Sawyer & Company Inc Buys 348 Shares of Salesforce, Inc. (NYSE:CRM)

Sawyer & Company Inc raised its position in shares of Salesforce, Inc. (NYSE:CRM) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,163 shares of the CRM provider’s stock after buying an additional 348 shares during the period. Salesforce comprises 1.9% of Sawyer & Company Inc’s portfolio, making the stock its 13th biggest position. Sawyer & Company Inc’s holdings in Salesforce were worth $5,245,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Prentice Wealth Management LLC lifted its holdings in shares of Salesforce by 1.5% during the 3rd quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock worth $686,000 after acquiring an additional 37 shares during the period. Fox Hill Wealth Management increased its stake in shares of Salesforce by 4.0% in 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 in the last quarter. Pinnacle Wealth Planning Services Inc. grew its stake 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 acquiring an additional 38 shares in the last quarter. Fulton Bank N.A. grew its stake in Salesforce by 0.4% during the third quarter. Fulton Bank N.A. now owns 9,269 shares of the CRM provider’s stock valued at $2,537,000 after acquiring an additional 38 shares in the last quarter. Finally, CRA Financial Services LLC grew its stake in Salesforce by 3.4% during the third quarter. CRA Financial Services LLC now owns 1,160 shares of the CRM provider’s stock valued at $318,000 after acquiring an additional 38 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Down 0.7 %

NYSE CRM traded down $2.07 during trading on Friday, hitting $288.10. The stock had a trading volume of 3,597,035 shares, compared to its average volume of 6,491,262. The company has a market capitalization of $275.42 billion, a PE ratio of 50.10, a PEG ratio of 2.61 and a beta of 1.30. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average price of $261.93 and a 200 day moving average price of $263.88. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.63 earnings per share. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.56%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is 27.83%.

Insiders Place Their Bets

In other Salesforce news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $288.42, for a total transaction of $1,211,364.00. Following the transaction, the insider now owns 118,514 shares of the company’s stock, valued at $34,181,807.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $288.42, for a total value of $1,211,364.00. Following the transaction, the insider now owns 118,514 shares of the company’s stock, valued at approximately $34,181,807.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sabastian Niles sold 2,484 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total value of $608,108.04. Following the sale, the insider now owns 828 shares in the company, valued at approximately $202,702.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 80,612 shares of company stock valued at $21,283,087 over the last quarter. Company insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CRM. Sanford C. Bernstein lifted their target price on shares of Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. BNP Paribas upgraded shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Needham & Company LLC restated a “buy” rating and issued a $345.00 price objective on shares of Salesforce in a report on Friday, September 20th. Evercore ISI restated an “outperform” rating and issued a $300.00 price objective on shares of Salesforce in a report on Monday, August 26th. Finally, Canaccord Genuity Group boosted their price objective on shares of Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $310.74.

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.