Salesforce, Inc. (NYSE:CRM) Stock Holdings Increased by Beese Fulmer Investment Management Inc.

Beese Fulmer Investment Management Inc. increased its holdings in Salesforce, Inc. (NYSE:CRM) by 0.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,245 shares of the CRM provider’s stock after purchasing an additional 600 shares during the quarter. Salesforce accounts for 1.5% of Beese Fulmer Investment Management Inc.’s holdings, making the stock its 20th biggest position. Beese Fulmer Investment Management Inc.’s holdings in Salesforce were worth $17,585,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. XN LP raised its holdings in shares of Salesforce by 24.2% in the 2nd quarter. XN LP now owns 464,489 shares of the CRM provider’s stock worth $119,420,000 after purchasing an additional 90,616 shares in the last quarter. Atomi Financial Group Inc. raised its holdings in shares of Salesforce by 27.5% in the 3rd quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock worth $3,284,000 after purchasing an additional 2,589 shares in the last quarter. M&G Plc bought a new stake in shares of Salesforce in the 1st quarter worth approximately $2,178,000. First Foundation Advisors raised its holdings in shares of Salesforce by 38.0% during the first quarter. First Foundation Advisors now owns 828 shares of the CRM provider’s stock valued at $249,000 after acquiring an additional 228 shares during the period. Finally, Tobam raised its holdings in shares of Salesforce by 7.3% during the first quarter. Tobam now owns 1,769 shares of the CRM provider’s stock valued at $533,000 after acquiring an additional 120 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Oppenheimer lifted their price target on Salesforce from $280.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Cfra set a $343.00 price objective on Salesforce in a research note on Thursday, October 17th. TD Cowen lifted their target price on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Finally, Canaccord Genuity Group increased their price target on shares of Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $311.66.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the transaction, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Amy E. Weaver sold 897 shares of the company’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 of the company’s stock, valued at $15,100,399.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,812 shares of company stock valued at $23,418,916. Insiders own 3.20% of the company’s stock.

Salesforce Stock Down 1.4 %

Salesforce stock opened at $284.37 on Thursday. The firm has a market cap of $275.55 billion, a price-to-earnings ratio of 51.15, a P/E/G ratio of 2.61 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The firm has a fifty day moving average price of $268.70 and a two-hundred day moving average price of $263.24.

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 business had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.63 earnings per share. As a group, analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

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

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.