Geneos Wealth Management Inc. Has $4.73 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Geneos Wealth Management Inc. cut its holdings in Salesforce, Inc. (NYSE:CRMFree Report) by 0.6% during the fourth quarter, HoldingsChannel reports. The firm owned 14,144 shares of the CRM provider’s stock after selling 90 shares during the period. Geneos Wealth Management Inc.’s holdings in Salesforce were worth $4,729,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Fifth Third Bancorp increased its holdings in shares of Salesforce by 3.4% during the 4th quarter. Fifth Third Bancorp now owns 238,731 shares of the CRM provider’s stock worth $79,815,000 after purchasing an additional 7,752 shares during the period. DGS Capital Management LLC bought a new position in Salesforce during the fourth quarter valued at about $285,000. Sachetta LLC raised its holdings in Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after acquiring an additional 32 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Salesforce by 7,486.6% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 93,467 shares of the CRM provider’s stock worth $31,277,000 after acquiring an additional 92,235 shares during the period. Finally, CX Institutional increased its position in shares of Salesforce by 3.9% during the fourth quarter. CX Institutional now owns 5,858 shares of the CRM provider’s stock valued at $1,959,000 after purchasing an additional 221 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Price Performance

Salesforce stock opened at $333.47 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $319.13 billion, a P/E ratio of 54.85, a PEG ratio of 3.01 and a beta of 1.30. The business has a 50-day moving average of $336.73 and a 200-day moving average of $294.01. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00.

Salesforce (NYSE:CRMGet Free Report) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion during 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 firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.62 EPS. On average, equities analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.48%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is presently 26.32%.

Analysts Set New Price Targets

Several brokerages recently commented on CRM. Scotiabank raised their target price on Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. Stifel Nicolaus lifted their target price on shares of Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Royal Bank of Canada increased their price target on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and raised their price target for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $415.00 price objective (up from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $377.63.

Check Out Our Latest Stock Report on CRM

Insiders Place Their Bets

In related news, CAO Sundeep G. Reddy sold 500 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $290.23, for a total value of $145,115.00. Following the sale, the chief accounting officer now directly owns 6,506 shares of the company’s stock, valued at approximately $1,888,236.38. The trade was a 7.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 317,105 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the transaction, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. This trade represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,173,891 shares of company stock worth $402,840,388. Corporate insiders own 3.20% of the company’s stock.

Salesforce Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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