Citizens & Northern Corp Has $2.81 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Citizens & Northern Corp trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,674 shares of the CRM provider’s stock after selling 502 shares during the quarter. Salesforce comprises about 1.0% of Citizens & Northern Corp’s investment portfolio, making the stock its 20th largest holding. Citizens & Northern Corp’s holdings in Salesforce were worth $2,809,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. SageView Advisory Group LLC raised its position in shares of Salesforce by 84.9% in the 3rd quarter. SageView Advisory Group LLC now owns 4,522 shares of the CRM provider’s stock valued at $917,000 after buying an additional 2,077 shares in the last quarter. Syon Capital LLC bought a new stake in Salesforce during the third quarter worth $1,048,000. Jackson Creek Investment Advisors LLC boosted its holdings in shares of Salesforce by 27.3% in the 3rd quarter. Jackson Creek Investment Advisors LLC now owns 2,173 shares of the CRM provider’s stock valued at $441,000 after purchasing an additional 466 shares in the last quarter. Main Street Research LLC acquired a new position in shares of Salesforce during the 3rd quarter worth $20,387,000. Finally, Regent Peak Wealth Advisors LLC lifted its position in shares of Salesforce by 2.1% during the 3rd quarter. Regent Peak Wealth Advisors LLC now owns 2,381 shares of the CRM provider’s stock worth $483,000 after buying an additional 50 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of NYSE CRM traded down $6.13 during trading on Thursday, reaching $277.69. 3,914,763 shares of the stock traded hands, compared to its average volume of 5,295,834. The company has a 50-day moving average of $287.88 and a 200-day moving average of $273.68. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The stock has a market capitalization of $268.80 billion, a P/E ratio of 66.93, a price-to-earnings-growth ratio of 2.51 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the firm posted $1.01 EPS. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. Analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is currently 9.52%.

Insiders Place Their Bets

In other Salesforce news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $285.20, for a total transaction of $1,197,840.00. Following the completion of the sale, the insider now directly owns 115,762 shares in the company, valued at $33,015,322.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $293.39, for a total transaction of $4,400,850.00. Following the sale, the chief executive officer now directly owns 13,386,166 shares in the company, valued at approximately $3,927,367,242.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $285.20, for a total transaction of $1,197,840.00. Following the completion of the transaction, the insider now directly owns 115,762 shares of the company’s stock, valued at approximately $33,015,322.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 630,182 shares of company stock valued at $183,257,351. 3.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have issued reports on CRM. Royal Bank of Canada reiterated an “outperform” rating and issued a $350.00 target price (up previously from $325.00) on shares of Salesforce in a research report on Friday, April 12th. JMP Securities reissued a “market outperform” rating and issued a $342.00 price objective on shares of Salesforce in a research note on Monday, April 15th. Wedbush boosted their target price on shares of Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. UBS Group boosted their target price on shares of Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Finally, BMO Capital Markets raised their price target on shares of Salesforce from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $310.94.

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.