AMG National Trust Bank Sells 344 Shares of Salesforce, Inc. (NYSE:CRM)

AMG National Trust Bank lowered its position in Salesforce, Inc. (NYSE:CRM) by 4.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,325 shares of the CRM provider’s stock after selling 344 shares during the period. AMG National Trust Bank’s holdings in Salesforce were worth $2,279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Prime Capital Investment Advisors LLC grew its position in Salesforce by 13.6% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after acquiring an additional 6,938 shares during the last quarter. AIA Group Ltd boosted its stake in shares of Salesforce by 8.9% during the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after purchasing an additional 1,962 shares during the period. Aljian Capital Management LLC grew its holdings in shares of Salesforce by 16.1% in the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after purchasing an additional 1,834 shares during the last quarter. Harvest Portfolios Group Inc. increased its stake in Salesforce by 13.6% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 89,098 shares of the CRM provider’s stock worth $24,387,000 after buying an additional 10,656 shares during the period. Finally, XN LP lifted its holdings in Salesforce by 24.2% during the 2nd quarter. XN LP now owns 464,489 shares of the CRM provider’s stock valued at $119,420,000 after buying an additional 90,616 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other Salesforce news, COO Brian Millham sold 60,522 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the sale, the chief financial officer now owns 52,930 shares in the company, valued at $15,100,399.70. This trade represents a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 140,173 shares of company stock worth $40,146,206 in the last three months. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of research analyst reports. Canaccord Genuity Group upped their target price on shares of Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Erste Group Bank restated a “hold” rating on shares of Salesforce in a report on Wednesday, September 11th. JMP Securities reaffirmed a “market outperform” rating and set a $342.00 target price on shares of Salesforce in a research report on Wednesday, August 28th. FBN Securities raised Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Bank of America lifted their price objective on Salesforce from $325.00 to $390.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Nine analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $325.36.

Salesforce Trading Down 0.9 %

NYSE CRM opened at $322.25 on Tuesday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $348.86. 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 $308.07 billion, a PE ratio of 56.04, a P/E/G ratio of 2.94 and a beta of 1.29. The company has a fifty day moving average of $288.14 and a 200 day moving average of $266.96.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. The business 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.63 EPS. Research analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 27.83%.

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.