Douglass Winthrop Advisors LLC Has $2.87 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Douglass Winthrop Advisors LLC lowered its position in Salesforce, Inc. (NYSE:CRM) by 4.6% in the third quarter, Holdings Channel.com reports. The fund owned 10,493 shares of the CRM provider’s stock after selling 501 shares during the period. Douglass Winthrop Advisors LLC’s holdings in Salesforce were worth $2,872,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Piscataqua Savings Bank boosted its stake in Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after buying an additional 96 shares in the last quarter. Clear Investment Research LLC boosted its position in shares of Salesforce by 816.7% during the 2nd 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 in the last quarter. Godsey & Gibb Inc. increased its stake 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 acquiring an additional 90 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in Salesforce in the second quarter worth about $33,000. Finally, Stephens Consulting LLC lifted its stake in 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. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Citigroup boosted their price objective on Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Robert W. Baird raised their price objective on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Wells Fargo & Company increased their price target on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a report on Thursday, September 19th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $336.37.

Salesforce Price Performance

Shares of NYSE CRM opened at $342.02 on Monday. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $348.86. The company has a market cap of $326.97 billion, a PE ratio of 59.48, a price-to-earnings-growth ratio of 3.10 and a beta of 1.29. The business’s 50 day moving average price is $294.61 and its two-hundred day moving average price is $268.53. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.63 EPS. On average, analysts predict that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

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

Insider Activity

In other news, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 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 $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at $1,998,741.74. The trade was a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,991 shares of company stock worth $43,333,238. Corporate insiders own 3.20% of the company’s stock.

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.