RMR Wealth Builders Raises Stock Holdings in Salesforce, Inc. (NYSE:CRM)

RMR Wealth Builders boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 5.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 8,210 shares of the CRM provider’s stock after purchasing an additional 440 shares during the quarter. RMR Wealth Builders’ holdings in Salesforce were worth $2,745,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Nabity Jensen Investment Management Inc bought a new stake in shares of Salesforce in the 3rd quarter valued at approximately $1,215,000. Prime Capital Investment Advisors LLC increased its stake in Salesforce by 13.6% during the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after purchasing an additional 6,938 shares during the last quarter. Aljian Capital Management LLC increased its stake in Salesforce by 16.1% during the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after purchasing an additional 1,834 shares during the last quarter. AIA Group Ltd raised its holdings in shares of Salesforce by 8.9% during the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after purchasing an additional 1,962 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after buying an additional 257,501 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Price Performance

Shares of CRM stock opened at $321.01 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The firm has a fifty day moving average of $336.76 and a 200-day moving average of $290.66. The firm has a market capitalization of $307.21 billion, a price-to-earnings ratio of 52.80, a price-to-earnings-growth ratio of 3.20 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.62 earnings per share. On average, equities research analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is 26.32%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Barclays raised their target price on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Macquarie reissued a “neutral” rating and issued a $370.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Cfra set a $343.00 target price on Salesforce in a research report on Thursday, October 17th. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a research note on Friday, December 13th. Finally, UBS Group lifted their price objective on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $376.05.

Insider Buying and Selling

In related news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the transaction, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider R David Schmaier sold 1,785 shares of Salesforce stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total transaction of $614,040.00. Following the completion of the sale, the insider now owns 19,116 shares in the company, valued at $6,575,904. The trade was a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,177,617 shares of company stock worth $403,542,975 over the last ninety days. Company insiders own 3.20% of the company’s stock.

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