Salesforce, Inc. (NYSE:CRM) Shares Sold by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH lowered its position in shares of Salesforce, Inc. (NYSE:CRM) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,572 shares of the CRM provider’s stock after selling 253 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Salesforce were worth $3,989,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Weybosset Research & Management LLC lifted its holdings in shares of Salesforce by 7.0% during the 3rd quarter. Weybosset Research & Management LLC now owns 1,075 shares of the CRM provider’s stock worth $294,000 after acquiring an additional 70 shares during the period. Abacus Planning Group Inc. grew its holdings in Salesforce by 28.6% in the third quarter. Abacus Planning Group Inc. now owns 1,044 shares of the CRM provider’s stock valued at $286,000 after purchasing an additional 232 shares during the period. Doliver Advisors LP increased its position in Salesforce by 5.0% during the third quarter. Doliver Advisors LP now owns 6,076 shares of the CRM provider’s stock worth $1,663,000 after purchasing an additional 288 shares during the last quarter. Park National Corp OH raised its stake in Salesforce by 7,453.1% during the third quarter. Park National Corp OH now owns 120,850 shares of the CRM provider’s stock worth $33,078,000 after purchasing an additional 119,250 shares during the period. Finally, Neville Rodie & Shaw Inc. boosted its holdings in shares of Salesforce by 0.4% in the 3rd quarter. Neville Rodie & Shaw Inc. now owns 51,151 shares of the CRM provider’s stock valued at $14,001,000 after purchasing an additional 210 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Price Performance

Shares of NYSE:CRM opened at $279.48 on Thursday. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. 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 has a market cap of $270.82 billion, a price-to-earnings ratio of 50.27, a PEG ratio of 2.39 and a beta of 1.30. The firm has a 50 day simple moving average of $257.54 and a 200 day simple moving average of $264.75.

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, topping the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the previous year, the business posted $1.63 earnings per share. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. Research analysts predict that Salesforce, Inc. will post 7.54 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 28.78%.

Insider Buying and Selling at Salesforce

In related news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $271.75, for a total transaction of $1,141,350.00. Following the completion of the transaction, the insider now owns 118,514 shares of the company’s stock, valued at $32,206,179.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Salesforce news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $271.75, for a total value of $1,141,350.00. Following the completion of the sale, the insider now directly owns 118,514 shares of the company’s stock, valued at $32,206,179.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider R David Schmaier sold 1,155 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $295,425.90. Following the transaction, the insider now directly owns 20,556 shares in the company, valued at $5,257,813.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,185 shares of company stock valued at $18,773,713. 3.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CRM. Evercore ISI restated an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a report on Monday, August 26th. Loop Capital restated a “hold” rating and set a $270.00 price target on shares of Salesforce in a research note on Thursday, September 19th. Citigroup lifted their price objective on Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Wedbush increased their target price on shares of Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. Finally, Morgan Stanley raised their price target on shares of Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $310.74.

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.