Keybank National Association OH Has $11.47 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Keybank National Association OH grew its position in Salesforce, Inc. (NYSE:CRM) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,299 shares of the CRM provider’s stock after purchasing an additional 1,287 shares during the quarter. Keybank National Association OH’s holdings in Salesforce were worth $11,467,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Infrastructure Capital Advisors LLC acquired a new position in Salesforce in the 3rd quarter valued at $27,000. Arlington Trust Co LLC boosted its position in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc bought a new stake in shares of Salesforce in the fourth quarter valued at about $30,000. Asset Planning Inc acquired a new position in shares of Salesforce in the fourth quarter valued at about $31,000. Finally, Collier Financial bought a new position in Salesforce during the fourth quarter worth about $32,000. Institutional investors own 80.43% of the company’s stock.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director G Mason Morfit sold 722,300 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the completion of the transaction, the director now owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. The trade was a 18.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,108,793 shares of company stock worth $383,156,227 in the last quarter. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Performance

Shares of Salesforce stock opened at $287.10 on Wednesday. The company has a market cap of $274.76 billion, a P/E ratio of 47.22, a PEG ratio of 2.58 and a beta of 1.31. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average price of $326.96 and a two-hundred day moving average price of $308.33. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

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

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is 25.16%.

Analysts Set New Price Targets

CRM has been the topic of a number of analyst reports. Loop Capital decreased their target price on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Citigroup reiterated a “cautious” rating on shares of Salesforce in a research note on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and set a $400.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. Northland Securities reiterated an “outperform” rating and set a $440.00 target price (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, Morgan Stanley raised their price target on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, thirty-two have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $365.32.

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.