Nicollet Investment Management Inc. Acquires 201 Shares of Salesforce, Inc. (NYSE:CRM)

Nicollet Investment Management Inc. grew its holdings in Salesforce, Inc. (NYSE:CRM) by 1.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,243 shares of the CRM provider’s stock after acquiring an additional 201 shares during the quarter. Salesforce accounts for about 1.4% of Nicollet Investment Management Inc.’s investment portfolio, making the stock its 27th largest holding. Nicollet Investment Management Inc.’s holdings in Salesforce were worth $4,172,000 at the end of the most recent quarter.

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

Salesforce Stock Down 1.9 %

Shares of NYSE CRM opened at $325.28 on Friday. The business’s fifty day moving average price is $286.61 and its 200-day moving average price is $266.64. Salesforce, Inc. has a one year low of $212.00 and a one year high of $348.86. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $310.96 billion, a PE ratio of 56.57, a P/E/G ratio of 3.09 and a beta of 1.29.

Salesforce (NYSE:CRM) last posted its 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 return on equity of 12.01% and a net margin of 15.44%. The firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the prior year, the business posted $1.63 earnings per share. The business’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 27.83%.

Insider Transactions at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now directly owns 7,006 shares in the company, valued at $1,998,741.74. This represents a 5.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the sale, the chief financial officer now owns 52,930 shares of the company’s stock, valued at approximately $15,100,399.70. This trade represents a 1.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 144,373 shares of company stock valued at $41,250,680. 3.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $300.00 target price on shares of Salesforce in a research note on Thursday, September 19th. UBS Group upped their price objective on shares of Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Oppenheimer restated an “outperform” rating and set a $330.00 target price (up previously from $300.00) on shares of Salesforce in a research note on Thursday, October 24th. DA Davidson upped their price target on shares of Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Finally, Loop Capital increased their price target on shares of Salesforce from $270.00 to $340.00 and gave the company a “hold” rating in a report on Thursday. 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $322.51.

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.