Mcrae Capital Management Inc. Has $11.58 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Mcrae Capital Management Inc. grew its holdings in Salesforce, Inc. (NYSE:CRM) by 6.7% during the third quarter, Holdings Channel.com reports. The firm owned 42,304 shares of the CRM provider’s stock after buying an additional 2,652 shares during the period. Salesforce comprises about 2.3% of Mcrae Capital Management Inc.’s portfolio, making the stock its 22nd biggest holding. Mcrae Capital Management Inc.’s holdings in Salesforce were worth $11,579,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CRM. Prentice Wealth Management LLC grew its holdings in shares of Salesforce by 1.5% during the third quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock worth $686,000 after purchasing an additional 37 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its holdings in Salesforce by 0.8% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after acquiring an additional 38 shares during the last quarter. Fulton Bank N.A. increased its position in Salesforce by 0.4% in the 3rd quarter. Fulton Bank N.A. now owns 9,269 shares of the CRM provider’s stock valued at $2,537,000 after acquiring an additional 38 shares in the last quarter. CRA Financial Services LLC raised its stake in shares of Salesforce by 3.4% in the third quarter. CRA Financial Services LLC now owns 1,160 shares of the CRM provider’s stock worth $318,000 after acquiring an additional 38 shares during the last quarter. Finally, Boomfish Wealth Group LLC lifted its position in shares of Salesforce by 0.4% during the third quarter. Boomfish Wealth Group LLC now owns 9,312 shares of the CRM provider’s stock worth $2,549,000 after purchasing an additional 38 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Salesforce news, COO Brian Millham sold 969 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $286.56, for a total value of $277,676.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Brian Millham sold 969 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $286.56, for a total value of $277,676.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $257.28, for a total transaction of $1,080,576.00. Following the transaction, the insider now owns 117,581 shares in the company, valued at approximately $30,251,239.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,781 shares of company stock worth $23,696,593. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Stifel Nicolaus increased their price objective on Salesforce from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Northland Capmk raised Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Robert W. Baird raised their target price on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. boosted their price target on shares of Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Finally, BNP Paribas raised shares of Salesforce to a “strong-buy” 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $312.51.

Salesforce Trading Up 1.3 %

NYSE:CRM opened at $290.46 on Friday. The company has a market cap of $281.46 billion, a P/E ratio of 52.24, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The business has a 50 day moving average price of $269.73 and a two-hundred day moving average price of $263.05. 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 (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion during the quarter, compared to analysts’ expectations 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. As a group, analysts expect that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business 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. 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 dividend payout ratio is currently 28.78%.

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.