JARISLOWSKY FRASER Ltd Buys Shares of 3,600 Salesforce, Inc. (NYSE:CRM)
JARISLOWSKY FRASER Ltd bought a new stake in shares of Salesforce, Inc. (NYSE:CRM – Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,600 shares of the CRM provider’s stock, valued at approximately $947,000.
Other large investors have also recently bought and sold shares of the company. Bear Mountain Capital Inc. purchased a new position in shares of Salesforce during the 4th quarter worth $26,000. Signature Resources Capital Management LLC purchased a new position in shares of Salesforce during the 4th quarter worth $26,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Salesforce during the 4th quarter worth $31,000. Pacifica Partners Inc. lifted its stake in shares of Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares during the period. Finally, BKM Wealth Management LLC purchased a new position in shares of Salesforce during the 4th quarter worth $34,000. Institutional investors and hedge funds own 80.43% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have weighed in on the company. KeyCorp assumed coverage on Salesforce in a research note on Thursday, March 21st. They set a “sector weight” rating on the stock. BMO Capital Markets increased their target price on Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Oppenheimer increased their target price on Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. Piper Sandler reaffirmed a “neutral” rating and issued a $300.00 target price on shares of Salesforce in a research report on Monday, April 15th. Finally, Jefferies Financial Group increased their target price on Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $310.94.
Check Out Our Latest Stock Analysis on Salesforce
Salesforce Stock Down 0.8 %
NYSE:CRM traded down $2.09 during mid-day trading on Tuesday, reaching $270.20. The stock had a trading volume of 3,660,432 shares, compared to its average volume of 5,324,044. The company has a market capitalization of $261.55 billion, a price-to-earnings ratio of 64.06, a price-to-earnings-growth ratio of 2.40 and a beta of 1.30. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The stock’s 50 day simple moving average is $286.38 and its two-hundred day simple moving average is $275.48. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.
Salesforce (NYSE:CRM – Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The business had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the firm earned $1.01 earnings per share. Equities analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current year.
Salesforce Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.59%. Salesforce’s dividend payout ratio is currently 9.52%.
Insiders Place Their Bets
In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $269.53, for a total value of $4,042,950.00. Following the transaction, the chief executive officer now owns 12,707,327 shares of the company’s stock, valued at $3,425,005,846.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $269.53, for a total value of $4,042,950.00. Following the transaction, the chief executive officer now owns 12,707,327 shares of the company’s stock, valued at $3,425,005,846.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Brian Millham sold 6,162 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $283.41, for a total transaction of $1,746,372.42. The disclosure for this sale can be found here. Insiders have sold 618,870 shares of company stock valued at $179,639,684 over the last quarter. 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.
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