Fiduciary Trust Co Buys 3,072 Shares of Salesforce, Inc. (NYSE:CRM)

Fiduciary Trust Co boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 7.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,565 shares of the CRM provider’s stock after purchasing an additional 3,072 shares during the quarter. Fiduciary Trust Co’s holdings in Salesforce were worth $11,924,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CRM. Prime Capital Investment Advisors LLC raised its position in Salesforce by 13.6% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after buying an additional 6,938 shares during the last quarter. Aljian Capital Management LLC lifted its stake in Salesforce by 16.1% in the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after purchasing an additional 1,834 shares during the last quarter. AIA Group Ltd grew its stake in shares of Salesforce by 8.9% during the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after acquiring an additional 1,962 shares during the period. Harvest Portfolios Group Inc. increased its holdings in Salesforce by 13.6% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 89,098 shares of the CRM provider’s stock worth $24,387,000 after acquiring an additional 10,656 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. bought a new stake in Salesforce in the 3rd quarter valued at about $3,672,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other news, insider Parker Harris sold 3,528 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $250.59, for a total transaction of $884,081.52. Following the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $29,464,622.79. The trade was a 2.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Miguel Milano sold 719 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $342.81, for a total value of $246,480.39. Following the transaction, the insider now owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. This represents a 13.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 144,510 shares of company stock worth $42,475,538 in the last 90 days. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CRM shares. Wedbush lifted their target price on shares of Salesforce from $325.00 to $375.00 and gave the stock an “outperform” rating in a research note on Monday. Wells Fargo & Company lifted their price objective on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 12th. UBS Group increased their target price on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Stifel Nicolaus lifted their price target on Salesforce from $320.00 to $350.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $341.89.

Salesforce Price Performance

CRM stock opened at $330.01 on Thursday. The firm’s fifty day moving average is $299.57 and its 200 day moving average is $269.87. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $348.86. The firm has a market cap of $315.49 billion, a P/E ratio of 57.39, a P/E/G ratio of 3.07 and a beta of 1.29.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the firm posted $1.63 earnings per share. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. Research analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. Salesforce’s payout ratio is presently 27.83%.

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.