Nicollet Investment Management Inc. Makes New $3.87 Million Investment in Salesforce, Inc. (NYSE:CRM)

Nicollet Investment Management Inc. purchased a new stake in Salesforce, Inc. (NYSE:CRM) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 15,042 shares of the CRM provider’s stock, valued at approximately $3,867,000. Salesforce makes up approximately 1.4% of Nicollet Investment Management Inc.’s investment portfolio, making the stock its 26th largest holding.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Linscomb Wealth Inc. lifted its position in shares of Salesforce by 1.0% in the second quarter. Linscomb Wealth Inc. now owns 16,058 shares of the CRM provider’s stock worth $4,129,000 after purchasing an additional 154 shares in the last quarter. Trifecta Capital Advisors LLC lifted its position in Salesforce by 2.2% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 22,992 shares of the CRM provider’s stock worth $5,911,000 after buying an additional 493 shares in the last quarter. Wellington Shields & Co. LLC boosted its stake in shares of Salesforce by 64.2% during the 2nd quarter. Wellington Shields & Co. LLC now owns 1,919 shares of the CRM provider’s stock worth $493,000 after buying an additional 750 shares during the last quarter. LPL Financial LLC grew its holdings in shares of Salesforce by 4.8% in the 2nd quarter. LPL Financial LLC now owns 909,821 shares of the CRM provider’s stock valued at $233,915,000 after acquiring an additional 41,630 shares in the last quarter. Finally, Marco Investment Management LLC increased its position in shares of Salesforce by 4.6% in the second quarter. Marco Investment Management LLC now owns 52,598 shares of the CRM provider’s stock valued at $13,523,000 after acquiring an additional 2,304 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CRM shares. Sanford C. Bernstein raised their price target on Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. FBN Securities upgraded shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Jefferies Financial Group cut their price target 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. BNP Paribas upgraded shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Finally, Phillip Securities reiterated an “accumulate” rating and issued a $305.00 target price on shares of Salesforce in a research note on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $304.41.

Salesforce Trading Up 0.2 %

Shares of Salesforce stock opened at $246.13 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The company has a market capitalization of $238.50 billion, a price-to-earnings ratio of 44.27, a PEG ratio of 2.21 and a beta of 1.29. The firm’s 50-day moving average price is $254.11 and its two-hundred day moving average price is $268.91.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) 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 analyst estimates of $9.22 billion. During the same quarter last year, the business posted $1.63 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, analysts forecast that Salesforce, Inc. will post 7.54 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.65%. Salesforce’s dividend payout ratio (DPR) is currently 28.78%.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the transaction, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at $1,644,921.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the sale, the chief accounting officer now owns 6,431 shares in the company, valued at $1,644,921.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $229,434.66. Following the transaction, the chief financial officer now owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The disclosure for this sale can be found here. Insiders sold a total of 59,892 shares of company stock worth $15,269,897 in the last ninety days. 3.20% of the stock is 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.