Mechanics Bank Trust Department Makes New Investment in Salesforce, Inc. (NYSE:CRM)

Mechanics Bank Trust Department acquired a new position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,459 shares of the CRM provider's stock, valued at approximately $488,000.

Other institutional investors also recently modified their holdings of the company. Aviance Capital Partners LLC increased its position in shares of Salesforce by 0.5% in the third quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider's stock worth $1,860,000 after purchasing an additional 33 shares during the last quarter. EWA LLC lifted its stake in shares of Salesforce by 1.7% in the 3rd quarter. EWA LLC now owns 2,001 shares of the CRM provider's stock valued at $548,000 after acquiring an additional 33 shares during the last quarter. Umpqua Bank boosted its holdings in Salesforce by 0.4% during the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider's stock valued at $2,110,000 after acquiring an additional 34 shares during the period. Principal Street Partners LLC grew its position in Salesforce by 1.0% during the 3rd quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider's stock worth $891,000 after acquiring an additional 34 shares during the last quarter. Finally, Nvwm LLC boosted its stake in shares of Salesforce by 1.4% during the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider's stock valued at $667,000 after purchasing an additional 36 shares during the period. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Trading Up 1.5 %

Shares of Salesforce stock traded up $4.77 on Monday, reaching $324.77. The company had a trading volume of 6,283,814 shares, compared to its average volume of 4,604,853. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm's 50 day moving average price is $337.31 and its two-hundred day moving average price is $292.02. The firm has a market cap of $310.81 billion, a PE ratio of 53.42, a PEG ratio of 2.87 and a beta of 1.30.

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

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce's payout ratio is presently 26.32%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CRM shares. Robert W. Baird increased their price target on shares of Salesforce from $340.00 to $430.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Needham & Company LLC boosted their target price on shares of Salesforce from $375.00 to $400.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Stifel Nicolaus increased their price target on shares of Salesforce from $390.00 to $425.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. TD Cowen raised shares of Salesforce from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $380.00 to $400.00 in a research note on Friday. Finally, Canaccord Genuity Group lifted their target price on shares of Salesforce from $315.00 to $415.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $377.63.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 897 shares of the business's stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $255,905.13. Following the transaction, the chief financial officer now owns 52,930 shares of the company's stock, valued at approximately $15,100,399.70. The trade was a 1.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director G Mason Morfit sold 722,300 shares of the business's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the transaction, the director now owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. This trade represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,183,838 shares of company stock valued at $405,595,158. 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.