ST Germain D J Co. Inc. Purchases 178 Shares of Salesforce, Inc. (NYSE:CRM)

ST Germain D J Co. Inc. lifted its position in Salesforce, Inc. (NYSE:CRM) by 0.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,286 shares of the CRM provider’s stock after purchasing an additional 178 shares during the quarter. ST Germain D J Co. Inc.’s holdings in Salesforce were worth $6,411,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Marks Group Wealth Management Inc lifted its stake in Salesforce by 0.7% in the fourth quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock worth $9,268,000 after acquiring an additional 257 shares during the period. Spartan Planning & Wealth Management increased its holdings in Salesforce by 66.3% in the 4th quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock worth $412,000 after buying an additional 625 shares in the last quarter. Roman Butler Fullerton & Co. raised its holdings in shares of Salesforce by 1.4% during the fourth quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock valued at $2,206,000 after purchasing an additional 105 shares during the last quarter. Parnassus Investments LLC lifted its holdings in shares of Salesforce by 0.3% during the 4th quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock valued at $1,566,055,000 after buying an additional 18,397 shares during the period. Finally, TD Asset Management Inc grew its stake in shares of Salesforce by 32.6% during the 4th quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock valued at $207,756,000 after purchasing an additional 194,224 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the sale, the chief accounting officer now directly owns 5,856 shares in the company, valued at $1,599,566.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Salesforce news, CFO Amy E. Weaver sold 942 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $305.46, for a total value of $287,743.32. Following the completion of the sale, the chief financial officer now owns 39,416 shares of the company’s stock, valued at $12,040,011.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 2,425 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the transaction, the chief accounting officer now owns 5,856 shares in the company, valued at $1,599,566.40. The disclosure for this sale can be found here. Insiders have sold 615,470 shares of company stock valued at $172,557,838 over the last ninety days. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Up 0.6 %

Salesforce stock traded up $1.33 during midday trading on Tuesday, reaching $231.81. The stock had a trading volume of 7,117,563 shares, compared to its average volume of 6,767,142. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The firm’s fifty day simple moving average is $267.36 and its 200-day simple moving average is $277.12. The stock has a market capitalization of $224.62 billion, a P/E ratio of 41.44, a price-to-earnings-growth ratio of 2.04 and a beta of 1.26. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, topping the consensus estimate of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The firm had revenue of $9.13 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same period in the previous year, the firm posted $1.15 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, analysts expect that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CRM has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their price objective on Salesforce from $310.00 to $300.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Canaccord Genuity Group lowered their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. BMO Capital Markets lowered their target price on Salesforce from $335.00 to $265.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. Citigroup dropped their target price on Salesforce from $323.00 to $260.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. Finally, DA Davidson dropped their price objective on shares of Salesforce from $300.00 to $230.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $292.79.

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.