Bridge Creek Capital Management LLC Raises Holdings in Salesforce, Inc. (NYSE:CRM)

Bridge Creek Capital Management LLC boosted its position in Salesforce, Inc. (NYSE:CRM) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,455 shares of the CRM provider’s stock after buying an additional 55 shares during the period. Salesforce makes up approximately 1.7% of Bridge Creek Capital Management LLC’s investment portfolio, making the stock its 18th largest holding. Bridge Creek Capital Management LLC’s holdings in Salesforce were worth $5,599,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Salesforce by 1.2% in the first quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock valued at $25,490,446,000 after buying an additional 1,008,841 shares during the last quarter. Fisher Asset Management LLC boosted its position in Salesforce by 5.2% in the fourth quarter. Fisher Asset Management LLC now owns 14,905,462 shares of the CRM provider’s stock valued at $3,922,223,000 after buying an additional 736,986 shares during the last quarter. Capital Research Global Investors boosted its position in Salesforce by 26.9% in the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after buying an additional 3,044,611 shares during the last quarter. Capital International Investors boosted its position in Salesforce by 3.0% in the first quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock valued at $4,251,592,000 after buying an additional 407,834 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in Salesforce by 2.2% in the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock valued at $2,141,562,000 after buying an additional 176,641 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other news, COO Brian Millham sold 8,427 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $280.00, for a total transaction of $2,359,560.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Brian Millham sold 8,427 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $280.00, for a total transaction of $2,359,560.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Maynard G. Webb, Jr. sold 9,170 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $276.32, for a total value of $2,533,854.40. Following the transaction, the director now owns 1,363 shares of the company’s stock, valued at $376,624.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,412 shares of company stock worth $20,071,723. 3.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CRM shares. Oppenheimer upped their target price 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 boosted their price target on Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Piper Sandler raised Salesforce from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $268.00 to $325.00 in a report on Tuesday, September 24th. Stifel Nicolaus boosted their price target on Salesforce from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Northland Capmk raised Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Eight analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $310.74.

Salesforce Trading Down 0.0 %

NYSE:CRM traded down $0.09 during trading hours on Tuesday, hitting $284.48. The company had a trading volume of 216,213 shares, compared to its average volume of 6,501,913. 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 company has a 50-day moving average of $258.53 and a 200 day moving average of $264.22. The company has a market cap of $275.66 billion, a P/E ratio of 51.17, a P/E/G ratio of 2.39 and a beta of 1.30. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71.

Salesforce (NYSE:CRM) last released its quarterly 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 analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.63 EPS. Sell-side analysts expect that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 28.78%.

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.