Vestor Capital LLC Increases Position in Salesforce, Inc. (NYSE:CRM)

Vestor Capital LLC boosted its position in Salesforce, Inc. (NYSE:CRM) by 5,663.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 41,897 shares of the CRM provider’s stock after acquiring an additional 41,170 shares during the period. Salesforce comprises approximately 0.9% of Vestor Capital LLC’s holdings, making the stock its 28th biggest holding. Vestor Capital LLC’s holdings in Salesforce were worth $11,468,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Citizens National Bank Trust Department boosted its stake in Salesforce by 7.8% in the 3rd quarter. Citizens National Bank Trust Department now owns 1,889 shares of the CRM provider’s stock worth $517,000 after buying an additional 137 shares during the last quarter. KG&L Capital Management LLC grew its holdings in Salesforce by 10.0% in the third quarter. KG&L Capital Management LLC now owns 3,387 shares of the CRM provider’s stock valued at $927,000 after purchasing an additional 308 shares during the period. Robeco Institutional Asset Management B.V. increased its position in Salesforce by 0.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 975,712 shares of the CRM provider’s stock worth $267,062,000 after purchasing an additional 2,825 shares during the last quarter. Opes Wealth Management LLC boosted its holdings in shares of Salesforce by 3.8% in the 3rd quarter. Opes Wealth Management LLC now owns 1,316 shares of the CRM provider’s stock valued at $360,000 after purchasing an additional 48 shares during the last quarter. Finally, Harvey Capital Management Inc. grew its stake in shares of Salesforce by 243.8% during the 3rd quarter. Harvey Capital Management Inc. now owns 29,136 shares of the CRM provider’s stock valued at $7,975,000 after buying an additional 20,661 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Salesforce

In related news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $298.04, for a total transaction of $1,251,768.00. Following the sale, the insider now directly owns 119,402 shares in the company, valued at $35,586,572.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the transaction, the chief financial officer now directly owns 52,930 shares in the company, valued at approximately $15,100,399.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $298.04, for a total value of $1,251,768.00. Following the completion of the sale, the insider now owns 119,402 shares of the company’s stock, valued at approximately $35,586,572.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 148,303 shares of company stock valued at $42,024,385. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Price Performance

Shares of NYSE CRM opened at $297.50 on Monday. 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 firm has a market capitalization of $284.41 billion, a PE ratio of 51.26, a P/E/G ratio of 2.64 and a beta of 1.29. Salesforce, Inc. has a 1-year low of $204.69 and a 1-year high of $318.71. The business’s fifty day moving average price is $273.02 and its two-hundred day moving average price is $263.18.

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

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders 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 dividend on an annualized basis and a yield of 0.54%. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CRM. Royal Bank of Canada reiterated an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a report on Thursday, September 19th. Evercore ISI reiterated an “outperform” rating and set a $300.00 target price on shares of Salesforce in a report on Monday, August 26th. Sanford C. Bernstein increased their price objective on shares of Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. DA Davidson boosted their price target on Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Finally, Northland Capmk upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $313.37.

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.