Community Trust & Investment Co. Acquires 1,107 Shares of Salesforce, Inc. (NYSE:CRM)

Community Trust & Investment Co. raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 87,271 shares of the CRM provider’s stock after purchasing an additional 1,107 shares during the quarter. Salesforce accounts for about 1.5% of Community Trust & Investment Co.’s portfolio, making the stock its 16th largest position. Community Trust & Investment Co.’s holdings in Salesforce were worth $23,887,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Capital Research Global Investors lifted its holdings in shares of Salesforce by 26.9% in the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after acquiring an additional 3,044,611 shares during the last quarter. GQG Partners LLC purchased a new stake in Salesforce during the 1st quarter worth approximately $910,220,000. Swedbank AB purchased a new stake in Salesforce during the 1st quarter worth approximately $874,748,000. Massachusetts Financial Services Co. MA grew its position in Salesforce by 48.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after purchasing an additional 1,922,674 shares during the last quarter. Finally, AMF Tjanstepension AB grew its position in Salesforce by 376.1% during the 2nd quarter. AMF Tjanstepension AB now owns 1,442,453 shares of the CRM provider’s stock worth $370,873,000 after purchasing an additional 1,139,472 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Salesforce stock opened at $288.24 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The company has a fifty day simple moving average of $268.12 and a 200-day simple moving average of $263.09. The firm has a market capitalization of $279.30 billion, a price-to-earnings ratio of 51.84, a PEG ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the prior year, the company posted $1.63 earnings per share. Salesforce’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, equities analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm 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. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.56%. Salesforce’s dividend payout ratio is presently 28.78%.

Insider Transactions at Salesforce

In related news, COO Brian Millham sold 4,056 shares of Salesforce stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $261.50, for a total value of $1,060,644.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Salesforce news, Director Maynard G. Webb, Jr. sold 9,170 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the sale, the director now owns 1,363 shares of the company’s stock, valued at approximately $376,624.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Brian Millham sold 4,056 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $261.50, for a total transaction of $1,060,644.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,502 shares of company stock valued at $23,045,186. 3.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CRM has been the topic of several research analyst reports. DA Davidson boosted their target price on shares of Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. JMP Securities restated a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a research note on Wednesday, August 28th. Robert W. Baird lifted their price objective on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Wedbush lifted their price objective on shares of Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Finally, FBN Securities upgraded shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $311.66.

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.