W.G. Shaheen & Associates DBA Whitney & Co Has $8.75 Million Holdings in Salesforce, Inc. (NYSE:CRM)

W.G. Shaheen & Associates DBA Whitney & Co grew its holdings in Salesforce, Inc. (NYSE:CRM) by 0.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,022 shares of the CRM provider’s stock after buying an additional 125 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Salesforce were worth $8,747,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Signature Resources Capital Management LLC bought a new position in Salesforce during the fourth quarter worth $26,000. Ruedi Wealth Management Inc. grew its stake in Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after buying an additional 56 shares during the last quarter. Piscataqua Savings Bank raised its holdings in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the period. Red Tortoise LLC acquired a new stake in Salesforce during the first quarter worth approximately $33,000. Finally, Stephens Consulting LLC boosted its holdings in shares of Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 125 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Parker Harris sold 2,800 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $235.99, for a total transaction of $660,772.00. Following the completion of the sale, the insider now directly owns 115,762 shares of the company’s stock, valued at $27,318,674.38. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Parker Harris sold 2,800 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $235.99, for a total transaction of $660,772.00. Following the completion of the sale, the insider now owns 115,762 shares in the company, valued at $27,318,674.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the transaction, the chief accounting officer now owns 6,431 shares in the company, valued at $1,644,921.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 112,964 shares of company stock worth $27,956,647. Insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of CRM opened at $252.90 on Friday. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The company has a market cap of $245.06 billion, a PE ratio of 45.49, a P/E/G ratio of 2.22 and a beta of 1.29. The stock has a 50-day moving average of $254.44 and a 200-day moving average of $271.20. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.63 earnings per share. On average, equities research analysts predict that Salesforce, Inc. will post 7.52 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $1.60 annualized dividend and a yield of 0.63%. Salesforce’s payout ratio is 28.78%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Sanford C. Bernstein increased their target price on Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday. JMP Securities reissued a “market outperform” rating and set a $342.00 target price on shares of Salesforce in a report on Wednesday. DA Davidson boosted their target price on shares of Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday. UBS Group raised their price target on shares of Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Roth Mkm reissued a “buy” rating and issued a $335.00 price objective on shares of Salesforce in a report on Thursday. Nine research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $302.00.

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.