Salesforce, Inc. (NYSE:CRM) Shares Acquired by Gemmer Asset Management LLC

Gemmer Asset Management LLC increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 179.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,978 shares of the CRM provider’s stock after acquiring an additional 2,554 shares during the period. Gemmer Asset Management LLC’s holdings in Salesforce were worth $1,330,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Infrastructure Capital Advisors LLC acquired a new position in Salesforce during the third quarter worth $27,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce during the 2nd quarter worth about $33,000. Godsey & Gibb Inc. lifted its stake in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares in the last quarter. Annapolis Financial Services LLC boosted its holdings 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, FSA Wealth Management LLC purchased a new stake in Salesforce during the 3rd quarter worth approximately $53,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Salesforce stock opened at $324.77 on Monday. The company’s 50 day moving average is $337.31 and its two-hundred day moving average is $291.80. The firm has a market cap of $310.81 billion, a PE ratio of 53.42, a price-to-earnings-growth ratio of 2.87 and a beta of 1.30. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

Salesforce (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter last year, the business posted $1.62 earnings per share. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, research analysts expect that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. Salesforce’s payout ratio is 26.32%.

Insider Activity at Salesforce

In other news, COO Brian Millham sold 6,161 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $289.75, for a total value of $1,785,149.75. Following the completion of the sale, the chief operating officer now directly owns 969 shares of the company’s stock, valued at approximately $280,767.75. This represents a 86.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,183,838 shares of company stock valued at $405,595,158 over the last 90 days. 3.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Scotiabank lifted their price target on Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 4th. JMP Securities reaffirmed a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a research report on Friday, December 13th. Northland Securities restated an “outperform” rating and set a $440.00 price target (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, DA Davidson increased their price objective on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

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.