MWA Asset Management Reduces Holdings in Salesforce, Inc. (NYSE:CRM)

MWA Asset Management cut its position in Salesforce, Inc. (NYSE:CRM) by 11.6% in the third quarter, Holdings Channel reports. The firm owned 3,823 shares of the CRM provider’s stock after selling 504 shares during the period. MWA Asset Management’s holdings in Salesforce were worth $1,046,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of CRM. Piscataqua Savings Bank raised its holdings in shares of Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after buying an additional 96 shares during the last quarter. Clear Investment Research LLC boosted its holdings in shares of Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 98 shares in the last quarter. Stephens Consulting LLC increased its stake in shares of Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 125 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Salesforce in the second quarter valued at about $33,000. Finally, Godsey & Gibb Inc. increased its position in Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Parker Harris sold 3,970 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total value of $1,178,057.80. Following the sale, the insider now directly owns 119,402 shares in the company, valued at $35,431,349.48. This trade represents a 3.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Miguel Milano sold 2,934 shares of Salesforce stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $262.95, for a total value of $771,495.30. Following the sale, the insider now directly owns 3,716 shares in the company, valued at $977,122.20. The trade was a 44.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 140,173 shares of company stock worth $40,146,206. 3.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. FBN Securities raised Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Northland Securities upgraded shares of Salesforce from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $270.00 to $400.00 in a research note on Wednesday, October 2nd. Bank of America lifted their price target on shares of Salesforce from $325.00 to $390.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Loop Capital upped their price target on Salesforce from $270.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a report on Thursday, September 19th. Eight analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $325.36.

Salesforce Price Performance

Shares of NYSE CRM opened at $323.29 on Wednesday. The company has a market capitalization of $309.07 billion, a price-to-earnings ratio of 56.22, a PEG ratio of 2.94 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $348.86. The business has a 50-day moving average of $289.68 and a 200-day moving average of $267.31.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. The company had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. Salesforce’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the company earned $1.63 earnings per share. On average, equities analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is 27.83%.

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