Country Club Bank Has $1.32 Million Stake in Salesforce, Inc. (NYSE:CRM)

Country Club Bank decreased its holdings in Salesforce, Inc. (NYSE:CRM) by 5.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 4,778 shares of the CRM provider’s stock after selling 264 shares during the period. Country Club Bank’s holdings in Salesforce were worth $1,322,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of CRM. Prentice Wealth Management LLC lifted its holdings in Salesforce by 1.5% during the third quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock valued at $686,000 after purchasing an additional 37 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its holdings in Salesforce by 0.8% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock valued at $1,490,000 after purchasing an additional 38 shares during the last quarter. Fulton Bank N.A. lifted its holdings in Salesforce by 0.4% during the third quarter. Fulton Bank N.A. now owns 9,269 shares of the CRM provider’s stock valued at $2,537,000 after purchasing an additional 38 shares during the last quarter. CRA Financial Services LLC lifted its holdings in Salesforce by 3.4% during the third quarter. CRA Financial Services LLC now owns 1,160 shares of the CRM provider’s stock valued at $318,000 after purchasing an additional 38 shares during the last quarter. Finally, Boomfish Wealth Group LLC lifted its holdings in Salesforce by 0.4% during the third quarter. Boomfish Wealth Group LLC now owns 9,312 shares of the CRM provider’s stock valued at $2,549,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Up 1.3 %

Salesforce stock opened at $290.46 on Friday. The firm has a 50 day moving average of $269.73 and a 200 day moving average of $263.05. The firm has a market capitalization of $281.46 billion, a price-to-earnings ratio of 52.24, a P/E/G ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $9.22 billion. During the same period last year, the firm posted $1.63 EPS. The company’s revenue was up 8.5% on a year-over-year basis. As a group, research analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

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

Insider Buying and Selling at Salesforce

In other news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the transaction, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Brian Millham sold 969 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $286.56, for a total value of $277,676.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,781 shares of company stock valued at $23,696,593 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CRM shares. FBN Securities raised shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Roth Mkm reissued a “buy” rating and issued a $335.00 price target on shares of Salesforce in a report on Thursday, August 29th. Evercore ISI reissued an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a report on Monday, August 26th. Piper Sandler downgraded shares of Salesforce from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Cfra set a $343.00 price target on shares of Salesforce in a report on Thursday, October 17th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $312.51.

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.