Salesforce, Inc. (NYSE:CRM) Shares Acquired by Joseph Group Capital Management

Joseph Group Capital Management grew its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 35.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,696 shares of the CRM provider's stock after acquiring an additional 2,515 shares during the quarter. Salesforce comprises 1.0% of Joseph Group Capital Management's holdings, making the stock its 28th largest position. Joseph Group Capital Management's holdings in Salesforce were worth $2,654,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CRM. Capital Research Global Investors increased its holdings 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 valued at $4,329,925,000 after purchasing an additional 3,044,611 shares during the last quarter. Capital International Investors boosted its holdings in Salesforce by 3.0% in the first quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider's stock valued at $4,251,592,000 after purchasing an additional 407,834 shares during the period. Legal & General Group Plc boosted its holdings in Salesforce by 2.2% in the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider's stock valued at $2,141,562,000 after purchasing an additional 176,641 shares during the period. Massachusetts Financial Services Co. MA boosted 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 valued at $1,518,658,000 after purchasing an additional 1,922,674 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in Salesforce by 25.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,378,826 shares of the CRM provider's stock worth $1,125,331,000 after buying an additional 877,495 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CRM shares. BMO Capital Markets lifted their price target on Salesforce from $305.00 to $385.00 and gave the stock an "outperform" rating in a report on Friday. JMP Securities reaffirmed a "market outperform" rating and set a $342.00 price target on shares of Salesforce in a report on Wednesday, August 28th. Loop Capital lifted their price target on Salesforce from $270.00 to $340.00 and gave the stock a "hold" rating in a report on Thursday, November 14th. Jefferies Financial Group lifted their price target on Salesforce from $350.00 to $400.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Finally, Sanford C. Bernstein lifted their target price on Salesforce from $234.00 to $236.00 and gave the stock an "outperform" rating in a research report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $325.36.

Salesforce Price Performance

Shares of NYSE:CRM traded up $1.04 during trading on Tuesday, hitting $323.29. 5,467,790 shares of the stock were exchanged, compared to its average volume of 6,306,689. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $348.86. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average price of $288.14 and a two-hundred day moving average price of $266.96. The company has a market cap of $309.07 billion, a PE ratio of 56.09, a P/E/G ratio of 2.94 and a beta of 1.29.

Salesforce (NYSE:CRM - Get Free Report) last posted its earnings results 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 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 analyst estimates of $9.22 billion. During the same quarter in the prior year, the company earned $1.63 EPS. Salesforce's revenue was up 8.5% on a year-over-year basis. On average, analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.49%. Salesforce's dividend payout ratio (DPR) is presently 27.83%.

Insider Buying and Selling at Salesforce

In other Salesforce news, COO Brian Millham sold 4,056 shares of the business's stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $261.50, for a total value of $1,060,644.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the business's 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 $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. In the last three months, insiders sold 140,173 shares of company stock worth $40,146,206. Insiders own 3.20% of the company's stock.

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.