ORG Partners LLC Raises Stake in Salesforce, Inc. (NYSE:CRM)

ORG Partners LLC raised its stake in Salesforce, Inc. (NYSE:CRM) by 2,673.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 6,295 shares of the CRM provider’s stock after buying an additional 6,068 shares during the period. ORG Partners LLC’s holdings in Salesforce were worth $1,613,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CRM. Deltec Asset Management LLC grew its holdings in shares of Salesforce by 36.8% during the 2nd quarter. Deltec Asset Management LLC now owns 6,500 shares of the CRM provider’s stock worth $1,671,000 after purchasing an additional 1,750 shares during the period. Howard Capital Management Group LLC grew its holdings in shares of Salesforce by 0.8% during the 2nd quarter. Howard Capital Management Group LLC now owns 114,761 shares of the CRM provider’s stock worth $29,505,000 after purchasing an additional 941 shares during the period. Ferguson Wellman Capital Management Inc. grew its holdings in shares of Salesforce by 25.5% during the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 1,645 shares of the CRM provider’s stock worth $423,000 after purchasing an additional 334 shares during the period. Great Valley Advisor Group Inc. grew its holdings in shares of Salesforce by 14.7% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 58,277 shares of the CRM provider’s stock worth $14,983,000 after purchasing an additional 7,488 shares during the period. Finally, NorthCrest Asset Manangement LLC lifted its stake in Salesforce by 13.5% during the 2nd quarter. NorthCrest Asset Manangement LLC now owns 97,418 shares of the CRM provider’s stock worth $25,046,000 after acquiring an additional 11,568 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on CRM shares. Oppenheimer decreased their target price on Salesforce from $325.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. UBS Group decreased their target price on Salesforce from $310.00 to $250.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. JPMorgan Chase & Co. decreased their target price on Salesforce from $310.00 to $300.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Sanford C. Bernstein increased their target price on Salesforce from $231.00 to $234.00 and gave the stock an “underperform” rating in a research note on Thursday, May 30th. Finally, Citigroup reduced their price target on Salesforce from $323.00 to $260.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $292.79.

Salesforce Trading Up 0.3 %

Shares of Salesforce stock traded up $0.72 on Wednesday, hitting $255.32. 4,144,730 shares of the company’s stock traded hands, compared to its average volume of 6,643,934. The firm’s 50-day moving average price is $248.27 and its two-hundred day moving average price is $273.40. The stock has a market capitalization of $247.41 billion, a PE ratio of 46.09, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The business had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same period last year, the business posted $1.15 EPS. Salesforce’s revenue was up 10.7% on a year-over-year basis. On average, research analysts expect that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.63%. The ex-dividend date was Tuesday, July 9th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Insider Buying and Selling

In related news, insider Parker Harris sold 1,400 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $251.62, for a total value of $352,268.00. Following the completion of the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $29,585,731.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $105,637.14. Following the transaction, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Parker Harris sold 1,400 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $251.62, for a total transaction of $352,268.00. Following the transaction, the insider now directly owns 117,581 shares in the company, valued at approximately $29,585,731.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 197,936 shares of company stock worth $51,158,915. 3.20% of the stock is owned by insiders.

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.