Community Bank N.A. Purchases 469 Shares of Salesforce, Inc. (NYSE:CRM)

Community Bank N.A. boosted its position in Salesforce, Inc. (NYSE:CRM) by 9.5% in the third quarter, Holdings Channel.com reports. The firm owned 5,394 shares of the CRM provider’s stock after buying an additional 469 shares during the quarter. Community Bank N.A.’s holdings in Salesforce were worth $1,476,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC increased its stake in shares of Salesforce by 13.6% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after acquiring an additional 6,938 shares in the last quarter. Aljian Capital Management LLC grew its holdings in Salesforce by 16.1% in the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after purchasing an additional 1,834 shares during the period. AIA Group Ltd increased its stake in shares of Salesforce by 8.9% during the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after purchasing an additional 1,962 shares in the last quarter. Transamerica Financial Advisors Inc. purchased a new position in shares of Salesforce during the third quarter valued at approximately $3,672,000. Finally, Harvest Portfolios Group Inc. boosted its position in shares of Salesforce by 13.6% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 89,098 shares of the CRM provider’s stock worth $24,387,000 after purchasing an additional 10,656 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the subject of a number of analyst reports. Northland Capmk raised Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Morgan Stanley raised their price target on Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Scotiabank began coverage on shares of Salesforce in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $425.00 price target on the stock. Northland Securities upgraded shares of Salesforce from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $270.00 to $400.00 in a research note on Wednesday, October 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 target price on shares of Salesforce in a report on Friday, September 20th. Seven analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $343.89.

Insider Buying and Selling

In other news, insider Sabastian Niles sold 2,484 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total value of $608,108.04. Following the completion of the transaction, the insider now owns 828 shares of the company’s stock, valued at $202,702.68. This represents a 75.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 144,510 shares of company stock valued at $42,475,538. Company insiders own 3.20% of the company’s stock.

Salesforce Price Performance

NYSE CRM opened at $329.99 on Monday. The stock has a market cap of $315.47 billion, a price-to-earnings ratio of 57.39, a PEG ratio of 2.99 and a beta of 1.29. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $348.86. The company’s 50 day moving average is $302.12 and its two-hundred day moving average is $270.49. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 27.83%.

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.