Davidson Capital Management Inc. Has $3.38 Million Position in Salesforce, Inc. (NYSE:CRM)

Davidson Capital Management Inc. boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 62.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,156 shares of the CRM provider’s stock after acquiring an additional 5,079 shares during the period. Salesforce accounts for 1.0% of Davidson Capital Management Inc.’s holdings, making the stock its 12th biggest position. Davidson Capital Management Inc.’s holdings in Salesforce were worth $3,382,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Joseph Group Capital Management grew its stake in Salesforce by 1.6% in the 2nd quarter. Joseph Group Capital Management now owns 7,181 shares of the CRM provider’s stock valued at $1,846,000 after buying an additional 111 shares during the last quarter. GM Advisory Group LLC bought a new position in Salesforce during the 2nd quarter worth $227,000. Wealth Advisors of Tampa Bay LLC lifted its holdings in shares of Salesforce by 0.9% during the second quarter. Wealth Advisors of Tampa Bay LLC now owns 18,358 shares of the CRM provider’s stock worth $4,720,000 after buying an additional 155 shares in the last quarter. Intech Investment Management LLC boosted its position in shares of Salesforce by 308.1% in the second quarter. Intech Investment Management LLC now owns 202,074 shares of the CRM provider’s stock valued at $51,953,000 after acquiring an additional 152,561 shares during the period. Finally, ProVise Management Group LLC grew its stake in shares of Salesforce by 1.0% in the second quarter. ProVise Management Group LLC now owns 5,518 shares of the CRM provider’s stock valued at $1,419,000 after acquiring an additional 56 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Salesforce

In other news, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $257.04, for a total value of $1,079,568.00. Following the completion of the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at $30,223,020.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Salesforce news, insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total transaction of $608,108.04. Following the transaction, the insider now directly owns 828 shares of the company’s stock, valued at approximately $202,702.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $257.04, for a total transaction of $1,079,568.00. Following the completion of the sale, the insider now owns 117,581 shares of the company’s stock, valued at approximately $30,223,020.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,576 shares of company stock worth $16,957,573. Insiders own 3.20% of the company’s stock.

Salesforce Trading Up 5.3 %

Shares of Salesforce stock opened at $265.87 on Friday. The stock has a market capitalization of $257.63 billion, a PE ratio of 47.82, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71. The stock has a 50 day moving average price of $253.90 and a two-hundred day moving average price of $267.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating 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 business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter last year, the firm posted $1.63 EPS. Salesforce’s revenue was up 8.5% compared to the same quarter last year. As a group, equities analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.60%. Salesforce’s payout ratio is 28.78%.

Analyst Ratings Changes

CRM has been the subject of a number of recent research reports. Roth Mkm reissued a “buy” rating and issued a $335.00 price objective on shares of Salesforce in a report on Thursday, August 29th. TD Cowen increased their price target on Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft dropped their price objective on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, May 30th. FBN Securities raised Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Finally, Oppenheimer lifted their price objective on shares of Salesforce from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $306.00.

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.