Beese Fulmer Investment Management Inc. Acquires 1,215 Shares of Salesforce, Inc. (NYSE:CRM)

Beese Fulmer Investment Management Inc. raised its holdings in Salesforce, Inc. (NYSE:CRM) by 4.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,017 shares of the CRM provider’s stock after buying an additional 1,215 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Salesforce were worth $5,496,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Ferguson Wellman Capital Management Inc. increased its stake in shares of Salesforce by 26.5% during the second quarter. Ferguson Wellman Capital Management Inc. now owns 1,473 shares of the CRM provider’s stock worth $311,000 after purchasing an additional 309 shares during the period. Norway Savings Bank increased its stake in shares of Salesforce by 12.2% during the second quarter. Norway Savings Bank now owns 7,426 shares of the CRM provider’s stock worth $1,569,000 after purchasing an additional 810 shares during the period. Brookstone Capital Management increased its stake in shares of Salesforce by 13.0% during the second quarter. Brookstone Capital Management now owns 41,003 shares of the CRM provider’s stock worth $8,594,000 after purchasing an additional 4,724 shares during the period. Gradient Investments LLC increased its stake in shares of Salesforce by 52.3% during the second quarter. Gradient Investments LLC now owns 2,446 shares of the CRM provider’s stock worth $517,000 after purchasing an additional 840 shares during the period. Finally, Sanders Morris Harris LLC bought a new position in shares of Salesforce during the second quarter worth approximately $1,283,000. Institutional investors own 77.52% of the company’s stock.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 1,250 shares of Salesforce stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $208.65, for a total value of $260,812.50. Following the completion of the transaction, the insider now directly owns 100,309 shares of the company’s stock, valued at approximately $20,929,472.85. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Parker Harris sold 1,250 shares of Salesforce stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $208.65, for a total value of $260,812.50. Following the completion of the transaction, the insider now directly owns 100,309 shares of the company’s stock, valued at approximately $20,929,472.85. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 164 shares of Salesforce stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $225.05, for a total value of $36,908.20. Following the completion of the transaction, the chief accounting officer now directly owns 2,230 shares of the company’s stock, valued at $501,861.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 698,191 shares of company stock valued at $152,203,804. Corporate insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CRM. Robert W. Baird increased their target price on Salesforce from $210.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, August 31st. Needham & Company LLC reissued a “buy” rating and set a $250.00 price target on shares of Salesforce in a research report on Friday. Northland Securities increased their price target on Salesforce from $210.00 to $220.00 and gave the stock a “market perform” rating in a research report on Friday, September 1st. Sanford C. Bernstein increased their price target on Salesforce from $145.00 to $153.00 in a research report on Thursday, June 1st. Finally, Loop Capital increased their price target on Salesforce from $215.00 to $230.00 and gave the stock a “hold” rating in a research report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $240.59.

Salesforce Trading Down 1.9 %

CRM traded down $4.17 during midday trading on Friday, hitting $214.61. 9,939,044 shares of the company were exchanged, compared to its average volume of 7,037,322. The firm has a market capitalization of $208.82 billion, a P/E ratio of 134.97, a P/E/G ratio of 1.66 and a beta of 1.19. Salesforce, Inc. has a 1-year low of $126.34 and a 1-year high of $238.22. The firm’s 50 day moving average price is $218.24 and its 200-day moving average price is $206.41. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 30th. The CRM provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.90 by $0.22. The firm had revenue of $8.60 billion for the quarter, compared to the consensus estimate of $8.53 billion. Salesforce had a return on equity of 7.67% and a net margin of 4.77%. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 EPS. As a group, equities analysts forecast that Salesforce, Inc. will post 5.86 EPS for the current fiscal year.

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 relationship intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer service and support at scale.