Salesforce, Inc. (NYSE:CRM) Shares Sold by Buckingham Capital Management Inc.

Buckingham Capital Management Inc. lowered its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,262 shares of the CRM provider’s stock after selling 281 shares during the period. Salesforce accounts for 1.5% of Buckingham Capital Management Inc.’s investment portfolio, making the stock its 23rd largest holding. Buckingham Capital Management Inc.’s holdings in Salesforce were worth $12,936,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Capital Research Global Investors grew its position in Salesforce by 26.9% in the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after buying an additional 3,044,611 shares during the last quarter. GQG Partners LLC purchased a new position in Salesforce during the first quarter worth about $910,220,000. Swedbank AB acquired a new stake in Salesforce in the first quarter valued at about $874,748,000. Veritas Asset Management LLP acquired a new stake in shares of Salesforce in the 3rd quarter valued at approximately $733,805,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Salesforce by 48.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock valued at $1,518,658,000 after buying an additional 1,922,674 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

CRM stock opened at $333.97 on Monday. The stock’s 50 day simple moving average is $277.76 and its 200 day simple moving average is $264.35. Salesforce, Inc. has a 12-month low of $211.76 and a 12-month high of $334.83. The firm has a market cap of $319.28 billion, a P/E ratio of 56.83, a P/E/G ratio of 2.78 and a beta of 1.29. 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 posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating 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 business had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same period in the previous year, the business posted $1.63 EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, equities research analysts predict that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

Analyst Ratings Changes

Several brokerages have weighed in on CRM. Needham & Company LLC restated a “buy” rating and set a $345.00 target price on shares of Salesforce in a research report on Friday, September 20th. Wells Fargo & Company upped their target price on Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, August 29th. Morgan Stanley lifted their target price on shares of Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Sanford C. Bernstein increased their price target on shares of Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, Stifel Nicolaus upped their price objective on Salesforce from $320.00 to $350.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $314.80.

Insider Buying and Selling at Salesforce

In related news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $255,905.13. Following the sale, the chief financial officer now directly owns 52,930 shares in the company, valued at $15,100,399.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $255,905.13. Following the sale, the chief financial officer now directly owns 52,930 shares of the company’s stock, valued at $15,100,399.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $254.57, for a total value of $1,069,194.00. Following the transaction, the insider now owns 117,581 shares in the company, valued at $29,932,595.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 148,573 shares of company stock worth $42,319,874. 3.20% of the stock is owned by company insiders.

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.