Bank of Stockton Acquires 538 Shares of Salesforce, Inc. (NYSE:CRM)

Bank of Stockton increased its holdings in Salesforce, Inc. (NYSE:CRM) by 58.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,451 shares of the CRM provider’s stock after purchasing an additional 538 shares during the period. Bank of Stockton’s holdings in Salesforce were worth $373,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Chase Investment Counsel Corp boosted its stake in shares of Salesforce by 0.3% during the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock worth $2,730,000 after acquiring an additional 36 shares in the last quarter. JFS Wealth Advisors LLC lifted its holdings in Salesforce by 11.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock worth $93,000 after purchasing an additional 36 shares during the last quarter. Fox Hill Wealth Management boosted its position in Salesforce by 4.0% during the first quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock worth $297,000 after purchasing an additional 38 shares during the period. Pinnacle Wealth Planning Services Inc. grew its holdings in Salesforce by 0.8% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock valued at $1,490,000 after purchasing an additional 38 shares during the last quarter. Finally, Glassman Wealth Services raised its position in shares of Salesforce by 2.9% in the fourth quarter. Glassman Wealth Services now owns 1,369 shares of the CRM provider’s stock valued at $360,000 after purchasing an additional 39 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the transaction, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at $1,644,921.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Salesforce news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $269.26, for a total value of $1,130,892.00. Following the completion of the sale, the insider now owns 115,762 shares in the company, valued at approximately $31,170,076.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the transaction, the chief accounting officer now owns 6,431 shares in the company, valued at $1,644,921.18. The disclosure for this sale can be found here. Insiders sold 142,964 shares of company stock valued at $35,273,059 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Shares of NYSE:CRM traded up $5.41 on Friday, hitting $264.00. The stock had a trading volume of 4,711,326 shares, compared to its average volume of 6,563,299. The firm’s 50 day moving average price is $252.09 and its 200-day moving average price is $272.13. 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, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The company has a market capitalization of $255.82 billion, a price-to-earnings ratio of 47.48, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.06. The firm had revenue of $9.13 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm posted $1.15 EPS. On average, equities research analysts predict that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were given 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 yield of 0.61%. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Wall Street Analyst Weigh In

CRM has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $350.00 price objective on shares of Salesforce in a report on Friday, May 24th. Mizuho decreased their price target on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Canaccord Genuity Group dropped their price objective on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. TD Cowen cut their price objective on Salesforce from $330.00 to $285.00 and set a “hold” rating for the company in a research report on Thursday, May 30th. Finally, Oppenheimer lowered their target price on Salesforce from $325.00 to $280.00 and set an “outperform” 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 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $291.50.

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.