Courier Capital LLC Has $3.37 Million Position in Salesforce, Inc. (NYSE:CRM)

Courier Capital LLC grew its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,802 shares of the CRM provider’s stock after acquiring an additional 172 shares during the period. Courier Capital LLC’s holdings in Salesforce were worth $3,369,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CRM. Fairfield Bush & CO. grew its holdings in Salesforce by 8.7% during the 1st quarter. Fairfield Bush & CO. now owns 4,468 shares of the CRM provider’s stock worth $949,000 after acquiring an additional 357 shares during the period. Roundview Capital LLC grew its holdings in Salesforce by 18.8% during the 1st quarter. Roundview Capital LLC now owns 24,037 shares of the CRM provider’s stock worth $5,104,000 after acquiring an additional 3,809 shares during the period. Covestor Ltd grew its holdings in Salesforce by 42.8% during the 1st quarter. Covestor Ltd now owns 621 shares of the CRM provider’s stock worth $132,000 after acquiring an additional 186 shares during the period. Ergoteles LLC acquired a new stake in shares of Salesforce in the 1st quarter valued at about $455,000. Finally, Mackenzie Financial Corp grew its stake in shares of Salesforce by 21.3% in the 1st quarter. Mackenzie Financial Corp now owns 860,950 shares of the CRM provider’s stock valued at $182,797,000 after buying an additional 151,440 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 12,249 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $264.94, for a total transaction of $3,245,250.06. Following the completion of the sale, the chief financial officer now owns 37,979 shares in the company, valued at approximately $10,062,156.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Amy E. Weaver sold 2,536 shares of Salesforce stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $260.54, for a total value of $660,729.44. Following the completion of the transaction, the chief financial officer now directly owns 37,979 shares in the company, valued at approximately $9,895,048.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amy E. Weaver sold 12,249 shares of Salesforce stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $264.94, for a total transaction of $3,245,250.06. Following the completion of the transaction, the chief financial officer now owns 37,979 shares of the company’s stock, valued at $10,062,156.26. The disclosure for this sale can be found here. Insiders sold a total of 898,507 shares of company stock worth $255,293,063 in the last quarter. Insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the subject of several research reports. Wells Fargo & Company raised their target price on Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 21st. Canaccord Genuity Group restated a “buy” rating and issued a $350.00 target price on shares of Salesforce in a research note on Thursday, March 7th. KeyCorp initiated coverage on Salesforce in a research note on Thursday, March 21st. They issued a “sector weight” rating for the company. BMO Capital Markets raised their target price on Salesforce from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Finally, Needham & Company LLC raised their target price on Salesforce from $275.00 to $345.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $304.32.

Salesforce Price Performance

Salesforce stock opened at $301.41 on Thursday. Salesforce, Inc. has a 52 week low of $187.31 and a 52 week high of $318.71. The company’s 50 day moving average price is $293.59 and its two-hundred day moving average price is $251.75. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market cap of $292.37 billion, a P/E ratio of 71.76, a P/E/G ratio of 2.35 and a beta of 1.28.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter last year, the business posted $1.01 EPS. Salesforce’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, equities analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.53%. Salesforce’s payout ratio is currently 9.52%.

Salesforce 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.