Salesforce, Inc. (NYSE:CRM) Shares Acquired by 1900 Wealth Management LLC

1900 Wealth Management LLC boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 18.5% during the fourth quarter, HoldingsChannel reports. The fund owned 1,011 shares of the CRM provider’s stock after buying an additional 158 shares during the period. 1900 Wealth Management LLC’s holdings in Salesforce were worth $338,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Consolidated Portfolio Review Corp purchased a new stake in Salesforce in the fourth quarter valued at $223,000. Oakworth Capital Inc. increased its position in shares of Salesforce by 130.9% during the 4th quarter. Oakworth Capital Inc. now owns 441 shares of the CRM provider’s stock worth $147,000 after purchasing an additional 250 shares during the last quarter. McHugh Group LLC purchased a new stake in Salesforce in the 4th quarter valued at about $685,000. Silver Oak Securities Incorporated increased its position in shares of Salesforce by 124.5% during the fourth quarter. Silver Oak Securities Incorporated now owns 2,180 shares of the CRM provider’s stock valued at $732,000 after acquiring an additional 1,209 shares during the last quarter. Finally, Financial Advocates Investment Management raised its stake in shares of Salesforce by 2.2% in the 4th quarter. Financial Advocates Investment Management now owns 9,167 shares of the CRM provider’s stock valued at $3,065,000 after acquiring an additional 199 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In related news, COO Brian Millham sold 14,808 shares of Salesforce stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $338.95, for a total value of $5,019,171.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,111,420 shares of company stock worth $384,366,700. Company insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CRM shares. Oppenheimer reaffirmed an “outperform” rating and set a $415.00 price objective (up previously from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. Jefferies Financial Group lifted their price objective on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Scotiabank boosted their price objective on Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. Guggenheim cut Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price for the company. in a report on Monday, January 6th. Finally, Canaccord Genuity Group boosted their price target on shares of Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce Stock Down 5.0 %

Shares of NYSE CRM opened at $330.52 on Friday. The business has a 50-day moving average price of $339.04 and a 200 day moving average price of $299.65. The stock has a market cap of $316.31 billion, a PE ratio of 54.36, a price-to-earnings-growth ratio of 3.09 and a beta of 1.31. 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 52-week low of $212.00 and a 52-week high of $369.00.

Salesforce (NYSE:CRM) last posted its quarterly earnings data 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). The firm 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%. Salesforce’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.62 earnings per share. Equities research analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

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

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.