Salesforce, Inc. (NYSE:CRM) Shares Acquired by Northwest Bank & Trust Co

Northwest Bank & Trust Co raised its stake in Salesforce, Inc. (NYSE:CRM) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,594 shares of the CRM provider’s stock after purchasing an additional 44 shares during the quarter. Salesforce accounts for 1.2% of Northwest Bank & Trust Co’s investment portfolio, making the stock its 15th biggest holding. Northwest Bank & Trust Co’s holdings in Salesforce were worth $1,531,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of CRM. Ruedi Wealth Management Inc. raised its holdings in shares of Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 56 shares during the last quarter. Piscataqua Savings Bank boosted its holdings in Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. Clear Investment Research LLC raised its stake in Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after buying an additional 98 shares in the last quarter. Red Tortoise LLC acquired a new stake in Salesforce during the first quarter valued at approximately $33,000. Finally, Stephens Consulting LLC raised its stake in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after buying an additional 125 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Price Performance

NYSE:CRM traded down $1.02 during trading hours on Thursday, hitting $286.90. 1,121,126 shares of the stock traded hands, compared to its average volume of 6,491,521. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The company has a market cap of $278.01 billion, a price-to-earnings ratio of 51.65, a price-to-earnings-growth ratio of 2.39 and a beta of 1.30. The stock has a 50 day moving average price of $260.30 and a 200 day moving average price of $264.11.

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

Salesforce Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Oppenheimer raised their price objective on Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Raymond James increased their price objective on Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Finally, Northland Securities upgraded Salesforce from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $270.00 to $400.00 in a report on Wednesday, October 2nd. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.74.

Insider Buying and Selling

In other news, 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 transaction of $1,070,580.00. Following the completion of the transaction, the insider now directly owns 116,693 shares of the company’s stock, valued at $29,745,045.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $105,637.14. Following the sale, the chief accounting officer now directly owns 6,431 shares in the company, valued at $1,644,921.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $254.90, for a total transaction of $1,070,580.00. Following the sale, the insider now owns 116,693 shares in the company, valued at $29,745,045.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 80,612 shares of company stock worth $21,283,087. 3.20% of the stock is owned by company 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.