Sterling Investment Counsel LLC Sells 2,637 Shares of Salesforce, Inc. (NYSE:CRM)

Sterling Investment Counsel LLC lessened its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 69.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,142 shares of the CRM provider's stock after selling 2,637 shares during the quarter. Sterling Investment Counsel LLC's holdings in Salesforce were worth $382,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Infrastructure Capital Advisors LLC bought a new position in Salesforce in the 3rd quarter worth about $27,000. Strategic Investment Solutions Inc. IL bought a new stake in Salesforce during the second quarter worth approximately $33,000. Godsey & Gibb Inc. raised 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 acquiring an additional 90 shares in the last quarter. Annapolis Financial Services LLC lifted its stake in Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider's stock valued at $38,000 after purchasing an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new position in shares of Salesforce in the 3rd quarter worth $53,000. Institutional investors own 80.43% of the company's stock.

Analyst Upgrades and Downgrades

CRM has been the topic of several analyst reports. Macquarie reissued a "neutral" rating and issued a $370.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. BMO Capital Markets lifted their target price on shares of Salesforce from $385.00 to $425.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Citigroup increased their price objective on Salesforce from $368.00 to $390.00 and gave the company a "neutral" rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their price objective on shares of Salesforce from $340.00 to $380.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Finally, Royal Bank of Canada boosted their price objective on shares of Salesforce from $300.00 to $420.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $377.63.

Insider Activity at Salesforce

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the transaction, the chief executive officer now directly owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of the firm's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $290.23, for a total value of $145,115.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,506 shares in the company, valued at approximately $1,888,236.38. This represents a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,109,169 shares of company stock worth $383,432,020 in the last ninety days. 3.20% of the stock is owned by company insiders.

Salesforce Stock Performance

Shares of CRM stock traded up $12.90 on Tuesday, hitting $360.00. 12,082,610 shares of the stock were exchanged, compared to its average volume of 6,269,196. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The firm's 50 day moving average is $337.23 and its two-hundred day moving average is $295.28. The firm has a market capitalization of $344.52 billion, a PE ratio of 59.21, a P/E/G ratio of 3.01 and a beta of 1.30. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

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

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.44%. The ex-dividend date was Wednesday, December 18th. Salesforce's dividend payout ratio is presently 26.32%.

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.