Plato Investment Management Ltd Purchases 684 Shares of Salesforce, Inc. (NYSE:CRM)

Plato Investment Management Ltd raised its position in Salesforce, Inc. (NYSE:CRM) by 2.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,864 shares of the CRM provider’s stock after purchasing an additional 684 shares during the quarter. Salesforce accounts for about 0.7% of Plato Investment Management Ltd’s holdings, making the stock its 24th biggest holding. Plato Investment Management Ltd’s holdings in Salesforce were worth $8,166,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Piscataqua Savings Bank raised its holdings in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after buying an additional 96 shares during the last quarter. Clear Investment Research LLC raised its stake in shares of Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 98 shares during the last quarter. Stephens Consulting LLC lifted its holdings in shares of Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 125 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in shares of Salesforce in the second quarter worth $33,000. Finally, Godsey & Gibb Inc. increased its holdings in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Price Performance

CRM opened at $341.72 on Thursday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $348.86. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $326.68 billion, a price-to-earnings ratio of 59.43, a P/E/G ratio of 3.09 and a beta of 1.29. The firm’s fifty day moving average price is $281.40 and its two-hundred day moving average price is $265.31.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.63 earnings per share. As a group, analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is 27.83%.

Wall Street Analyst Weigh In

Several brokerages have commented on CRM. Truist Financial reaffirmed a “buy” rating and set a $315.00 target price (up from $300.00) on shares of Salesforce in a report on Thursday, September 19th. Loop Capital reiterated a “hold” rating and issued a $270.00 target price on shares of Salesforce in a report on Thursday, September 19th. Sanford C. Bernstein increased their target price on shares of Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Raymond James boosted their price target on shares of Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a research report on Thursday, September 19th. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $318.23.

Insider Buying and Selling

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $255,905.13. Following the completion of the transaction, the chief financial officer now owns 52,930 shares in the company, valued at $15,100,399.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Amy E. Weaver sold 897 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $255,905.13. Following the completion of the transaction, the chief financial officer now directly owns 52,930 shares of the company’s stock, valued at $15,100,399.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brian Millham sold 60,522 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 144,373 shares of company stock worth $41,250,680. 3.20% of the stock is owned by company insiders.

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.