Salesforce, Inc. (NYSE:CRM) Shares Acquired by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 11.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,311 shares of the CRM provider’s stock after purchasing an additional 138 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Salesforce were worth $395,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CRM. Glenview Trust co increased its position in shares of Salesforce by 14.7% during the third quarter. Glenview Trust co now owns 4,329 shares of the CRM provider’s stock worth $878,000 after purchasing an additional 555 shares in the last quarter. Rathbones Group PLC increased its position in shares of Salesforce by 492.3% in the 3rd quarter. Rathbones Group PLC now owns 6,823 shares of the CRM provider’s stock valued at $1,384,000 after acquiring an additional 5,671 shares during the period. Acadian Asset Management LLC increased its position in shares of Salesforce by 12.8% in the 3rd quarter. Acadian Asset Management LLC now owns 40,526 shares of the CRM provider’s stock valued at $8,213,000 after acquiring an additional 4,589 shares during the period. LPL Financial LLC increased its position in shares of Salesforce by 9.8% in the 3rd quarter. LPL Financial LLC now owns 755,836 shares of the CRM provider’s stock valued at $153,286,000 after acquiring an additional 67,156 shares during the period. Finally, Ontario Teachers Pension Plan Board increased its position in shares of Salesforce by 3.0% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 1,718,376 shares of the CRM provider’s stock valued at $348,452,000 after acquiring an additional 49,826 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Stifel Nicolaus cut their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Citigroup cut their target price on Salesforce from $323.00 to $260.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. TD Cowen cut their target price on Salesforce from $330.00 to $285.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th. StockNews.com downgraded Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. Finally, Mizuho cut their price target on Salesforce from $345.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $292.79.

Salesforce Trading Up 4.3 %

Shares of Salesforce stock opened at $241.88 on Friday. The firm has a market capitalization of $234.38 billion, a PE ratio of 43.50, a P/E/G ratio of 2.03 and a beta of 1.25. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The firm’s 50-day moving average price is $263.45 and its 200 day moving average price is $276.36. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.06. The firm had revenue of $9.13 billion for the quarter, compared to analyst estimates of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. Salesforce’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the company posted $1.15 EPS. On average, sell-side analysts predict that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other Salesforce news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $306.50, for a total value of $1,287,300.00. Following the transaction, the insider now directly owns 105,837 shares of the company’s stock, valued at approximately $32,439,040.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Salesforce news, insider R David Schmaier sold 3,910 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $274.77, for a total value of $1,074,350.70. Following the transaction, the insider now directly owns 19,463 shares of the company’s stock, valued at approximately $5,347,848.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $306.50, for a total transaction of $1,287,300.00. Following the sale, the insider now owns 105,837 shares of the company’s stock, valued at approximately $32,439,040.50. The disclosure for this sale can be found here. Insiders have sold 575,989 shares of company stock valued at $160,340,775 in the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

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.