Ferguson Wellman Capital Management Inc. Acquires 155 Shares of Salesforce, Inc. (NYSE:CRM)

Ferguson Wellman Capital Management Inc. increased its position in Salesforce, Inc. (NYSE:CRM) by 8.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,932 shares of the CRM provider’s stock after acquiring an additional 155 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Salesforce were worth $646,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRM. Compass Financial Services Inc purchased a new stake in Salesforce during the 4th quarter valued at approximately $30,000. Infrastructure Capital Advisors LLC bought a new stake in Salesforce in the third quarter worth $27,000. Godsey & Gibb Inc. lifted its position in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the last quarter. Annapolis Financial Services LLC lifted its position in Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after buying an additional 80 shares during the last quarter. Finally, Friedenthal Financial bought a new stake in Salesforce in the fourth quarter worth $55,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Up 0.3 %

Salesforce stock opened at $326.95 on Tuesday. The stock has a market capitalization of $312.89 billion, a PE ratio of 53.77, a price-to-earnings-growth ratio of 2.66 and a beta of 1.31. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The business has a 50 day simple moving average of $338.97 and a 200-day simple moving average of $301.03. 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 (NYSE:CRM) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the previous year, the firm posted $1.62 earnings per share. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CRM shares. Citigroup lifted their target price on Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Wells Fargo & Company boosted their price target on Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 12th. Scotiabank boosted their price target on Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 4th. Finally, Robert W. Baird lifted their target price on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

Insider Buying and Selling

In related news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the completion of the sale, the chief financial officer now directly owns 53,861 shares in the company, valued at approximately $18,474,323. The trade was a 10.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brian Millham sold 14,808 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $338.95, for a total value of $5,019,171.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,111,420 shares of company stock worth $384,366,700. 3.20% of the stock is owned by corporate insiders.

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.