Country Club Bank Sells 163 Shares of Salesforce, Inc. (NYSE:CRM)

Country Club Bank cut its stake in Salesforce, Inc. (NYSE:CRM) by 3.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,615 shares of the CRM provider’s stock after selling 163 shares during the quarter. Country Club Bank’s holdings in Salesforce were worth $1,549,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Czech National Bank grew its position in shares of Salesforce by 6.7% in the 3rd quarter. Czech National Bank now owns 197,395 shares of the CRM provider’s stock valued at $54,029,000 after purchasing an additional 12,314 shares during the period. RBA Wealth Management LLC boosted its holdings in shares of Salesforce by 3.7% in the third quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock valued at $4,426,000 after buying an additional 574 shares during the period. Axiom Advisory LLC increased its position in shares of Salesforce by 1.6% during the third quarter. Axiom Advisory LLC now owns 6,272 shares of the CRM provider’s stock worth $1,608,000 after acquiring an additional 96 shares in the last quarter. Dynamic Advisor Solutions LLC raised its holdings in shares of Salesforce by 1.5% during the third quarter. Dynamic Advisor Solutions LLC now owns 21,861 shares of the CRM provider’s stock worth $5,984,000 after acquiring an additional 313 shares during the period. Finally, Trust Co of Kansas lifted its position in Salesforce by 0.9% in the 3rd quarter. Trust Co of Kansas now owns 21,790 shares of the CRM provider’s stock valued at $5,964,000 after acquiring an additional 191 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on CRM shares. Bank of America lifted their price target on Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Stifel Nicolaus lifted their target price on Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Barclays upped their price target on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective on the stock in a report on Friday, December 13th. Finally, Robert W. Baird increased their target price on shares of Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $377.63.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. This represents a 5.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the transaction, the chief financial officer now owns 45,861 shares in the company, valued at approximately $15,128,626.68. This represents a 11.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,111,420 shares of company stock worth $384,366,700 over the last three months. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Salesforce stock opened at $347.41 on Thursday. The stock’s fifty day moving average price is $338.69 and its two-hundred day moving average price is $299.31. The firm has a market cap of $332.47 billion, a PE ratio of 57.14, a price-to-earnings-growth ratio of 3.09 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $1.62 EPS. As a group, research analysts expect that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.46%. Salesforce’s dividend payout ratio (DPR) is 26.32%.

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.