Courier Capital LLC Has $3.63 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Courier Capital LLC increased its stake in Salesforce, Inc. (NYSE:CRM) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,270 shares of the CRM provider’s stock after buying an additional 337 shares during the quarter. Courier Capital LLC’s holdings in Salesforce were worth $3,632,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Ruedi Wealth Management Inc. boosted its holdings in shares of Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after buying an additional 56 shares during the last quarter. Piscataqua Savings Bank boosted 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 buying an additional 96 shares during the last quarter. Red Tortoise LLC acquired a new stake in shares of Salesforce in the 1st quarter valued at approximately $33,000. Clear Investment Research LLC boosted its holdings in shares of Salesforce by 816.7% in 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 last quarter. Finally, Godsey & Gibb Inc. boosted its holdings in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Down 1.0 %

Shares of CRM stock traded down $2.75 during mid-day trading on Wednesday, reaching $285.58. 1,095,209 shares of the stock traded hands, compared to its average volume of 6,354,121. The company has a market cap of $276.73 billion, a price-to-earnings ratio of 51.44, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. The stock’s fifty day simple moving average is $268.12 and its two-hundred day simple moving average is $263.09. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.63 earnings per share. On average, research analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.56%. Salesforce’s payout ratio is 28.78%.

Analyst Ratings Changes

CRM has been the topic of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $345.00 price target on shares of Salesforce in a research note on Friday, September 20th. UBS Group increased their price target on Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Royal Bank of Canada restated an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a research note on Thursday, September 19th. Sanford C. Bernstein increased their price target on Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Erste Group Bank restated a “hold” rating on shares of Salesforce in a research note on Wednesday, September 11th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $311.66.

Insider Activity at Salesforce

In related news, insider Parker Harris sold 2,800 shares of Salesforce stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total transaction of $675,416.00. Following the transaction, the insider now owns 117,581 shares of the company’s stock, valued at $28,362,888.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Salesforce news, COO Brian Millham sold 4,056 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $261.50, for a total value of $1,060,644.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Parker Harris sold 2,800 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total value of $675,416.00. Following the sale, the insider now directly owns 117,581 shares in the company, valued at $28,362,888.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,502 shares of company stock valued at $23,045,186 over the last 90 days. Insiders own 3.20% of the company’s stock.

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.