Ullmann Wealth Partners Group LLC Takes $234,000 Position in Salesforce, Inc. (NYSE:CRM)

Ullmann Wealth Partners Group LLC bought a new position in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, HoldingsChannel reports. The fund bought 699 shares of the CRM provider’s stock, valued at approximately $234,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CRM. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Salesforce by 11.8% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 18,356 shares of the CRM provider’s stock valued at $4,719,000 after purchasing an additional 1,937 shares in the last quarter. Waterloo Capital L.P. grew its stake in shares of Salesforce by 42.5% in the 2nd quarter. Waterloo Capital L.P. now owns 1,533 shares of the CRM provider’s stock worth $394,000 after buying an additional 457 shares during the last quarter. SkyOak Wealth LLC purchased a new stake in shares of Salesforce during the 2nd quarter valued at about $215,000. First Eagle Investment Management LLC boosted its holdings in Salesforce by 35.8% in the second quarter. First Eagle Investment Management LLC now owns 2,624,665 shares of the CRM provider’s stock worth $674,801,000 after purchasing an additional 692,493 shares during the last quarter. Finally, Venator Management LLC bought a new stake in Salesforce in the 2nd quarter worth approximately $643,000. 80.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Brian Millham sold 6,161 shares of Salesforce stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $289.75, for a total transaction of $1,785,149.75. Following the transaction, the chief operating officer now directly owns 969 shares in the company, valued at approximately $280,767.75. The trade was a 86.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,183,838 shares of company stock worth $405,595,158. 3.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of research reports. Needham & Company LLC raised their price target on Salesforce from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Royal Bank of Canada upped their target price on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Truist Financial reiterated a “buy” rating and set a $400.00 price target (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Bank of America upped their price objective on Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Macquarie reiterated a “neutral” rating and set a $370.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $376.05.

Salesforce Stock Performance

CRM stock opened at $320.99 on Friday. The firm has a market cap of $307.18 billion, a price-to-earnings ratio of 52.79, a PEG ratio of 2.87 and a beta of 1.30. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business’s fifty day simple moving average is $337.05 and its two-hundred day simple moving average is $290.87.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.62 EPS. Analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

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.