DSC Advisors L.P. Raises Stake in Salesforce, Inc. (NYSE:CRM)

DSC Advisors L.P. lifted its position in Salesforce, Inc. (NYSE:CRM) by 3.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,302 shares of the CRM provider’s stock after buying an additional 39 shares during the quarter. Salesforce makes up approximately 1.1% of DSC Advisors L.P.’s portfolio, making the stock its 14th biggest holding. DSC Advisors L.P.’s holdings in Salesforce were worth $335,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CRM. Ruedi Wealth Management Inc. lifted its holdings in shares of Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 56 shares during the last quarter. Piscataqua Savings Bank raised its stake in shares of Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 96 shares in the last quarter. Clear Investment Research LLC grew its holdings in shares of Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares during the last quarter. Red Tortoise LLC purchased a new position in Salesforce in the 1st quarter worth $33,000. Finally, Stephens Consulting LLC lifted its stake in Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 125 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CRM shares. Phillip Securities reiterated an “accumulate” rating and issued a $305.00 price objective on shares of Salesforce in a report on Friday, August 30th. Deutsche Bank Aktiengesellschaft reduced their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Oppenheimer lifted their price objective on Salesforce from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Robert W. Baird increased their price target on shares of Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, DA Davidson boosted their price objective on shares of Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $307.73.

Salesforce Trading Up 1.3 %

Shares of NYSE:CRM opened at $274.09 on Thursday. The stock’s 50-day simple moving average is $254.66 and its two-hundred day simple moving average is $265.66. The stock has a market capitalization of $262.03 billion, a price-to-earnings ratio of 49.30, a PEG ratio of 2.39 and a beta of 1.29. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same period in the previous year, the business posted $1.63 earnings per share. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. Analysts expect that Salesforce, Inc. will post 7.54 EPS for the current year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.58%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio is 28.78%.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the transaction, the chief accounting officer now directly 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 can be accessed through the SEC website. In other Salesforce news, COO Brian Millham sold 2,018 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $260.00, for a total value of $524,680.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the transaction, the chief accounting officer now directly owns 6,431 shares in the company, valued at approximately $1,644,921.18. The disclosure for this sale can be found here. Insiders have sold 65,033 shares of company stock worth $16,699,397 in the last three months. Company insiders own 3.20% of the company’s stock.

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.