Mogy Joel R Investment Counsel Inc. Acquires 55 Shares of Salesforce, Inc. (NYSE:CRM)

Mogy Joel R Investment Counsel Inc. increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 0.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 196,951 shares of the CRM provider’s stock after acquiring an additional 55 shares during the period. Salesforce accounts for about 3.9% of Mogy Joel R Investment Counsel Inc.’s holdings, making the stock its 8th biggest holding. Mogy Joel R Investment Counsel Inc.’s holdings in Salesforce were worth $65,847,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Aviance Capital Partners LLC lifted its stake in shares of Salesforce by 0.5% during the 3rd quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock worth $1,860,000 after buying an additional 33 shares during the last quarter. EWA LLC raised its holdings in Salesforce by 1.7% in the 3rd quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock valued at $548,000 after acquiring an additional 33 shares during the period. Umpqua Bank lifted its position in Salesforce by 0.4% during the third quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after acquiring an additional 34 shares during the last quarter. Principal Street Partners LLC boosted its holdings in shares of Salesforce by 1.0% during the third quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock worth $891,000 after acquiring an additional 34 shares during the period. Finally, Nvwm LLC grew its position in shares of Salesforce by 1.4% in the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock valued at $667,000 after purchasing an additional 36 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on CRM shares. BMO Capital Markets boosted their price target on Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Guggenheim lowered shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price target on the stock. in a research report on Monday, January 6th. Loop Capital boosted their price objective on shares of Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Scotiabank raised their target price on shares of Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. Finally, Robert W. Baird boosted their price target on Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Insiders Place Their Bets

In other news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the transaction, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction dated 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 owns 7,006 shares in the company, valued at approximately $1,998,741.74. The trade was a 5.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,173,477 shares of company stock worth $402,596,964. 3.20% of the stock is currently owned by insiders.

Salesforce Price Performance

CRM stock opened at $324.77 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a market capitalization of $310.81 billion, a P/E ratio of 53.42, a PEG ratio of 2.93 and a beta of 1.30. The company has a fifty day moving average price of $336.97 and a 200-day moving average price of $292.47.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same period in the previous year, the firm posted $1.62 earnings per share. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, equities analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is presently 26.32%.

About Salesforce

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.