Gryphon Financial Partners LLC Has $896,000 Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Gryphon Financial Partners LLC boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 10.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,484 shares of the CRM provider’s stock after purchasing an additional 323 shares during the quarter. Gryphon Financial Partners LLC’s holdings in Salesforce were worth $896,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Gilbert & Cook Inc. raised its holdings in shares of Salesforce by 6.9% during the fourth quarter. Gilbert & Cook Inc. now owns 5,659 shares of the CRM provider’s stock valued at $1,489,000 after purchasing an additional 366 shares during the period. Aveo Capital Partners LLC raised its stake in Salesforce by 44.7% during the 4th quarter. Aveo Capital Partners LLC now owns 1,605 shares of the CRM provider’s stock worth $422,000 after buying an additional 496 shares during the period. 9258 Wealth Management LLC boosted its holdings in Salesforce by 24.0% in the fourth quarter. 9258 Wealth Management LLC now owns 6,483 shares of the CRM provider’s stock worth $1,706,000 after acquiring an additional 1,253 shares in the last quarter. AGF Management Ltd. acquired a new stake in Salesforce in the fourth quarter valued at approximately $280,000. Finally, Envestnet Portfolio Solutions Inc. raised its position in shares of Salesforce by 5.1% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 45,878 shares of the CRM provider’s stock worth $12,072,000 after purchasing an additional 2,222 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Parker Harris sold 5,600 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $250.17, for a total value of $1,400,952.00. Following the sale, the insider now owns 116,693 shares in the company, valued at approximately $29,193,087.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Parker Harris sold 5,600 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $250.17, for a total value of $1,400,952.00. Following the completion of the transaction, the insider now directly owns 116,693 shares in the company, valued at approximately $29,193,087.81. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Srinivas Tallapragada sold 942 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $242.32, for a total value of $228,265.44. Following the sale, the insider now owns 22,154 shares in the company, valued at $5,368,357.28. The disclosure for this sale can be found here. Insiders have sold 59,892 shares of company stock valued at $15,269,897 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

CRM has been the subject of a number of recent research reports. 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 research note on Thursday, May 30th. Citigroup boosted their target price on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft lowered their price objective on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Stifel Nicolaus raised their price target on shares of Salesforce from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Morgan Stanley increased their price target on Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $304.41.

Salesforce Stock Performance

Shares of NYSE CRM opened at $247.00 on Tuesday. The stock has a market cap of $239.34 billion, a price-to-earnings ratio of 44.20, a P/E/G ratio of 2.21 and a beta of 1.29. The stock’s 50-day moving average is $254.31 and its 200 day moving average is $269.24. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71.

Salesforce (NYSE:CRM) last issued 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. The company had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.63 earnings per share. On average, sell-side analysts anticipate that Salesforce, Inc. will post 7.54 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is 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.