Cypress Capital Group Trims Holdings in Salesforce, Inc. (NYSE:CRM)

Cypress Capital Group decreased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 6,823 shares of the CRM provider’s stock after selling 146 shares during the period. Cypress Capital Group’s holdings in Salesforce were worth $1,868,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Piscataqua Savings Bank grew its stake in Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares in the last quarter. Clear Investment Research LLC grew 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 valued at $28,000 after purchasing an additional 98 shares in the last quarter. Godsey & Gibb Inc. increased its holdings in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Salesforce in the second quarter worth $33,000. Finally, Stephens Consulting LLC boosted its stake in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after buying an additional 125 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other Salesforce news, insider Miguel Milano sold 2,934 shares of Salesforce stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $262.95, for a total value of $771,495.30. Following the sale, the insider now owns 3,716 shares in the company, valued at $977,122.20. The trade was a 44.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $262.90, for a total value of $1,104,180.00. Following the transaction, the insider now owns 117,581 shares in the company, valued at $30,912,044.90. This trade represents a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 136,117 shares of company stock valued at $39,085,562 over the last quarter. 3.20% of the stock is currently owned by company insiders.

Salesforce Price Performance

NYSE CRM opened at $325.70 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $311.37 billion, a P/E ratio of 56.64, a PEG ratio of 2.93 and a beta of 1.29. The company has a 50-day moving average price of $291.21 and a 200-day moving average price of $267.72. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $348.86.

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 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 for the quarter, compared to the consensus estimate of $9.22 billion. During the same period last year, the firm earned $1.63 earnings per share. The company’s quarterly revenue was up 8.5% on a year-over-year basis. Equities research analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is 27.83%.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of research analyst reports. Bank of America lifted their price target on Salesforce from $325.00 to $390.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Needham & Company LLC reiterated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a research report on Friday, September 20th. TD Cowen raised their price target on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. UBS Group upped their price objective on Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. raised their price objective on Salesforce from $310.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $326.19.

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.