Missouri Trust & Investment Co Boosts Position in Salesforce, Inc. (NYSE:CRM)

Missouri Trust & Investment Co lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 8.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,276 shares of the CRM provider’s stock after acquiring an additional 739 shares during the quarter. Salesforce makes up approximately 0.9% of Missouri Trust & Investment Co’s holdings, making the stock its 18th biggest holding. Missouri Trust & Investment Co’s holdings in Salesforce were worth $2,539,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of CRM. Piscataqua Savings Bank boosted its position in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. Clear Investment Research LLC raised its stake in shares of Salesforce by 816.7% during the 2nd 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 during the last quarter. Godsey & Gibb Inc. lifted its holdings in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Salesforce in the second quarter worth about $33,000. Finally, Stephens Consulting LLC grew its holdings in 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. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

CRM stock traded up $2.59 on Tuesday, reaching $344.32. The company’s stock had a trading volume of 2,197,393 shares, compared to its average volume of 6,282,608. The firm has a fifty day moving average of $279.53 and a two-hundred day moving average of $264.83. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $329.17 billion, a P/E ratio of 60.00, a price-to-earnings-growth ratio of 2.91 and a beta of 1.29. Salesforce, Inc. has a 52 week low of $211.76 and a 52 week high of $348.86.

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, beating analysts’ consensus estimates of $2.36 by $0.20. The business 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 company’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.63 earnings per share. As a group, analysts predict that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors 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 yield of 0.46%. Salesforce’s payout ratio is 27.83%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Raymond James raised their price target on shares of Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Bank of America reissued a “buy” rating and issued a $325.00 price target on shares of Salesforce in a research note on Friday, September 6th. Needham & Company LLC restated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a report on Friday, September 20th. Finally, DA Davidson upped their price objective on shares of Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $316.37.

Insiders Place Their Bets

In other news, insider Parker Harris sold 3,970 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the completion of the sale, the insider now owns 119,402 shares in the company, valued at approximately $35,431,349.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Miguel Milano sold 2,934 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $262.95, for a total transaction of $771,495.30. Following the transaction, the insider now owns 3,716 shares of the company’s stock, valued at approximately $977,122.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Parker Harris sold 3,970 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total value of $1,178,057.80. Following the completion of the transaction, the insider now directly owns 119,402 shares in the company, valued at $35,431,349.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 144,373 shares of company stock worth $41,250,680 over the last ninety days. Company insiders own 3.20% of the company’s stock.

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.