Salesforce, Inc. (NYSE:CRM) Holdings Reduced by Processus Wealth & Capital Management LLC

Processus Wealth & Capital Management LLC lowered its position in Salesforce, Inc. (NYSE:CRM) by 5.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 9,900 shares of the CRM provider’s stock after selling 534 shares during the quarter. Salesforce accounts for about 2.2% of Processus Wealth & Capital Management LLC’s investment portfolio, making the stock its 21st biggest position. Processus Wealth & Capital Management LLC’s holdings in Salesforce were worth $2,710,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CRM. AIA Group Ltd increased its stake in shares of Salesforce by 8.9% during the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after acquiring an additional 1,962 shares during the period. XN LP boosted its stake in Salesforce by 24.2% during the 2nd quarter. XN LP now owns 464,489 shares of the CRM provider’s stock valued at $119,420,000 after purchasing an additional 90,616 shares in the last quarter. Atomi Financial Group Inc. increased its position in shares of Salesforce by 27.5% during the 3rd quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock valued at $3,284,000 after purchasing an additional 2,589 shares during the period. Harvest Portfolios Group Inc. raised its stake in shares of Salesforce by 13.6% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 89,098 shares of the CRM provider’s stock worth $24,387,000 after buying an additional 10,656 shares in the last quarter. Finally, M&G Plc bought a new stake in Salesforce in the first quarter worth about $2,178,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the sale, the chief financial officer now owns 52,930 shares in the company, valued at approximately $15,100,399.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Amy E. Weaver sold 897 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the sale, the chief financial officer now directly owns 52,930 shares in the company, valued at $15,100,399.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $262.97, for a total value of $1,104,474.00. Following the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at $30,920,275.57. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 148,573 shares of company stock worth $42,319,874 over the last three months. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Up 3.6 %

Shares of Salesforce stock opened at $321.87 on Friday. Salesforce, Inc. has a 52-week low of $208.84 and a 52-week high of $322.81. The firm has a market capitalization of $307.71 billion, a PE ratio of 55.98, a price-to-earnings-growth ratio of 2.70 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The company’s fifty day moving average price is $277.76 and its two-hundred day moving average price is $264.52.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.63 earnings per share. On average, 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. Investors of record on Wednesday, September 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is 27.83%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CRM shares. Morgan Stanley boosted their target price on Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Robert W. Baird raised their price objective on shares of Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Citigroup boosted their price target on Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. TD Cowen raised 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. Finally, Evercore ISI reiterated an “outperform” rating and issued a $300.00 price objective on shares of Salesforce in a report on Monday, August 26th. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $313.37.

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.