Ayrshire Capital Management LLC Raises Holdings in Salesforce, Inc. (NYSE:CRM)

Ayrshire Capital Management LLC boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,955 shares of the CRM provider’s stock after buying an additional 107 shares during the quarter. Ayrshire Capital Management LLC’s holdings in Salesforce were worth $1,356,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Ruedi Wealth Management Inc. increased its holdings in Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after buying an additional 56 shares during the period. Piscataqua Savings Bank increased its holdings in Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after buying an additional 96 shares during the period. Clear Investment Research LLC grew its holdings in Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the last quarter. Red Tortoise LLC purchased a new position in Salesforce in the first quarter worth $33,000. Finally, Stephens Consulting LLC grew its holdings in Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 125 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Price Performance

Shares of CRM stock opened at $288.10 on Friday. The company has a market capitalization of $275.42 billion, a PE ratio of 50.10, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. The firm has a fifty day simple moving average of $261.93 and a 200-day simple moving average of $263.88. 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, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share 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 the consensus estimate of $9.22 billion. During the same period in the prior year, the firm earned $1.63 earnings per share. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. Equities research analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.56%. Salesforce’s dividend payout ratio (DPR) is 27.83%.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $254.90, for a total transaction of $1,070,580.00. Following the transaction, the insider now directly owns 116,693 shares in the company, valued at $29,745,045.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO Brian Millham sold 8,427 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $280.00, for a total value of $2,359,560.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $254.90, for a total transaction of $1,070,580.00. Following the completion of the transaction, the insider now owns 116,693 shares in the company, valued at approximately $29,745,045.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 80,612 shares of company stock worth $21,283,087 in the last ninety days. 3.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on CRM shares. Wells Fargo & Company lifted their price target on shares of Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, August 29th. JMP Securities reaffirmed a “market outperform” rating and issued a $342.00 price target on shares of Salesforce in a report on Wednesday, August 28th. Northland Capmk raised shares of Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Canaccord Genuity Group lifted their price target on shares of Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Sanford C. Bernstein lifted their price target on shares of Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $310.74.

About Salesforce

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.