Field & Main Bank Sells 72 Shares of Salesforce, Inc. (NYSE:CRM)

Field & Main Bank decreased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 0.9% in the third quarter, Holdings Channel.com reports. The fund owned 7,775 shares of the CRM provider’s stock after selling 72 shares during the period. Field & Main Bank’s holdings in Salesforce were worth $2,128,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Umpqua Bank boosted its position in shares of Salesforce by 0.4% during the third quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after acquiring an additional 34 shares during the last quarter. Nvwm LLC boosted its position in shares of Salesforce by 1.4% during the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock worth $667,000 after acquiring an additional 36 shares during the last quarter. Prentice Wealth Management LLC lifted its position in Salesforce by 1.5% during the third quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock valued at $686,000 after purchasing an additional 37 shares during the last quarter. Private Wealth Management Group LLC lifted its position in Salesforce by 11.6% during the third quarter. Private Wealth Management Group LLC now owns 357 shares of the CRM provider’s stock valued at $98,000 after purchasing an additional 37 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. lifted its position in Salesforce by 0.8% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock valued at $1,490,000 after purchasing an additional 38 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CRM shares. Northland Securities upgraded shares of Salesforce from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $270.00 to $400.00 in a research report on Wednesday, October 2nd. TD Cowen increased their price objective on shares of Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Wells Fargo & Company increased their price objective on shares of Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, August 29th. Morgan Stanley increased their price objective on shares of Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Finally, Cfra set a $343.00 price objective on shares of Salesforce in a research report on Thursday, October 17th. Nine analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $313.37.

Salesforce Trading Up 3.6 %

NYSE CRM opened at $321.95 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $307.78 billion, a price-to-earnings ratio of 55.99, a price-to-earnings-growth ratio of 2.78 and a beta of 1.29. The company’s 50-day simple moving average is $277.76 and its two-hundred day simple moving average is $264.52. Salesforce, Inc. has a one year low of $208.84 and a one year high of $322.81.

Salesforce (NYSE:CRM) last released its quarterly earnings results 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. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period last year, the business earned $1.63 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. Equities analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

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

Insider Activity

In other news, CAO Sundeep G. Reddy sold 413 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 $117,824.77. Following the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Sundeep G. Reddy sold 413 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 $117,824.77. Following the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Brian Millham sold 60,522 shares of Salesforce stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 148,573 shares of company stock worth $42,319,874. Corporate 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.