Salesforce, Inc. (NYSE:CRM) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 7.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,506 shares of the CRM provider's stock after selling 5,684 shares during the quarter. Salesforce comprises about 0.5% of Kentucky Retirement Systems' investment portfolio, making the stock its 29th biggest position. Kentucky Retirement Systems' holdings in Salesforce were worth $18,477,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Piscataqua Savings Bank lifted its holdings in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider's stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. Clear Investment Research LLC raised its holdings in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider's stock valued at $28,000 after buying an additional 98 shares during the period. Godsey & Gibb Inc. lifted its position 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 buying an additional 90 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Salesforce during the second quarter worth $33,000. Finally, Stephens Consulting LLC increased its position in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider's stock valued at $33,000 after acquiring an additional 125 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Down 1.9 %

Salesforce stock traded down $6.39 during midday trading on Friday, reaching $325.26. The company's stock had a trading volume of 7,093,003 shares, compared to its average volume of 6,319,677. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $310.95 billion, a P/E ratio of 56.57, a PEG ratio of 3.09 and a beta of 1.29. The stock's 50-day simple moving average is $286.61 and its 200-day simple moving average is $266.64. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $348.86.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. Salesforce's revenue was up 8.5% on a year-over-year basis. During the same period last year, the firm posted $1.63 EPS. On average, sell-side analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 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, September 18th. Salesforce's payout ratio is 27.83%.

Insiders Place Their Bets

In other news, insider Parker Harris sold 3,970 shares of Salesforce stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the completion of the transaction, the insider now directly owns 119,402 shares of the company's stock, valued at $35,431,349.48. The trade was a 3.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $290.23, for a total transaction of $145,115.00. Following the sale, the chief accounting officer now directly owns 6,506 shares in the company, valued at $1,888,236.38. This trade represents a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 144,373 shares of company stock valued at $41,250,680. 3.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on CRM. Oppenheimer reiterated an "outperform" rating and set a $330.00 price target (up from $300.00) on shares of Salesforce in a report on Thursday, October 24th. Wells Fargo & Company increased their price target on Salesforce from $275.00 to $330.00 and gave the stock an "equal weight" rating in a report on Tuesday. Bank of America raised their price target on Salesforce from $325.00 to $390.00 and gave the stock a "buy" rating in a research note on Wednesday. Robert W. Baird upped their price objective on Salesforce from $295.00 to $315.00 and gave the company an "outperform" rating in a research report on Thursday, August 29th. Finally, Raymond James lifted their target price on Salesforce from $325.00 to $350.00 and gave the stock a "strong-buy" rating in a research report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $322.51.

About Salesforce

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.