increased its stake in Salesforce by 5.2% in the 1st quarter. Sovereign Financial Group Inc. now owns 1,147 shares of the CRM provider’s stock valued at $345,000 after buying an additional 57 shares during the period. Finally, GoalVest Advisory LLC increased its stake in Salesforce by 200.6% in the 1st quarter. GoalVest Advisory LLC now owns 932 shares of the CRM provider’s stock valued at $281,000 after buying an additional 622 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total transaction of $1,217,454.00. Following the completion of the transaction, the insider now directly owns 118,514 shares in the company, valued at approximately $34,353,653.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total transaction of $1,217,454.00. Following the transaction, the insider now directly owns 118,514 shares of the company’s stock, valued at approximately $34,353,653.18. 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 is accessible through the SEC website. Also, insider Miguel Milano sold 2,934 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $262.95, for a total value of $771,495.30. Following the transaction, the insider now directly owns 3,716 shares in the company, valued at $977,122.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 85,502 shares of company stock worth $23,045,186. 3.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CRM shares. Raymond James boosted their price objective on shares of Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 29th. Oppenheimer boosted their target price on shares of Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Needham & Company LLC restated a “buy” rating and set a $345.00 target price on shares of Salesforce in a research report on Friday, September 20th. Bank of America restated a “buy” rating and set a $325.00 target price on shares of Salesforce in a research report on Friday, September 6th. Finally, Wedbush boosted their target price on shares of Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. 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’s stock. Based on data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $311.66.

Salesforce Stock Down 1.0 %

CRM opened at $288.24 on Wednesday. The firm has a 50 day moving average price of $268.12 and a 200 day moving average price of $263.09. The company has a market cap of $279.30 billion, a PE ratio of 51.84, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. 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 results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping 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%. Salesforce’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.63 EPS. Sell-side analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 28.78%.

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.