Quest Partners LLC Has $161,000 Holdings in Salesforce, Inc. (NYSE:CRM)

Quest Partners LLC trimmed its holdings in Salesforce, Inc. (NYSE:CRM) by 73.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 628 shares of the CRM provider’s stock after selling 1,709 shares during the period. Quest Partners LLC’s holdings in Salesforce were worth $161,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Spartan Planning & Wealth Management lifted its position in shares of Salesforce by 66.3% during the 4th quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock valued at $412,000 after acquiring an additional 625 shares during the period. Parnassus Investments LLC grew its stake in Salesforce by 0.3% during the fourth quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock worth $1,566,055,000 after buying an additional 18,397 shares in the last quarter. TD Asset Management Inc increased its holdings in Salesforce by 32.6% in the 4th quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock valued at $207,756,000 after buying an additional 194,224 shares during the period. Chicago Partners Investment Group LLC raised its position in shares of Salesforce by 1.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 7,160 shares of the CRM provider’s stock valued at $1,983,000 after buying an additional 95 shares in the last quarter. Finally, M&G Plc bought a new stake in shares of Salesforce during the 1st quarter worth approximately $2,178,000. 80.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Srinivas Tallapragada sold 942 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $242.32, for a total transaction of $228,265.44. Following the transaction, the insider now directly owns 22,154 shares of the company’s stock, valued at $5,368,357.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Srinivas Tallapragada sold 942 shares of Salesforce stock in a transaction on Monday, June 24th. The stock was sold at an average price of $242.32, for a total transaction of $228,265.44. Following the sale, the insider now directly owns 22,154 shares in the company, valued at $5,368,357.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sabastian Niles sold 2,484 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total value of $608,108.04. Following the completion of the transaction, the insider now owns 828 shares of the company’s stock, valued at approximately $202,702.68. The disclosure for this sale can be found here. Insiders have sold 62,376 shares of company stock valued at $15,878,005 in the last three months. 3.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CRM. Robert W. Baird boosted their price objective on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. DA Davidson upped their price objective on Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. FBN Securities upgraded Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Morgan Stanley increased their price objective on shares of Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $305.55.

Salesforce Stock Performance

NYSE CRM opened at $254.57 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $253.56 and a 200 day simple moving average of $267.91. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The company has a market cap of $246.68 billion, a P/E ratio of 45.79, a PEG ratio of 2.26 and a beta of 1.29.

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

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

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.