Salesforce, Inc. (NYSE:CRM) Shares Bought by Joseph Group Capital Management

Joseph Group Capital Management lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 35.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 9,696 shares of the CRM provider’s stock after purchasing an additional 2,515 shares during the quarter. Salesforce comprises 1.0% of Joseph Group Capital Management’s investment portfolio, making the stock its 28th biggest position. Joseph Group Capital Management’s holdings in Salesforce were worth $2,654,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CRM. Bessemer Group Inc. grew its holdings in shares of Salesforce by 103.5% in the first quarter. Bessemer Group Inc. now owns 54,761 shares of the CRM provider’s stock valued at $16,494,000 after purchasing an additional 27,850 shares during the period. Vaughan David Investments LLC IL purchased a new stake in shares of Salesforce in the 1st quarter valued at approximately $324,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Salesforce by 31.0% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 81,100 shares of the CRM provider’s stock worth $24,426,000 after buying an additional 19,200 shares during the last quarter. InterOcean Capital Group LLC lifted its holdings in Salesforce by 18.0% in the first quarter. InterOcean Capital Group LLC now owns 4,062 shares of the CRM provider’s stock valued at $1,223,000 after acquiring an additional 621 shares during the last quarter. Finally, Evermay Wealth Management LLC lifted its holdings in Salesforce by 5.1% in the first quarter. Evermay Wealth Management LLC now owns 1,879 shares of the CRM provider’s stock valued at $566,000 after acquiring an additional 91 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Trading Down 0.9 %

NYSE:CRM opened at $322.25 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $348.86. The stock’s 50 day moving average price is $288.14 and its 200 day moving average price is $266.96. The company has a market capitalization of $308.07 billion, a PE ratio of 56.04, a P/E/G ratio of 2.94 and a beta of 1.29.

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

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 27.83%.

Insider Activity at Salesforce

In other Salesforce news, COO Brian Millham sold 4,056 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $261.50, for a total value of $1,060,644.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Miguel Milano sold 2,934 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $262.95, for a total transaction of $771,495.30. Following the completion of the sale, the insider now owns 3,716 shares of the company’s stock, valued at $977,122.20. This trade represents a 44.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 140,173 shares of company stock worth $40,146,206 in the last quarter. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CRM shares. JPMorgan Chase & Co. lifted their target price on Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Roth Mkm reaffirmed a “buy” rating and issued a $335.00 target price on shares of Salesforce in a research report on Thursday, August 29th. UBS Group lifted their price target on shares of Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. BNP Paribas raised shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Erste Group Bank restated a “hold” rating on shares of Salesforce in a research report on Wednesday, September 11th. Nine equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $325.36.

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.