Community Financial Services Group LLC Sells 229 Shares of Salesforce, Inc. (NYSE:CRM)

Community Financial Services Group LLC cut its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,524 shares of the CRM provider’s stock after selling 229 shares during the period. Community Financial Services Group LLC’s holdings in Salesforce were worth $2,881,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Plimoth Trust Co. LLC raised its stake in shares of Salesforce by 0.8% in the 3rd quarter. Plimoth Trust Co. LLC now owns 23,014 shares of the CRM provider’s stock valued at $6,299,000 after purchasing an additional 172 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Salesforce by 0.9% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 47,699 shares of the CRM provider’s stock valued at $13,055,000 after purchasing an additional 410 shares during the period. Whittier Trust Co. raised its stake in shares of Salesforce by 0.7% in the 3rd quarter. Whittier Trust Co. now owns 108,057 shares of the CRM provider’s stock valued at $29,575,000 after purchasing an additional 758 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of Salesforce in the 3rd quarter valued at about $82,000. Finally, Little House Capital LLC raised its stake in shares of Salesforce by 11.7% in the 3rd quarter. Little House Capital LLC now owns 8,505 shares of the CRM provider’s stock valued at $2,328,000 after purchasing an additional 890 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CRM shares. BNP Paribas raised Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. BMO Capital Markets boosted their price target on Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Oppenheimer boosted their price target on Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. FBN Securities raised Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Stifel Nicolaus boosted their price target on Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $311.66.

Salesforce Stock Down 0.5 %

Shares of NYSE:CRM opened at $291.33 on Tuesday. The company has a fifty day moving average of $267.44 and a 200-day moving average of $263.18. The company has a market capitalization of $282.30 billion, a PE ratio of 52.40, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71.

Salesforce (NYSE:CRM) last announced 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 company had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.63 earnings per share. On average, equities analysts predict that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.55%. Salesforce’s payout ratio is 28.78%.

Insider Activity at Salesforce

In related news, Director Maynard G. Webb, Jr. sold 9,170 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total value of $2,533,854.40. Following the completion of the sale, the director now directly owns 1,363 shares in the company, valued at $376,624.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Salesforce news, Director Maynard G. Webb, Jr. sold 9,170 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the sale, the director now owns 1,363 shares of the company’s stock, valued at approximately $376,624.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $257.28, for a total transaction of $1,080,576.00. Following the sale, the insider now directly owns 117,581 shares in the company, valued at $30,251,239.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,110 shares of company stock worth $20,292,760 over the last three months. Company insiders own 3.20% of the company’s stock.

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.