Salesforce, Inc. (NYSE:CRM) Shares Purchased by Old Port Advisors

Old Port Advisors raised its stake in Salesforce, Inc. (NYSE:CRM) by 10.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 868 shares of the CRM provider’s stock after acquiring an additional 85 shares during the period. Old Port Advisors’ holdings in Salesforce were worth $290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in CRM. Legacy Capital Wealth Partners LLC acquired a new position in shares of Salesforce in the 2nd quarter valued at $327,000. Founders Financial Securities LLC increased its stake in Salesforce by 7.6% in the second quarter. Founders Financial Securities LLC now owns 3,504 shares of the CRM provider’s stock valued at $901,000 after purchasing an additional 247 shares during the period. Larson Financial Group LLC raised its holdings in shares of Salesforce by 202.7% in the second quarter. Larson Financial Group LLC now owns 3,081 shares of the CRM provider’s stock valued at $792,000 after buying an additional 2,063 shares during the last quarter. GPM Growth Investors Inc. acquired a new stake in shares of Salesforce during the second quarter worth about $2,684,000. Finally, Pursue Wealth Partners LLC grew its holdings in shares of Salesforce by 29.9% during the second quarter. Pursue Wealth Partners LLC now owns 3,780 shares of the CRM provider’s stock worth $972,000 after buying an additional 871 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

NYSE:CRM opened at $330.66 on Friday. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The firm has a market cap of $316.44 billion, a price-to-earnings ratio of 54.38, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. The company’s 50-day moving average is $331.09 and its two-hundred day moving average is $285.02. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.62 EPS. Research analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.48%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the transaction, the chief financial officer now owns 52,930 shares in the company, valued at $15,100,399.70. This trade represents a 1.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider R David Schmaier sold 1,785 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $344.00, for a total value of $614,040.00. Following the sale, the insider now owns 19,116 shares of the company’s stock, valued at approximately $6,575,904. The trade was a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,186,017 shares of company stock valued at $405,971,793. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Macquarie reaffirmed a “neutral” rating and set a $370.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target for the company in a report on Friday, December 13th. Canaccord Genuity Group boosted their price objective on shares of Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Wedbush restated an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Finally, UBS Group boosted their price target on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Eight investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $378.86.

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.