Vermont Trust Co. Buys into Salesforce Inc.

Trust Co. of Vermont has acquired a new position in Salesforce Inc., one of the world's leading cloud-based software companies.

The company disclosed that it bought 78,520 shares of CRM provider stock valued at approximately $12,301,000 in the second quarter.

This is not an isolated incident; several other large investors have recently made changes to their positions in CRM. Fred Alger Management LLC boosted its stake by 0.3% in the third quarter and now owns 14,943 shares of Salesforce stock valued at $3,548,000.

Salesforce has been performing well financially, with a revenue increase of 13.3% year-over-year. The company's earnings per share for the current year are anticipated to be $10.27. In addition, Salesforce recently announced a quarterly dividend of $0.44, which represents an annualized dividend and yield of 0.9%. Wall Street analysts have been weighing in on CRM, with Jefferies Financial Group upgrading its rating from 'buy' to 'buy', and Goldman Sachs initiating coverage with a 'neutral' rating.