Trust Co. of Toledo NA OH Sells 253 Shares of Salesforce, Inc. (NYSE:CRM)

Trust Co. of Toledo NA OH cut its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,572 shares of the CRM provider’s stock after selling 253 shares during the period. Trust Co. of Toledo NA OH’s holdings in Salesforce were worth $3,989,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CRM. Vanguard Group Inc. increased its holdings in Salesforce by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock worth $25,490,446,000 after purchasing an additional 1,008,841 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Salesforce by 5.2% during the fourth quarter. Fisher Asset Management LLC now owns 14,905,462 shares of the CRM provider’s stock valued at $3,922,223,000 after buying an additional 736,986 shares during the last quarter. Capital Research Global Investors grew its holdings in Salesforce by 26.9% during the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after buying an additional 3,044,611 shares in the last quarter. Capital International Investors raised its position in Salesforce by 3.0% in the 1st quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock valued at $4,251,592,000 after buying an additional 407,834 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Salesforce by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock valued at $2,141,562,000 after acquiring an additional 176,641 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Up 3.2 %

Shares of NYSE:CRM opened at $279.48 on Thursday. The company has a market capitalization of $270.82 billion, a price-to-earnings ratio of 50.27, a PEG ratio of 2.39 and a beta of 1.30. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The business has a 50-day moving average price of $257.54 and a 200 day moving average price of $264.75. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share 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 firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the prior year, the firm earned $1.63 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. Sell-side analysts expect that Salesforce, Inc. will post 7.54 EPS for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Analyst Ratings Changes

Several equities research analysts have commented on CRM shares. Sanford C. Bernstein increased their price objective on shares of Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. TD Cowen increased their price target on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Erste Group Bank reiterated a “hold” rating on shares of Salesforce in a report on Wednesday, September 11th. Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Finally, BNP Paribas upgraded Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Eight 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. According to data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $310.74.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $254.90, for a total value of $1,070,580.00. Following the completion of the transaction, the insider now owns 116,693 shares in the company, valued at approximately $29,745,045.70. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $229,434.66. Following the transaction, the chief financial officer now owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $254.90, for a total value of $1,070,580.00. Following the completion of the transaction, the insider now owns 116,693 shares in the company, valued at $29,745,045.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,185 shares of company stock valued at $18,773,713. 3.20% of the stock is currently owned by corporate insiders.

About Salesforce

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.