Telos Capital Management Inc. Has $523,000 Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Telos Capital Management Inc. trimmed its position in shares of Salesforce, Inc. (NYSE:CRM) by 10.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,911 shares of the CRM provider’s stock after selling 229 shares during the quarter. Telos Capital Management Inc.’s holdings in Salesforce were worth $523,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Salesforce by 1.2% in the first quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock worth $25,490,446,000 after acquiring an additional 1,008,841 shares during the period. Capital Research Global Investors lifted its stake in shares of Salesforce by 26.9% in the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after acquiring an additional 3,044,611 shares during the period. Capital International Investors lifted its stake in shares of Salesforce by 3.0% in the first quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock worth $4,251,592,000 after acquiring an additional 407,834 shares during the period. Legal & General Group Plc lifted its stake in shares of Salesforce by 2.2% in the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after acquiring an additional 176,641 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in Salesforce by 48.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after purchasing an additional 1,922,674 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of research analyst reports. BMO Capital Markets lifted their target price on Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Raymond James lifted their target price on Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Needham & Company LLC reiterated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a report on Friday, September 20th. Cfra set a $343.00 target price on Salesforce in a report on Thursday, October 17th. Finally, Bank of America reiterated a “buy” rating and issued a $325.00 target price on shares of Salesforce in a report on Friday, September 6th. Nine 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $311.66.

Salesforce Stock Down 1.0 %

Shares of NYSE CRM opened at $288.24 on Wednesday. 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 business’s fifty day moving average price is $268.12 and its 200-day moving average price is $263.09. The stock has a market capitalization of $279.30 billion, a PE ratio of 51.84, a P/E/G ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm 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 firm earned $1.63 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.56%. 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 business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the sale, the director now directly owns 1,363 shares in the company, valued at approximately $376,624.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Maynard G. Webb, Jr. sold 9,170 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the sale, the director now directly owns 1,363 shares in the company, valued at approximately $376,624.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sabastian Niles sold 2,484 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total value of $608,108.04. Following the sale, the insider now owns 828 shares in the company, valued at approximately $202,702.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,502 shares of company stock worth $23,045,186. 3.20% of the stock is owned by company insiders.

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.