Smithfield Trust Co Decreases Stock Position in Salesforce, Inc. (NYSE:CRM)

Smithfield Trust Co lowered its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.7% in the third quarter, HoldingsChannel.com reports. The fund owned 2,966 shares of the CRM provider’s stock after selling 51 shares during the quarter. Smithfield Trust Co’s holdings in Salesforce were worth $809,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Piscataqua Savings Bank raised its stake in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. Clear Investment Research LLC raised its position in shares of Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after buying an additional 98 shares during the last quarter. Godsey & Gibb Inc. lifted its stake in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce during the second quarter worth $33,000. Finally, Stephens Consulting LLC boosted its holdings in shares of Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 3.2 %

NYSE:CRM opened at $336.19 on Friday. The firm has a market capitalization of $321.40 billion, a PE ratio of 58.47, a price-to-earnings-growth ratio of 2.93 and a beta of 1.29. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $348.86. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average of $292.86 and a 200-day moving average of $268.20.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.63 EPS. Analysts predict that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.48%. Salesforce’s payout ratio is presently 27.83%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CRM shares. Roth Mkm reissued a “buy” rating and issued a $335.00 price target on shares of Salesforce in a research note on Thursday, August 29th. Oppenheimer reiterated an “outperform” rating and set a $385.00 price objective (up from $330.00) on shares of Salesforce in a report on Thursday. Bank of America boosted their target price on shares of Salesforce from $325.00 to $390.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. FBN Securities raised shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a report on Thursday, September 19th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $329.11.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 3,528 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $250.59, for a total transaction of $884,081.52. Following the transaction, the insider now directly owns 117,581 shares in the company, valued at $29,464,622.79. This trade represents a 2.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brian Millham sold 60,522 shares of Salesforce stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 133,183 shares of company stock valued at $38,314,066. Company insiders own 3.20% of the company’s stock.

About Salesforce

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.