Salesforce, Inc. (NYSE:CRM) Shares Purchased by Centaurus Financial Inc.

Centaurus Financial Inc. boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 23.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,464 shares of the CRM provider’s stock after buying an additional 2,365 shares during the period. Centaurus Financial Inc.’s holdings in Salesforce were worth $3,204,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Ruedi Wealth Management Inc. boosted its position in shares of Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 56 shares during the last quarter. Piscataqua Savings Bank raised its stake in Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares during the period. Clear Investment Research LLC boosted its holdings in Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares during the last quarter. Red Tortoise LLC purchased a new stake in shares of Salesforce in the 1st quarter valued at approximately $33,000. Finally, Stephens Consulting LLC increased its holdings in shares of Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after buying an additional 125 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Salesforce news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $271.75, for a total transaction of $1,141,350.00. Following the transaction, the insider now owns 118,514 shares of the company’s stock, valued at $32,206,179.50. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the sale, the chief accounting officer now owns 6,431 shares in the company, valued at $1,644,921.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $271.75, for a total value of $1,141,350.00. Following the transaction, the insider now directly owns 118,514 shares in the company, valued at approximately $32,206,179.50. The disclosure for this sale can be found here. In the last three months, insiders sold 72,185 shares of company stock valued at $18,773,713. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the subject of several analyst reports. Sanford C. Bernstein increased their price objective on Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Raymond James increased their price target on Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Citigroup boosted their price objective on shares of Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a report on Monday, August 26th. JPMorgan Chase & Co. increased their target price on shares of Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Finally, Robert W. Baird lifted their price target on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $310.74.

Salesforce Stock Performance

Shares of CRM opened at $279.48 on Thursday. The company has a market capitalization of $270.82 billion, a price-to-earnings ratio of 50.27, a price-to-earnings-growth ratio of 2.39 and a beta of 1.30. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average price of $257.54 and a 200 day moving average price of $264.75.

Salesforce (NYSE:CRM) last issued 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 during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the prior year, the business posted $1.63 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. Research analysts predict that Salesforce, Inc. will post 7.54 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders 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 dividend yield of 0.57%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is currently 28.78%.

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.