Salesforce, Inc. (NYSE:CRM) Holdings Raised by Cambridge Investment Research Advisors Inc.
Cambridge Investment Research Advisors Inc. boosted its position in Salesforce, Inc. (NYSE:CRM – Free Report) by 4.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 133,842 shares of the CRM provider’s stock after purchasing an additional 5,152 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Salesforce were worth $35,219,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Graypoint LLC boosted its position in shares of Salesforce by 0.3% during the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after acquiring an additional 36 shares in the last quarter. Chase Investment Counsel Corp boosted its position in shares of Salesforce by 0.3% during the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock valued at $2,730,000 after acquiring an additional 36 shares in the last quarter. JFS Wealth Advisors LLC boosted its position in shares of Salesforce by 11.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock valued at $93,000 after acquiring an additional 36 shares in the last quarter. Opes Wealth Management LLC boosted its position in shares of Salesforce by 2.9% during the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock valued at $341,000 after acquiring an additional 37 shares in the last quarter. Finally, Prentice Wealth Management LLC boosted its position in shares of Salesforce by 1.7% during the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock valued at $604,000 after acquiring an additional 38 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.
Salesforce Stock Performance
Shares of CRM traded down $5.74 during trading hours on Friday, hitting $272.83. The company had a trading volume of 3,692,813 shares, compared to its average volume of 5,293,972. The firm has a market cap of $264.10 billion, a price-to-earnings ratio of 65.10, a PEG ratio of 2.51 and a beta of 1.30. The business has a fifty day moving average of $287.38 and a 200-day moving average of $273.71. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.
Salesforce (NYSE:CRM – Get Free Report) last released 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. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period last year, the firm earned $1.01 earnings per share. Salesforce’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.
Salesforce Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.40 per share. 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 payout ratio is 9.52%.
Insiders Place Their Bets
In other Salesforce news, CFO Amy E. Weaver sold 942 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $305.46, for a total transaction of $287,743.32. Following the sale, the chief financial officer now directly owns 39,416 shares in the company, valued at $12,040,011.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Amy E. Weaver sold 942 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $305.46, for a total value of $287,743.32. Following the sale, the chief financial officer now directly owns 39,416 shares in the company, valued at approximately $12,040,011.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Brian Millham sold 6,162 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were 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 636,344 shares of company stock worth $184,877,874 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.
Analyst Ratings Changes
CRM has been the subject of a number of research analyst reports. Robert W. Baird boosted their target price on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Bank of America boosted their target price on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Piper Sandler reaffirmed a “neutral” rating and issued a $300.00 target price on shares of Salesforce in a research note on Monday, April 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 target price on shares of Salesforce in a research note on Monday, April 15th. Finally, Oppenheimer boosted their target price on shares of Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Monday, February 12th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $310.94.
Check Out Our Latest Analysis on CRM
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.
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