SJS Investment Consulting Inc. Boosts Stake in Salesforce, Inc. (NYSE:CRM)

SJS Investment Consulting Inc. lifted its holdings in Salesforce, Inc. (NYSE:CRM) by 354.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 191 shares of the CRM provider’s stock after purchasing an additional 149 shares during the quarter. SJS Investment Consulting Inc.’s holdings in Salesforce were worth $40,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Romano Brothers AND Company increased its position in Salesforce by 2.5% during the second quarter. Romano Brothers AND Company now owns 4,178 shares of the CRM provider’s stock valued at $883,000 after acquiring an additional 100 shares during the last quarter. Phocas Financial Corp. purchased a new stake in Salesforce in the second quarter worth about $210,000. Keel Point LLC increased its position in Salesforce by 8.8% in the second quarter. Keel Point LLC now owns 2,603 shares of the CRM provider’s stock worth $550,000 after buying an additional 211 shares in the last quarter. Patton Fund Management Inc. purchased a new stake in Salesforce in the second quarter worth about $2,654,000. Finally, Beacon Capital Management LLC increased its position in Salesforce by 30.1% in the second quarter. Beacon Capital Management LLC now owns 848 shares of the CRM provider’s stock worth $179,000 after buying an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 77.52% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on CRM shares. Loop Capital upped 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. Evercore ISI upped their price target on Salesforce from $240.00 to $275.00 and gave the stock an “outperform” rating in a research report on Thursday, August 31st. Barclays upped their price objective on Salesforce from $245.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, August 31st. Morgan Stanley lowered Salesforce from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $251.00 to $278.00 in a research note on Monday, July 31st. Finally, Northland Securities upped their price objective on Salesforce from $210.00 to $220.00 and gave the stock a “market perform” rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $240.59.

Salesforce Stock Down 0.5 %

NYSE CRM traded down $1.10 during midday trading on Tuesday, hitting $213.90. 1,449,247 shares of the company traded hands, compared to its average volume of 6,990,592. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $208.12 billion, a PE ratio of 135.23, a price-to-earnings-growth ratio of 1.62 and a beta of 1.19. The company’s 50-day simple moving average is $218.24 and its 200-day simple moving average is $206.68. Salesforce, Inc. has a 52 week low of $126.34 and a 52 week high of $238.22.

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

Insider Transactions at Salesforce

In other news, insider Brent Hyder sold 48,737 shares of the firm’s stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $221.50, for a total value of $10,795,245.50. Following the completion of the sale, the insider now owns 9,418 shares of the company’s stock, valued at approximately $2,086,087. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Salesforce news, CFO Amy E. Weaver sold 16,277 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $225.73, for a total transaction of $3,674,207.21. Following the sale, the chief financial officer now owns 35,611 shares in the company, valued at approximately $8,038,471.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brent Hyder sold 48,737 shares of the business’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $221.50, for a total value of $10,795,245.50. Following the completion of the transaction, the insider now directly owns 9,418 shares of the company’s stock, valued at approximately $2,086,087. The disclosure for this sale can be found here. Insiders sold 633,071 shares of company stock valued at $138,539,253 in the last quarter. 3.70% of the stock is currently owned by corporate insiders.

Salesforce 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 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.