West Family Investments Inc. Purchases 162 Shares of Salesforce, Inc. (NYSE:CRM)

West Family Investments Inc. raised its position in shares of Salesforce, Inc. (NYSE:CRMGet Rating) by 5.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,227 shares of the CRM provider’s stock after acquiring an additional 162 shares during the period. West Family Investments Inc.’s holdings in Salesforce were worth $685,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Merit Financial Group LLC lifted its stake in Salesforce by 16.6% during the first quarter. Merit Financial Group LLC now owns 4,719 shares of the CRM provider’s stock worth $1,002,000 after purchasing an additional 672 shares during the last quarter. Doyle Wealth Management lifted its stake in Salesforce by 4.2% during the first quarter. Doyle Wealth Management now owns 86,776 shares of the CRM provider’s stock worth $18,424,000 after purchasing an additional 3,490 shares during the last quarter. Mather Group LLC. increased its holdings in shares of Salesforce by 60.3% during the first quarter. Mather Group LLC. now owns 4,803 shares of the CRM provider’s stock worth $1,019,000 after buying an additional 1,806 shares in the last quarter. Donaldson Capital Management LLC increased its holdings in shares of Salesforce by 61.0% during the first quarter. Donaldson Capital Management LLC now owns 7,030 shares of the CRM provider’s stock worth $1,493,000 after buying an additional 2,664 shares in the last quarter. Finally, Covestor Ltd increased its holdings in shares of Salesforce by 42.8% during the first quarter. Covestor Ltd now owns 621 shares of the CRM provider’s stock worth $132,000 after buying an additional 186 shares in the last quarter. Institutional investors own 77.02% of the company’s stock.

Insider Activity at Salesforce

In other news, CEO Marc Benioff sold 2,300 shares of the company’s stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $168.34, for a total value of $387,182.00. Following the transaction, the chief executive officer now owns 28,761,368 shares in the company, valued at $4,841,688,689.12. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Marc Benioff sold 2,300 shares of the stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $168.34, for a total transaction of $387,182.00. Following the transaction, the chief executive officer now owns 28,761,368 shares in the company, valued at $4,841,688,689.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 924 shares of the company’s stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $170.43, for a total transaction of $157,477.32. Following the sale, the chief financial officer now directly owns 29,989 shares of the company’s stock, valued at $5,111,025.27. The disclosure for this sale can be found here. Insiders have sold 70,849 shares of company stock worth $12,442,710 over the last 90 days. 3.60% of the stock is owned by company insiders.

Salesforce Stock Up 2.4 %

Shares of NYSE:CRM opened at $156.90 on Friday. The firm has a fifty day moving average price of $174.75 and a two-hundred day moving average price of $182.02. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.06 and a quick ratio of 1.06. Salesforce, Inc. has a one year low of $150.48 and a one year high of $311.75. The company has a market cap of $156.90 billion, a price-to-earnings ratio of 290.56, a PEG ratio of 4.16 and a beta of 1.12.

Salesforce (NYSE:CRMGet Rating) last issued its earnings results on Wednesday, August 24th. The CRM provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.17. The company had revenue of $7.72 billion for the quarter, compared to analysts’ expectations of $7.70 billion. Salesforce had a net margin of 1.83% and a return on equity of 3.32%. The firm’s revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.87 EPS. Analysts anticipate that Salesforce, Inc. will post 2.2 EPS for the current fiscal year.

Salesforce declared that its board has approved a stock buyback plan on Wednesday, August 24th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the CRM provider to reacquire up to 6.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CRM shares. Barclays lowered their price target on shares of Salesforce from $218.00 to $202.00 and set an “overweight” rating for the company in a report on Thursday, August 25th. Deutsche Bank Aktiengesellschaft decreased their price objective on Salesforce from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 25th. Wolfe Research decreased their price objective on Salesforce from $215.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, August 25th. Morgan Stanley decreased their price objective on Salesforce from $291.00 to $273.00 and set an “overweight” rating for the company in a report on Tuesday, August 16th. Finally, Canaccord Genuity Group decreased their price objective on Salesforce from $260.00 to $215.00 in a report on Thursday, August 25th. Five analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $244.11.

About Salesforce

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Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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