UMB Bank n.a. Sells 1,015 Shares of Salesforce, Inc. (NYSE:CRM)

UMB Bank n.a. lowered its holdings in Salesforce, Inc. (NYSE:CRM) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 88,411 shares of the CRM provider’s stock after selling 1,015 shares during the quarter. UMB Bank n.a.’s holdings in Salesforce were worth $24,199,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in CRM. Ruedi Wealth Management Inc. boosted its holdings in Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 56 shares in the last quarter. Piscataqua Savings Bank boosted its stake in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. Red Tortoise LLC purchased a new position in shares of Salesforce during the first quarter valued at about $33,000. Clear Investment Research LLC raised its stake in Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after buying an additional 98 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Salesforce in the second quarter worth about $33,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Maynard G. Webb, Jr. sold 9,170 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the sale, the director now owns 1,363 shares in the company, valued at approximately $376,624.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Maynard G. Webb, Jr. sold 9,170 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the transaction, the director now directly owns 1,363 shares in the company, valued at approximately $376,624.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 80,612 shares of company stock valued at $21,283,087 in the last ninety days. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the subject of several research reports. Raymond James increased their target price on Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” 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. Bank of America reissued a “buy” rating and set a $325.00 price objective on shares of Salesforce in a research report on Friday, September 6th. Northland Capmk raised shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Evercore ISI reissued an “outperform” rating and set a $300.00 price target on shares of Salesforce in a research report on Monday, August 26th. Eight research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $310.74.

Salesforce Stock Performance

CRM stock traded down $1.15 during trading on Thursday, reaching $286.77. The stock had a trading volume of 831,602 shares, compared to its average volume of 6,490,043. The firm has a market cap of $277.88 billion, a PE ratio of 51.65, a PEG ratio of 2.39 and a beta of 1.30. 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 stock’s 50 day moving average is $260.30 and its two-hundred day moving average is $264.11. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71.

Salesforce (NYSE:CRM) last issued its quarterly earnings data 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. The firm had revenue of $9.33 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.63 EPS. As a group, equities analysts anticipate that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.56%. Salesforce’s dividend payout ratio is currently 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.