Hamilton Capital LLC Invests $211,000 in Salesforce, Inc. (NYSE:CRM)

Hamilton Capital LLC acquired a new stake in Salesforce, Inc. (NYSE:CRM) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 724 shares of the CRM provider’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CRM. Aviance Capital Partners LLC raised its holdings in shares of Salesforce by 0.5% during the third quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock worth $1,860,000 after purchasing an additional 33 shares during the last quarter. EWA LLC boosted its stake in shares of Salesforce by 1.7% in the third quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock worth $548,000 after buying an additional 33 shares during the last quarter. Umpqua Bank grew its holdings in Salesforce by 0.4% during the third quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after acquiring an additional 34 shares during the period. Principal Street Partners LLC raised its position in Salesforce by 1.0% during the third quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock valued at $891,000 after acquiring an additional 34 shares in the last quarter. Finally, Nvwm LLC lifted its holdings in Salesforce by 1.4% in the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock valued at $667,000 after acquiring an additional 36 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 0.2 %

Shares of NYSE:CRM opened at $361.99 on Monday. The company has a market capitalization of $346.42 billion, a price-to-earnings ratio of 59.54, a PEG ratio of 3.27 and a beta of 1.30. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The business has a 50-day moving average price of $309.97 and a 200 day moving average price of $272.80. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

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

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.44%. Salesforce’s dividend payout ratio is presently 26.32%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a report on Tuesday, December 3rd. Canaccord Genuity Group upped their price objective on shares of Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Wells Fargo & Company lifted their price target on Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 12th. Needham & Company LLC raised their price objective on Salesforce from $345.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, BMO Capital Markets boosted their price objective on Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Eight investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $372.86.

Insider Buying and Selling

In related news, insider Miguel Milano sold 719 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $342.81, for a total transaction of $246,480.39. Following the sale, the insider now directly owns 4,659 shares of the company’s stock, valued at $1,597,151.79. This represents a 13.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sabastian Niles sold 2,484 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total transaction of $608,108.04. Following the completion of the transaction, the insider now directly owns 828 shares of the company’s stock, valued at $202,702.68. This represents a 75.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,982 shares of company stock valued at $41,591,457. Corporate insiders own 3.20% of the company’s stock.

About Salesforce

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.