Davidson Capital Management Inc. Has $4.41 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Davidson Capital Management Inc. increased its holdings in Salesforce, Inc. (NYSE:CRM) by 1.2% in the fourth quarter, HoldingsChannel reports. The firm owned 13,189 shares of the CRM provider’s stock after purchasing an additional 152 shares during the period. Salesforce accounts for approximately 1.2% of Davidson Capital Management Inc.’s portfolio, making the stock its 11th biggest holding. Davidson Capital Management Inc.’s holdings in Salesforce were worth $4,409,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Avidian Wealth Enterprises LLC grew its holdings in Salesforce by 15.0% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 2,532 shares of the CRM provider’s stock valued at $846,000 after purchasing an additional 330 shares during the last quarter. Great Lakes Retirement Inc. boosted its holdings in shares of Salesforce by 1.6% during the 4th quarter. Great Lakes Retirement Inc. now owns 9,675 shares of the CRM provider’s stock worth $3,235,000 after buying an additional 149 shares during the period. Kentucky Trust Co bought a new stake in shares of Salesforce during the 4th quarter worth $2,477,000. Perissos Private Wealth Management LLC acquired a new position in Salesforce in the 4th quarter valued at $242,000. Finally, TFB Advisors LLC raised its holdings in Salesforce by 1.9% in the 4th quarter. TFB Advisors LLC now owns 2,024 shares of the CRM provider’s stock worth $677,000 after acquiring an additional 38 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Performance

NYSE CRM opened at $324.50 on Wednesday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a 50 day moving average of $338.89 and a 200-day moving average of $301.53. 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 cap of $310.55 billion, a price-to-earnings ratio of 53.37, a PEG ratio of 2.66 and a beta of 1.31.

Salesforce (NYSE:CRM) last released its quarterly earnings results 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). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same period in the prior year, the business earned $1.62 earnings per share. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors 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 0.49%. Salesforce’s dividend payout ratio is 26.32%.

Insider Buying and Selling

In other news, insider Miguel Milano sold 719 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the sale, the insider now owns 4,659 shares in the company, valued at $1,597,151.79. The trade was a 13.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Brian Millham sold 14,808 shares of the company’s 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 disclosure for this sale can be found here. Insiders have sold a total of 1,111,420 shares of company stock worth $384,366,700 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $400.00 price target on shares of Salesforce in a report on Thursday, February 6th. Wedbush restated an “outperform” rating and set a $425.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Cfra set a $343.00 price target on Salesforce in a research report on Thursday, October 17th. Canaccord Genuity Group upped their price target on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Oppenheimer restated an “outperform” rating and issued a $415.00 price objective (up previously from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $377.63.

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.