Enterprise Bank & Trust Co Has $3.10 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Enterprise Bank & Trust Co lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 0.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,332 shares of the CRM provider’s stock after purchasing an additional 44 shares during the quarter. Salesforce accounts for 1.0% of Enterprise Bank & Trust Co’s holdings, making the stock its 25th biggest holding. Enterprise Bank & Trust Co’s holdings in Salesforce were worth $3,102,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Capital Research Global Investors lifted its stake 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 purchasing an additional 3,044,611 shares during the last quarter. GQG Partners LLC bought a new stake in shares of Salesforce during the 1st quarter worth $910,220,000. Swedbank AB acquired a new stake in Salesforce in the first quarter valued at about $874,748,000. Coatue Management LLC bought a new position in Salesforce in the fourth quarter valued at about $564,188,000. Finally, Massachusetts Financial Services Co. MA raised its stake in Salesforce by 48.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after acquiring an additional 1,922,674 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In related news, insider Parker Harris sold 2,800 shares of Salesforce stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total value of $675,416.00. Following the completion of the sale, the insider now owns 117,581 shares of the company’s stock, valued at approximately $28,362,888.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Maynard G. Webb, Jr. sold 9,170 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $276.32, for a total value of $2,533,854.40. Following the transaction, the director now owns 1,363 shares of the company’s stock, valued at approximately $376,624.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total value of $675,416.00. Following the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at $28,362,888.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 80,612 shares of company stock valued at $21,283,087 over the last ninety days. 3.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Wedbush raised their price target on shares of Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. raised their target price on shares of Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Royal Bank of Canada reiterated an “outperform” rating and set a $300.00 price target on shares of Salesforce in a report on Thursday, September 19th. DA Davidson raised their price objective on Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, TD Cowen upped their target price on Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $310.74.

Salesforce Stock Down 1.3 %

Salesforce stock opened at $287.92 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $278.99 billion, a PE ratio of 51.78, a PEG ratio of 2.39 and a beta of 1.30. The firm’s fifty day moving average is $259.72 and its 200 day moving average is $263.94. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.63 earnings per share. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.54 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.56%. Salesforce’s dividend payout ratio is 28.78%.

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.