Gemmer Asset Management LLC Buys 2,554 Shares of Salesforce, Inc. (NYSE:CRM)

Gemmer Asset Management LLC grew its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 179.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,978 shares of the CRM provider's stock after purchasing an additional 2,554 shares during the quarter. Gemmer Asset Management LLC's holdings in Salesforce were worth $1,330,000 at the end of the most recent quarter.

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

Insider Activity at Salesforce

In related news, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $288.82, for a total transaction of $1,213,044.00. Following the transaction, the insider now owns 118,514 shares in the company, valued at $34,229,213.48. This represents a 3.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brian Millham sold 6,161 shares of Salesforce stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $289.75, for a total value of $1,785,149.75. Following the completion of the sale, the chief operating officer now directly owns 969 shares of the company's stock, valued at $280,767.75. The trade was a 86.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,183,838 shares of company stock worth $405,595,158 in the last 90 days. Corporate insiders own 3.20% of the company's stock.

Salesforce Trading Up 1.5 %

NYSE CRM traded up $4.77 during trading hours on Monday, reaching $324.77. The company's stock 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 current ratio of 1.11 and a quick ratio of 1.11. The stock has a market cap of $310.81 billion, a P/E ratio of 53.42, a P/E/G ratio of 2.87 and a beta of 1.30. The firm has a fifty day simple moving average of $337.31 and a 200-day simple moving average of $292.02.

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

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce's dividend payout ratio is presently 26.32%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Northland Securities restated an "outperform" rating and set a $440.00 target price (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Morgan Stanley increased their target price on shares of Salesforce from $330.00 to $405.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Macquarie reissued a "neutral" rating and issued a $370.00 price target on shares of Salesforce in a report on Wednesday, December 18th. BMO Capital Markets raised their price objective on Salesforce from $385.00 to $425.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Finally, Needham & Company LLC lifted their target price on Salesforce from $375.00 to $400.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $377.63.

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.