Woodmont Investment Counsel LLC Increases Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Woodmont Investment Counsel LLC lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,540 shares of the CRM provider’s stock after buying an additional 283 shares during the period. Woodmont Investment Counsel LLC’s holdings in Salesforce were worth $5,075,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Umpqua Bank boosted its position in shares of Salesforce by 0.4% during the third quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock valued at $2,110,000 after buying an additional 34 shares during the last quarter. Nvwm LLC boosted its position in Salesforce by 1.4% in the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock worth $667,000 after purchasing an additional 36 shares during the last quarter. Prentice Wealth Management LLC boosted its position in Salesforce by 1.5% in the third quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock worth $686,000 after purchasing an additional 37 shares during the last quarter. Private Wealth Management Group LLC boosted its position in Salesforce by 11.6% in the third quarter. Private Wealth Management Group LLC now owns 357 shares of the CRM provider’s stock worth $98,000 after purchasing an additional 37 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. boosted its position in Salesforce by 0.8% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other news, COO Brian Millham sold 60,522 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, COO Brian Millham sold 60,522 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the transaction, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 149,973 shares of company stock worth $42,672,142. 3.20% of the stock is currently owned by company insiders.

Salesforce Price Performance

Shares of Salesforce stock opened at $306.90 on Thursday. Salesforce, Inc. has a 12 month low of $208.84 and a 12 month high of $318.71. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The business’s 50-day moving average price is $275.30 and its 200-day moving average price is $263.86. The firm has a market capitalization of $293.40 billion, a PE ratio of 53.37, a price-to-earnings-growth ratio of 2.67 and a beta of 1.29.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter last year, the business posted $1.63 EPS. The business’s revenue was up 8.5% on a year-over-year basis. Sell-side analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.52%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is currently 27.83%.

Analysts Set New Price Targets

Several research analysts have weighed in on CRM shares. Oppenheimer reissued an “outperform” rating and issued a $330.00 price objective (up previously from $300.00) on shares of Salesforce in a research report on Thursday, October 24th. Canaccord Genuity Group boosted their price objective on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Roth Mkm reaffirmed a “buy” rating and set a $335.00 price target on shares of Salesforce in a research report on Thursday, August 29th. FBN Securities raised Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $300.00 price target on shares of Salesforce in a research report on Monday, August 26th. Nine research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $313.37.

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.