Copley Financial Group Inc. Makes New Investment in Salesforce, Inc. (NYSE:CRM)

Copley Financial Group Inc. bought a new position in Salesforce, Inc. (NYSE:CRM - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,693 shares of the CRM provider's stock, valued at approximately $463,000.

A number of other institutional investors have also recently made changes to their positions in CRM. Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce in the third quarter worth approximately $27,000. Clear Investment Research LLC lifted its position in Salesforce by 816.7% during the second 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 in the last quarter. Stephens Consulting LLC grew its holdings in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider's stock valued at $33,000 after purchasing an additional 125 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in Salesforce in the second quarter worth about $33,000. Finally, Godsey & Gibb Inc. raised its stake in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider's stock worth $33,000 after buying an additional 90 shares during the period. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insider Activity

In related news, CFO Amy E. Weaver sold 897 shares of the firm's stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the completion of the transaction, the chief financial officer now directly owns 52,930 shares in the company, valued at $15,100,399.70. This trade represents a 1.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the transaction, the chief accounting officer now owns 7,006 shares of the company's stock, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 138,498 shares of company stock valued at $40,983,349 in the last quarter. 3.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CRM shares. Royal Bank of Canada increased their price target on Salesforce from $300.00 to $420.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Cfra set a $343.00 price objective on shares of Salesforce in a report on Thursday, October 17th. Raymond James lifted their price objective on shares of Salesforce from $325.00 to $350.00 and gave the company a "strong-buy" rating in a research report on Thursday, August 29th. TD Cowen upped their target price on shares of Salesforce from $290.00 to $340.00 and gave the stock a "hold" rating in a research report on Thursday, November 21st. Finally, Wedbush increased their target price on Salesforce from $325.00 to $375.00 and gave the company an "outperform" rating in a research report on Monday, November 25th. Eight research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Salesforce presently has an average rating of "Moderate Buy" and an average price target of $377.24.

Salesforce Price Performance

Shares of NYSE CRM traded down $3.73 during mid-day trading on Friday, hitting $354.30. 5,536,744 shares of the company's stock traded hands, compared to its average volume of 6,407,457. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company's 50-day moving average is $316.14 and its two-hundred day moving average is $275.00. The company has a market capitalization of $339.07 billion, a P/E ratio of 58.27, a PEG ratio of 3.21 and a beta of 1.30.

Salesforce (NYSE:CRM - Get Free Report) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts' consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion for the quarter, compared to analysts' expectations of $9.35 billion. During the same period last year, the business posted $1.62 EPS. The company's revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Wednesday, December 18th. Salesforce's dividend payout ratio (DPR) is currently 26.32%.

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.