Berbice Capital Management LLC Purchases New Shares in Salesforce, Inc. (NYSE:CRM)

Berbice Capital Management LLC purchased a new stake in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,180 shares of the CRM provider’s stock, valued at approximately $729,000. Salesforce makes up 0.6% of Berbice Capital Management LLC’s portfolio, making the stock its 24th largest holding.

Other large investors have also added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce in the 3rd quarter worth about $27,000. Godsey & Gibb Inc. raised its position in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Salesforce in the 2nd quarter worth about $33,000. Annapolis Financial Services LLC raised its position in Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after buying an additional 80 shares during the last quarter. Finally, Friedenthal Financial purchased a new position in Salesforce in the 4th quarter worth about $55,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 0.7 %

Shares of CRM opened at $336.90 on Friday. 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 stock’s 50 day moving average is $336.50 and its two-hundred day moving average is $293.20. The firm has a market cap of $322.41 billion, a P/E ratio of 55.54, a PEG ratio of 3.01 and a beta of 1.30. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS 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 company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the previous year, the business posted $1.62 EPS. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. Salesforce’s dividend payout ratio is currently 26.32%.

Analysts Set New Price Targets

CRM has been the subject of a number of recent analyst reports. JMP Securities reissued a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Canaccord Genuity Group boosted their price target on Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Scotiabank boosted their price target on Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Jefferies Financial Group boosted their price target on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective for the company in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $377.63.

Insider Buying and Selling at Salesforce

In related news, CEO Marc Benioff sold 317,105 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the sale, the chief executive officer now owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Brian Millham sold 708 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $235,254.24. Following the completion of the sale, the chief operating officer now owns 1,239 shares in the company, valued at $411,694.92. This represents a 36.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,173,891 shares of company stock worth $402,840,388 over the last quarter. 3.20% of the stock is currently owned by company insiders.

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.