Oppenheimer Asset Management Inc. Acquires 2,948 Shares of Salesforce, Inc. (NYSE:CRM)

Oppenheimer Asset Management Inc. increased its position in Salesforce, Inc. (NYSE:CRM) by 2.4% in the 4th quarter, Holdings Channel reports. The firm owned 123,518 shares of the CRM provider’s stock after buying an additional 2,948 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Salesforce were worth $41,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC bought a new position in Salesforce in the third quarter worth $27,000. Arlington Trust Co LLC lifted its position in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc bought a new position in Salesforce in the fourth quarter worth $30,000. Asset Planning Inc acquired a new position in Salesforce during the fourth quarter worth $31,000. Finally, Collier Financial acquired a new position in Salesforce during the fourth quarter worth $32,000. 80.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Salesforce news, insider Miguel Milano sold 458 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the sale, the insider now owns 5,864 shares of the company’s stock, valued at approximately $1,805,936.08. This trade represents a 7.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the transaction, the chief financial officer now directly owns 53,861 shares of the company’s stock, valued at approximately $18,474,323. The trade was a 10.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,102,572 shares of company stock valued at $381,283,706 over the last 90 days. 3.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the company. BMO Capital Markets dropped their price objective on Salesforce from $425.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. Oppenheimer reiterated an “outperform” rating and set a $415.00 price objective (up from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. Citigroup dropped their price objective on Salesforce from $390.00 to $350.00 and set a “neutral” rating for the company in a research note on Tuesday. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, The Goldman Sachs Group raised their target price on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $374.47.

Salesforce Price Performance

Shares of NYSE CRM opened at $307.19 on Thursday. The firm has a market cap of $293.98 billion, a P/E ratio of 50.53, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31. The business’s 50 day moving average is $330.86 and its 200-day moving average is $306.97. 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, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

Salesforce (NYSE:CRM) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same period in the prior year, the business posted $1.62 EPS. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities research analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.52%. Salesforce’s payout ratio is 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.