Fulton Bank N.A. Buys 1,272 Shares of Salesforce, Inc. (NYSE:CRM)

Fulton Bank N.A. increased its stake in Salesforce, Inc. (NYSE:CRM) by 13.7% during the fourth quarter, HoldingsChannel reports. The firm owned 10,541 shares of the CRM provider’s stock after acquiring an additional 1,272 shares during the period. Fulton Bank N.A.’s holdings in Salesforce were worth $3,524,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of CRM. Nabity Jensen Investment Management Inc bought a new position in shares of Salesforce during the 3rd quarter worth $1,215,000. Prime Capital Investment Advisors LLC boosted its position in Salesforce by 13.6% during the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after purchasing an additional 6,938 shares during the period. Aljian Capital Management LLC increased its stake in shares of 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 in the last quarter. AIA Group Ltd raised its position in shares of Salesforce by 8.9% in 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 during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after buying an additional 257,501 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

CRM stock traded up $0.40 during trading on Wednesday, hitting $325.33. 1,597,273 shares of the company’s stock traded hands, compared to its average volume of 4,176,992. 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 business has a fifty day simple moving average of $334.05 and a 200 day simple moving average of $287.99. The stock has a market capitalization of $311.34 billion, a price-to-earnings ratio of 53.51, a P/E/G ratio of 3.21 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its quarterly 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 net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the previous year, the company posted $1.62 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, research analysts expect that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be given a $0.40 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Insider Buying and Selling

In other news, Director G Mason Morfit sold 722,300 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the transaction, the director now directly owns 3,192,009 shares of the company’s stock, valued at approximately $1,104,786,234.99. This represents a 18.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total transaction of $1,217,454.00. Following the transaction, the insider now directly owns 118,514 shares of the company’s stock, valued at approximately $34,353,653.18. This trade represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,181,817 shares of company stock valued at $404,760,429 over the last three months. 3.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CRM shares. Needham & Company LLC lifted their price objective on shares of Salesforce from $375.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday. Northland Securities reiterated an “outperform” rating and set a $440.00 price objective (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Stifel Nicolaus raised their target price on Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Loop Capital upped their price target on Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley increased their price target on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $376.05.

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.