Beese Fulmer Investment Management Inc. Has $21.34 Million Position in Salesforce, Inc. (NYSE:CRM)

Beese Fulmer Investment Management Inc. decreased its position in Salesforce, Inc. (NYSE:CRM) by 0.6% during the 4th quarter, Holdings Channel reports. The firm owned 63,840 shares of the CRM provider’s stock after selling 405 shares during the quarter. Salesforce makes up 1.8% of Beese Fulmer Investment Management Inc.’s investment portfolio, making the stock its 12th biggest holding. Beese Fulmer Investment Management Inc.’s holdings in Salesforce were worth $21,344,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Fairvoy Private Wealth LLC acquired a new position in Salesforce in the fourth quarter worth $984,000. Ameliora Wealth Management Ltd. bought a new stake in Salesforce during the 4th quarter worth about $67,000. RNC Capital Management LLC acquired a new stake in Salesforce in the 4th quarter valued at about $225,000. Strategic Financial Concepts LLC acquired a new position in shares of Salesforce during the fourth quarter worth approximately $66,695,000. Finally, 1900 Wealth Management LLC grew its stake in shares of Salesforce by 18.5% during the fourth quarter. 1900 Wealth Management LLC now owns 1,011 shares of the CRM provider’s stock valued at $338,000 after purchasing an additional 158 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price objective on shares of Salesforce in a report on Thursday. JPMorgan Chase & Co. lifted their price objective on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. DA Davidson upped their target price on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada lifted 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. Finally, JMP Securities restated a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. One investment 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 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 price target of $377.63.

Salesforce Stock Performance

CRM opened at $330.52 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The business’s 50-day simple moving average is $339.04 and its 200 day simple moving average is $299.65. The firm has a market capitalization of $316.31 billion, a PE ratio of 54.36, a PEG ratio of 3.09 and a beta of 1.31. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

Salesforce (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the prior year, the business posted $1.62 earnings per share. Salesforce’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, sell-side analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.48%. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Insider Buying and Selling

In related news, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the completion of the sale, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,557 shares in the company, valued at approximately $2,202,758.58. This represents a 7.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,111,420 shares of company stock worth $384,366,700. Company insiders own 3.20% of the company’s stock.

Salesforce Company 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.