Davis R M Inc. Has $794,000 Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Davis R M Inc. trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 7.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,901 shares of the CRM provider’s stock after selling 218 shares during the period. Davis R M Inc.’s holdings in Salesforce were worth $794,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of CRM. Aviance Capital Partners LLC lifted its position in shares of Salesforce by 0.5% in the third quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock worth $1,860,000 after purchasing an additional 33 shares in the last quarter. Umpqua Bank increased its stake in Salesforce by 0.4% in the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock valued at $2,110,000 after buying an additional 34 shares during the period. Nvwm LLC lifted its position in Salesforce by 1.4% in the 3rd quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock worth $667,000 after buying an additional 36 shares in the last quarter. Prentice Wealth Management LLC lifted its position in Salesforce by 1.5% in the 3rd quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock worth $686,000 after buying an additional 37 shares in the last quarter. Finally, Private Wealth Management Group LLC boosted its stake in shares of Salesforce by 11.6% during the 3rd quarter. Private Wealth Management Group LLC now owns 357 shares of the CRM provider’s stock valued at $98,000 after buying an additional 37 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on CRM shares. BNP Paribas upgraded Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Stifel Nicolaus raised their price target on Salesforce from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Wells Fargo & Company boosted their price target on Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 12th. Oppenheimer reaffirmed an “outperform” rating and set a $385.00 price objective (up previously from $330.00) on shares of Salesforce in a research report on Thursday, November 21st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $345.00 target price on shares of Salesforce in a research report on Friday, September 20th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have issued 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 $339.66.

Insider Activity at Salesforce

In other news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the sale, the chief financial officer now owns 52,930 shares in the company, valued at approximately $15,100,399.70. The trade was a 1.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sabastian Niles sold 2,484 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total transaction of $608,108.04. Following the sale, the insider now owns 828 shares of the company’s stock, valued at $202,702.68. This trade represents a 75.00 % 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 valued at $42,475,538 in the last 90 days. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Performance

Shares of NYSE CRM opened at $339.12 on Tuesday. The firm has a market capitalization of $324.20 billion, a price-to-earnings ratio of 58.98, a PEG ratio of 3.10 and a beta of 1.29. Salesforce, Inc. has a one year low of $212.00 and a one year high of $348.86. The business has a fifty day simple moving average of $296.26 and a 200 day simple moving average of $268.98. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

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

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. Salesforce’s dividend payout ratio (DPR) 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.