OLD National Bancorp IN Purchases 521 Shares of Salesforce, Inc. (NYSE:CRM)

OLD National Bancorp IN boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 0.7% in the second quarter, Holdings Channel.com reports. The firm owned 78,746 shares of the CRM provider’s stock after acquiring an additional 521 shares during the period. OLD National Bancorp IN’s holdings in Salesforce were worth $20,246,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. bought a new position in shares of Salesforce in the 4th quarter valued at about $26,000. Signature Resources Capital Management LLC bought a new position in shares of Salesforce in the 4th quarter valued at about $26,000. Ruedi Wealth Management Inc. grew its holdings in shares of Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 56 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of Salesforce in the 4th quarter valued at about $31,000. Finally, Red Tortoise LLC bought a new position in shares of Salesforce in the 1st quarter valued at about $33,000. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group cut their target price on shares of Salesforce from $360.00 to $350.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Oppenheimer cut their target price on shares of Salesforce from $325.00 to $280.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. Sanford C. Bernstein raised their target price on shares of Salesforce from $231.00 to $234.00 and gave the company an “underperform” rating in a research note on Thursday, May 30th. Truist Financial restated a “buy” rating and set a $300.00 price objective (down from $360.00) on shares of Salesforce in a research report on Thursday, May 30th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $292.79.

Salesforce Price Performance

NYSE:CRM traded up $3.40 during mid-day trading on Friday, reaching $252.52. The stock had a trading volume of 2,974,806 shares, compared to its average volume of 6,696,709. The stock has a 50-day simple moving average of $247.58 and a two-hundred day simple moving average of $273.81. The stock has a market capitalization of $244.69 billion, a PE ratio of 45.42, a P/E/G ratio of 2.22 and a beta of 1.29. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.06. The business had revenue of $9.13 billion for the quarter, compared to analysts’ expectations of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the firm posted $1.15 earnings per share. On average, equities analysts anticipate that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were paid a dividend of $0.40 per share. The ex-dividend date was Tuesday, July 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.63%. Salesforce’s payout ratio is presently 28.78%.

Insiders Place Their Bets

In other Salesforce news, insider Parker Harris sold 2,800 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total transaction of $675,416.00. Following the sale, the insider now owns 117,581 shares of the company’s stock, valued at $28,362,888.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Parker Harris sold 2,800 shares of Salesforce stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total transaction of $675,416.00. Following the transaction, the insider now owns 117,581 shares in the company, valued at $28,362,888.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director G Mason Morfit purchased 428,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were acquired at an average price of $233.17 per share, for a total transaction of $99,796,760.00. Following the acquisition, the director now owns 3,914,309 shares of the company’s stock, valued at approximately $912,699,429.53. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 232,842 shares of company stock valued at $60,982,983. 3.20% of the stock is currently owned by insiders.

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.