Waters Parkerson & CO. LLC Buys 600 Shares of Salesforce, Inc. (NYSE:CRM)

Waters Parkerson & CO. LLC raised its stake in shares of Salesforce, Inc. (NYSE:CRMGet Rating) by 39.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,122 shares of the CRM provider’s stock after purchasing an additional 600 shares during the period. Waters Parkerson & CO. LLC’s holdings in Salesforce were worth $305,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in CRM. Geller Advisors LLC increased its stake in shares of Salesforce by 2.0% during the second quarter. Geller Advisors LLC now owns 2,752 shares of the CRM provider’s stock worth $454,000 after purchasing an additional 54 shares in the last quarter. Wellington Shields & Co. LLC increased its stake in shares of Salesforce by 4.4% during the second quarter. Wellington Shields & Co. LLC now owns 1,301 shares of the CRM provider’s stock worth $215,000 after purchasing an additional 55 shares in the last quarter. Silvant Capital Management LLC increased its stake in shares of Salesforce by 0.4% during the second quarter. Silvant Capital Management LLC now owns 13,828 shares of the CRM provider’s stock worth $2,282,000 after purchasing an additional 58 shares in the last quarter. Columbia Trust Co 01012016 increased its stake in shares of Salesforce by 0.9% during the second quarter. Columbia Trust Co 01012016 now owns 6,433 shares of the CRM provider’s stock worth $1,062,000 after purchasing an additional 60 shares in the last quarter. Finally, Quad Cities Investment Group LLC increased its stake in shares of Salesforce by 4.0% during the second quarter. Quad Cities Investment Group LLC now owns 1,562 shares of the CRM provider’s stock worth $258,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 75.83% of the company’s stock.

Salesforce Stock Down 1.9 %

CRM traded down $2.96 during trading hours on Wednesday, hitting $151.90. 2,441,559 shares of the company’s stock were exchanged, compared to its average volume of 9,824,191. Salesforce, Inc. has a 12-month low of $126.34 and a 12-month high of $234.49. The firm has a 50 day moving average of $141.15 and a 200 day moving average of $155.56. The firm has a market cap of $151.90 billion, a P/E ratio of 553.07, a price-to-earnings-growth ratio of 3.91 and a beta of 1.15. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.16.

Salesforce (NYSE:CRMGet Rating) last announced its earnings results on Wednesday, November 30th. The CRM provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.15. Salesforce had a net margin of 0.92% and a return on equity of 3.21%. The firm had revenue of $7.84 billion for the quarter, compared to the consensus estimate of $7.83 billion. During the same period in the prior year, the firm earned $0.78 EPS. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. Analysts predict that Salesforce, Inc. will post 2.38 EPS for the current fiscal year.

Analysts Set New Price Targets

CRM has been the subject of a number of research reports. Credit Suisse Group cut their target price on shares of Salesforce from $250.00 to $225.00 and set an “outperform” rating for the company in a research note on Monday, December 5th. Loop Capital dropped their price objective on shares of Salesforce from $150.00 to $140.00 in a research note on Thursday, January 5th. Raymond James dropped their price objective on shares of Salesforce from $225.00 to $200.00 in a research note on Thursday, December 1st. Sanford C. Bernstein cut shares of Salesforce from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $134.00 to $119.00 in a research note on Wednesday, January 11th. Finally, Wolfe Research cut shares of Salesforce from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 1st. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.81.

Insider Buying and Selling

In related news, CEO Marc Benioff sold 2,300 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $161.05, for a total transaction of $370,415.00. Following the sale, the chief executive officer now directly owns 27,761,368 shares of the company’s stock, valued at approximately $4,470,968,316.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Salesforce news, CEO Marc Benioff sold 2,300 shares of the stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $161.05, for a total value of $370,415.00. Following the sale, the chief executive officer now directly owns 27,761,368 shares of the company’s stock, valued at approximately $4,470,968,316.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 186 shares of the stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $155.59, for a total transaction of $28,939.74. Following the completion of the sale, the chief accounting officer now directly owns 1,273 shares in the company, valued at $198,066.07. The disclosure for this sale can be found here. Insiders have sold a total of 163,864 shares of company stock valued at $24,850,039 in the last ninety days. Company insiders own 3.60% of the company’s stock.

About Salesforce

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Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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