UMB Bank n.a. Has $29.27 Million Stake in Salesforce, Inc. (NYSE:CRM)

UMB Bank n.a. decreased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 87,532 shares of the CRM provider’s stock after selling 879 shares during the quarter. UMB Bank n.a.’s holdings in Salesforce were worth $29,265,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Pacer Advisors Inc. grew its position in Salesforce by 14.5% in the 2nd quarter. Pacer Advisors Inc. now owns 96,205 shares of the CRM provider’s stock valued at $24,734,000 after purchasing an additional 12,193 shares during the period. Kowal Investment Group LLC acquired a new stake in Salesforce in the 2nd quarter valued at $215,000. Profund Advisors LLC grew its position in Salesforce by 5.2% in the 2nd quarter. Profund Advisors LLC now owns 41,754 shares of the CRM provider’s stock valued at $10,735,000 after purchasing an additional 2,053 shares during the period. ProShare Advisors LLC grew its position in Salesforce by 8.7% in the 2nd quarter. ProShare Advisors LLC now owns 296,331 shares of the CRM provider’s stock valued at $76,187,000 after purchasing an additional 23,750 shares during the period. Finally, Holderness Investments Co. lifted its stake in Salesforce by 22.1% during the 2nd quarter. Holderness Investments Co. now owns 2,373 shares of the CRM provider’s stock valued at $610,000 after acquiring an additional 430 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was 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 in the company, valued at $15,100,399.70. This trade represents a 1.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of 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 90 days, insiders sold 1,183,838 shares of company stock valued at $405,595,158. 3.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. UBS Group raised their price objective on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Cfra set a $343.00 price objective on Salesforce in a research note on Thursday, October 17th. Robert W. Baird raised their price objective on Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Needham & Company LLC raised their price objective on Salesforce from $375.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Oppenheimer restated an “outperform” rating and set a $415.00 price objective (up from $385.00) on shares of Salesforce 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 issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce Stock Performance

Shares of CRM stock opened at $324.77 on Monday. The stock has a fifty day moving average of $337.31 and a 200 day moving average of $291.80. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The firm has a market capitalization of $310.81 billion, a price-to-earnings ratio of 53.42, a PEG ratio of 2.87 and a beta of 1.30. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

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

Salesforce Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

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.