Harrell Investment Partners LLC Acquires 137 Shares of Salesforce, Inc. (NYSE:CRM)

Harrell Investment Partners LLC lifted its stake in Salesforce, Inc. (NYSE:CRM) by 1.1% in the third quarter, Holdings Channel.com reports. The fund owned 12,971 shares of the CRM provider’s stock after purchasing an additional 137 shares during the period. Harrell Investment Partners LLC’s holdings in Salesforce were worth $3,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Quarry LP boosted its position in shares of Salesforce by 101.0% in the fourth quarter. Quarry LP now owns 193 shares of the CRM provider’s stock valued at $51,000 after acquiring an additional 97 shares during the period. GLOBALT Investments LLC GA purchased a new stake in shares of Salesforce in the 4th quarter valued at about $334,000. American Trust purchased a new position in shares of Salesforce during the fourth quarter worth about $265,000. Beacon Financial Group bought a new position in shares of Salesforce in the fourth quarter worth approximately $371,000. Finally, Chicago Partners Investment Group LLC lifted its position in Salesforce by 1.3% during the fourth quarter. Chicago Partners Investment Group LLC now owns 7,160 shares of the CRM provider’s stock valued at $1,983,000 after purchasing an additional 95 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Price Performance

Shares of NYSE:CRM traded up $0.74 during midday trading on Monday, hitting $288.84. 569,505 shares of the stock were exchanged, compared to its average volume of 6,461,358. 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 market cap of $279.89 billion, a P/E ratio of 51.95, a PEG ratio of 2.61 and a beta of 1.30. The company has a 50 day moving average price of $261.93 and a 200-day moving average price of $263.61. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 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 the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.63 earnings per share. On average, research analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is currently 28.78%.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 4,200 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $254.90, for a total value of $1,070,580.00. Following the completion of the sale, the insider now owns 116,693 shares of the company’s stock, valued at $29,745,045.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $254.90, for a total transaction of $1,070,580.00. Following the completion of the sale, the insider now directly owns 116,693 shares in the company, valued at $29,745,045.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Brian Millham sold 8,427 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $280.00, for a total value of $2,359,560.00. The disclosure for this sale can be found here. Insiders have sold a total of 80,612 shares of company stock worth $21,283,087 in the last three months. 3.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a $300.00 price target on shares of Salesforce in a research report on Thursday, September 19th. DA Davidson increased their target price on shares of Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. JMP Securities reaffirmed a “market outperform” rating and set a $342.00 target price on shares of Salesforce in a research note on Wednesday, August 28th. Northland Capmk upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, Raymond James boosted their price objective on shares of Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Nine 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $310.74.

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.