Salesforce, Inc. (NYSE:CRM) is EDENTREE ASSET MANAGEMENT Ltd’s 4th Largest Position

EDENTREE ASSET MANAGEMENT Ltd increased its holdings in Salesforce, Inc. (NYSE:CRM) by 31.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,205 shares of the CRM provider’s stock after purchasing an additional 13,010 shares during the quarter. Salesforce accounts for 4.4% of EDENTREE ASSET MANAGEMENT Ltd’s investment portfolio, making the stock its 4th biggest position. EDENTREE ASSET MANAGEMENT Ltd’s holdings in Salesforce were worth $13,936,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CRM. Fox Hill Wealth Management lifted its stake in shares of Salesforce by 4.0% in the 1st quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock valued at $297,000 after acquiring an additional 38 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Salesforce by 0.8% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after purchasing an additional 38 shares during the last quarter. Blue Barn Wealth LLC raised its holdings in Salesforce by 1.8% during the 1st quarter. Blue Barn Wealth LLC now owns 2,207 shares of the CRM provider’s stock valued at $665,000 after buying an additional 39 shares during the last quarter. Catalyst Financial Partners LLC boosted its position in Salesforce by 0.8% during the 2nd quarter. Catalyst Financial Partners LLC now owns 4,876 shares of the CRM provider’s stock valued at $1,254,000 after buying an additional 39 shares during the period. Finally, Pine Haven Investment Counsel Inc grew its holdings in Salesforce by 1.8% in the 1st quarter. Pine Haven Investment Counsel Inc now owns 2,279 shares of the CRM provider’s stock worth $686,000 after acquiring an additional 40 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Trading Up 1.3 %

Shares of NYSE:CRM opened at $274.09 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The company has a market cap of $262.03 billion, a P/E ratio of 49.30, a PEG ratio of 2.39 and a beta of 1.29. The stock’s fifty day moving average price is $254.66 and its 200-day moving average price is $265.66.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the prior year, the business earned $1.63 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Sell-side analysts expect that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Dividend Announcement

The business 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 $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Analyst Ratings Changes

CRM has been the subject of a number of analyst reports. Loop Capital reiterated a “hold” rating and set a $270.00 target price on shares of Salesforce in a report on Thursday, September 19th. Macquarie cut their price objective on Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a research report on Friday, May 31st. Citigroup upped their target price on Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a report on Monday, August 26th. FBN Securities upgraded shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Finally, Oppenheimer upped their price objective on shares of Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $307.73.

Insider Buying and Selling at Salesforce

In other news, COO Brian Millham sold 2,018 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $260.00, for a total value of $524,680.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $252.75, for a total value of $1,061,550.00. Following the transaction, the insider now owns 116,693 shares of the company’s stock, valued at $29,494,155.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Brian Millham sold 2,018 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $260.00, for a total transaction of $524,680.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,033 shares of company stock worth $16,699,397. 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.