Banque Cantonale Vaudoise Sells 9,631 Shares of Salesforce, Inc. (NYSE:CRM)

Banque Cantonale Vaudoise decreased its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 16.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,742 shares of the CRM provider's stock after selling 9,631 shares during the period. Salesforce accounts for approximately 0.6% of Banque Cantonale Vaudoise's portfolio, making the stock its 26th biggest position. Banque Cantonale Vaudoise's holdings in Salesforce were worth $13,341,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CRM. Piscataqua Savings Bank lifted its position in shares of Salesforce by 2,400.0% during the 2nd 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 last quarter. Clear Investment Research LLC boosted its holdings in shares of Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider's stock worth $28,000 after acquiring an additional 98 shares in the last quarter. Stephens Consulting LLC boosted its holdings in shares of Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider's stock worth $33,000 after acquiring an additional 125 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce in the 2nd quarter worth approximately $33,000. Finally, Godsey & Gibb Inc. boosted its holdings in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider's stock worth $33,000 after acquiring an additional 90 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Stock Performance

Shares of CRM traded up $1.18 during mid-day trading on Tuesday, hitting $323.43. 5,467,584 shares of the company's stock were exchanged, compared to its average volume of 6,306,689. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $348.86. The stock's 50-day simple moving average is $288.14 and its 200-day simple moving average is $266.96. The firm has a market cap of $309.20 billion, a price-to-earnings ratio of 56.09, a price-to-earnings-growth ratio of 2.94 and a beta of 1.29. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM - Get Free Report) 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. The business had revenue of $9.33 billion for the quarter, compared to analysts' expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm's quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the firm posted $1.63 earnings per share. On average, equities research analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce's payout ratio is presently 27.83%.

Insider Activity

In other news, Director Maynard G. Webb, Jr. sold 9,170 shares of the company'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 transaction, the director now directly owns 1,363 shares of the company's stock, valued at $376,624.16. This represents a 87.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Brian Millham sold 60,522 shares of the company's stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The disclosure for this sale can be found here. Insiders sold 140,173 shares of company stock valued at $40,146,206 in the last three months. Company insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. BMO Capital Markets increased their price target on Salesforce from $305.00 to $385.00 and gave the company an "outperform" rating in a research note on Friday. Cfra set a $343.00 price target on Salesforce in a research note on Thursday, October 17th. Citigroup increased their price target on Salesforce from $260.00 to $290.00 and gave the company a "neutral" rating in a research note on Monday, August 26th. Evercore ISI reissued an "outperform" rating and issued a $300.00 price target on shares of Salesforce in a research note on Monday, August 26th. Finally, Sanford C. Bernstein increased their price target on Salesforce from $234.00 to $236.00 and gave the company an "outperform" rating in a research note on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $325.36.

Salesforce Company 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.