Bank of Stockton Raises Holdings in Salesforce, Inc. (NYSE:CRM)

Bank of Stockton lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 12.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,369 shares of the CRM provider’s stock after purchasing an additional 156 shares during the period. Bank of Stockton’s holdings in Salesforce were worth $458,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Paradigm Asset Management Co. LLC grew its stake in Salesforce by 42.1% in the 4th quarter. Paradigm Asset Management Co. LLC now owns 9,450 shares of the CRM provider’s stock worth $3,159,000 after acquiring an additional 2,800 shares during the period. Cassaday & Co Wealth Management LLC grew its stake in Salesforce by 54.8% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 1,204 shares of the CRM provider’s stock worth $403,000 after acquiring an additional 426 shares during the period. Compass Capital Corp MA ADV purchased a new stake in Salesforce in the 4th quarter worth approximately $206,000. Dash Acquisitions Inc. grew its stake in Salesforce by 2.6% in the 4th quarter. Dash Acquisitions Inc. now owns 60,521 shares of the CRM provider’s stock worth $21,785,000 after acquiring an additional 1,525 shares during the period. Finally, Citizens National Bank Trust Department grew its stake in Salesforce by 1.9% in the 4th quarter. Citizens National Bank Trust Department now owns 1,924 shares of the CRM provider’s stock worth $643,000 after acquiring an additional 35 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director G Mason Morfit sold 722,300 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the sale, the director now directly owns 3,192,009 shares of the company’s stock, valued at approximately $1,104,786,234.99. This represents a 18.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,102,833 shares of company stock valued at $381,389,136 in the last quarter. Insiders own 3.20% of the company’s stock.

Salesforce Price Performance

CRM opened at $318.76 on Friday. The company has a 50-day moving average of $334.23 and a 200-day moving average of $304.76. The company has a market capitalization of $305.06 billion, a P/E ratio of 52.43, a PEG ratio of 2.63 and a beta of 1.31. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the previous year, the firm posted $1.62 EPS. Salesforce’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities analysts expect that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is presently 26.32%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Royal Bank of Canada lifted their price target on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Morgan Stanley lifted their price target on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Redburn Atlantic started coverage on shares of Salesforce in a report on Wednesday. They issued a “buy” rating on the stock. Finally, Guggenheim lowered shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price target on the stock. in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $376.84.

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.