Intellectus Partners LLC Has $351,000 Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Intellectus Partners LLC reduced its stake in Salesforce, Inc. (NYSE:CRM) by 74.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,281 shares of the CRM provider’s stock after selling 3,814 shares during the quarter. Intellectus Partners LLC’s holdings in Salesforce were worth $351,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CRM. Piscataqua Savings Bank boosted its stake in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. Clear Investment Research LLC lifted 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 valued at $28,000 after buying an additional 98 shares during the period. Godsey & Gibb Inc. grew its holdings in Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 90 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce in the 2nd quarter worth about $33,000. Finally, Stephens Consulting LLC lifted its stake in shares of Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CRM. UBS Group raised their target price on Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. TD Cowen lifted their price objective on shares of Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Northland Securities upgraded shares of Salesforce from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $270.00 to $400.00 in a research report on Wednesday, October 2nd. Needham & Company LLC restated a “buy” rating and issued a $345.00 price target on shares of Salesforce in a report on Friday, September 20th. Finally, Canaccord Genuity Group upped their price objective on shares of Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Nine 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 stock. According to data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $322.51.

Salesforce Stock Down 1.9 %

CRM stock opened at $325.28 on Friday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $348.86. The stock has a market cap of $310.96 billion, a P/E ratio of 56.57, a P/E/G ratio of 3.09 and a beta of 1.29. The stock’s fifty day simple moving average is $284.99 and its two-hundred day simple moving average is $266.30. 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 (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping 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 company had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the previous year, the firm earned $1.63 EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. Analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. Salesforce’s payout ratio is currently 27.83%.

Insider Activity at Salesforce

In other news, insider Miguel Milano sold 2,934 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $262.95, for a total value of $771,495.30. Following the sale, the insider now owns 3,716 shares of the company’s stock, valued at $977,122.20. The trade was a 44.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Sabastian Niles sold 2,484 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total transaction of $608,108.04. Following the sale, the insider now owns 828 shares in the company, valued at $202,702.68. The trade was a 75.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 144,373 shares of company stock worth $41,250,680. Insiders own 3.20% of the company’s stock.

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.