Whittier Trust Co. Has $32.60 Million Stock Position in Salesforce Inc. (NYSE:CRM)

Whittier Trust Co. increased its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 1.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,497 shares of the CRM provider's stock after acquiring an additional 1,521 shares during the period. Whittier Trust Co.'s holdings in Salesforce were worth $32,603,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Bernard Wealth Management Corp. acquired a new position in Salesforce during the 4th quarter worth $25,000. Accredited Wealth Management LLC acquired a new position in Salesforce during the 4th quarter worth $27,000. Abound Financial LLC acquired a new position in Salesforce during the 1st quarter worth $31,000. Wood Tarver Financial Group LLC acquired a new position in Salesforce during the 4th quarter worth $35,000. Finally, VSM Wealth Advisory LLC acquired a new position in Salesforce during the 4th quarter worth $45,000. 80.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Miguel Milano sold 405 shares of Salesforce stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total value of $106,251.75. Following the completion of the sale, the insider directly owned 9,933 shares in the company, valued at approximately $2,605,922.55. The trade was a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Parker Harris sold 1,142 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total transaction of $299,603.70. Following the transaction, the insider owned 136,824 shares of the company's stock, valued at approximately $35,895,776.40. This represents a 0.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,569 shares of company stock valued at $8,533,528 in the last quarter. Corporate insiders own 3.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CRM. Oppenheimer reissued an "outperform" rating and issued a $370.00 price target on shares of Salesforce in a research note on Tuesday, June 10th. DA Davidson reissued an "underperform" rating and issued a $200.00 price target on shares of Salesforce in a research note on Wednesday, May 28th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $275.00 price target on shares of Salesforce in a research note on Monday. Cantor Fitzgerald downgraded Salesforce from an "overweight" rating to a "cautious" rating in a research note on Thursday, July 10th. Finally, Wells Fargo & Company raised their price objective on Salesforce from $255.00 to $275.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 29th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $348.16.

Salesforce Stock Performance

Shares of NYSE:CRM traded down $1.18 during trading on Wednesday, reaching $256.40. 3,110,462 shares of the stock were exchanged, compared to its average volume of 6,537,846. Salesforce Inc. has a 12 month low of $230.00 and a 12 month high of $369.00. The firm has a market cap of $245.12 billion, a PE ratio of 40.13, a PEG ratio of 2.35 and a beta of 1.36. The stock has a 50-day moving average price of $271.51 and a 200-day moving average price of $287.73. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The company had revenue of $9.83 billion during the quarter, compared to analysts' expectations of $9.74 billion. During the same quarter in the previous year, the company posted $2.44 earnings per share. The business's revenue was up 7.6% on a year-over-year basis. Research analysts expect that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were given a $0.416 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.65%. Salesforce's payout ratio is 25.98%.

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.