Aljian Capital Management LLC Increases Stock Position in Salesforce, Inc. (NYSE:CRM)

Aljian Capital Management LLC raised its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 16.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,258 shares of the CRM provider's stock after purchasing an additional 1,834 shares during the quarter. Salesforce makes up about 0.8% of Aljian Capital Management LLC's portfolio, making the stock its 20th biggest holding. Aljian Capital Management LLC's holdings in Salesforce were worth $3,629,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Piscataqua Savings Bank raised 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 valued at $26,000 after buying an additional 96 shares in the last quarter. Clear Investment Research LLC increased its stake in Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider's stock worth $28,000 after acquiring an additional 98 shares during the last quarter. Godsey & Gibb Inc. grew its stake in 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 purchasing an additional 90 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Salesforce in the second quarter valued at about $33,000. Finally, Stephens Consulting LLC boosted its stake in shares of Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider's stock worth $33,000 after buying an additional 125 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Stock Performance

CRM stock traded down $3.01 during midday trading on Monday, hitting $322.25. 4,250,383 shares of the company traded hands, compared to its average volume of 6,310,329. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $308.07 billion, a price-to-earnings ratio of 56.04, a price-to-earnings-growth ratio of 2.94 and a beta of 1.29. The business has a 50 day simple moving average of $288.14 and a 200-day simple moving average of $266.96. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $348.86.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the prior year, the firm earned $1.63 earnings per share. The firm's revenue was up 8.5% compared to the same quarter last year. As a group, equities research analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Wednesday, September 18th. Salesforce's dividend payout ratio is currently 27.83%.

Insider Activity at Salesforce

In other news, CFO Amy E. Weaver sold 897 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were 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 in the company, valued at $15,100,399.70. This represents a 1.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Parker Harris sold 3,970 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total value of $1,178,057.80. Following the transaction, the insider now owns 119,402 shares of the company's stock, valued at $35,431,349.48. This represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 144,373 shares of company stock worth $41,250,680. 3.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CRM. Loop Capital raised their price target on Salesforce from $270.00 to $340.00 and gave the stock a "hold" rating in a research report on Thursday. Sanford C. Bernstein increased their target price on shares of Salesforce from $234.00 to $236.00 and gave the stock an "outperform" rating in a research report on Thursday, August 29th. Citigroup raised their price objective on Salesforce from $260.00 to $290.00 and gave the stock a "neutral" rating in a research note on Monday, August 26th. Oppenheimer reiterated an "outperform" rating and issued a $330.00 price target (up from $300.00) on shares of Salesforce in a research report on Thursday, October 24th. Finally, Northland Securities upgraded shares of Salesforce from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $270.00 to $400.00 in a research note on Wednesday, October 2nd. Nine equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $325.36.

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.