BXM Wealth LLC Buys New Shares in Salesforce, Inc. (NYSE:CRM)

BXM Wealth LLC purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the fourth quarter, Holdings Channel reports. The firm purchased 1,119 shares of the CRM provider’s stock, valued at approximately $374,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. RBA Wealth Management LLC grew its position in Salesforce by 3.7% during the third quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock valued at $4,426,000 after buying an additional 574 shares during the period. Creative Planning lifted its holdings in shares of Salesforce by 8.0% in the third quarter. Creative Planning now owns 233,743 shares of the CRM provider’s stock worth $63,978,000 after buying an additional 17,350 shares in the last quarter. SPC Financial Inc. lifted its holdings in shares of Salesforce by 3.7% in the third quarter. SPC Financial Inc. now owns 1,995 shares of the CRM provider’s stock worth $546,000 after buying an additional 71 shares in the last quarter. Bfsg LLC raised its stake in Salesforce by 4.7% in the third quarter. Bfsg LLC now owns 4,054 shares of the CRM provider’s stock valued at $1,110,000 after purchasing an additional 183 shares in the last quarter. Finally, Good Life Advisors LLC raised its stake in Salesforce by 35.5% in the third quarter. Good Life Advisors LLC now owns 2,216 shares of the CRM provider’s stock valued at $607,000 after purchasing an additional 581 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of NYSE:CRM opened at $325.49 on Friday. The business has a 50 day moving average price of $337.29 and a 200 day moving average price of $302.33. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a market cap of $311.49 billion, a price-to-earnings ratio of 53.53, a PEG ratio of 2.66 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 (NYSE:CRM) last issued 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). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same period in the previous year, the company posted $1.62 earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. Research analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. Salesforce’s dividend payout ratio is currently 26.32%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CRM. Oppenheimer restated an “outperform” rating and issued a $415.00 target price (up previously from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Morgan Stanley lifted their price target on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. JMP Securities reiterated a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, Barclays boosted their price target on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $377.63.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $167,970.00. Following the sale, the chief accounting officer now owns 6,557 shares of the company’s stock, valued at approximately $2,202,758.58. The trade was a 7.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the transaction, the chief financial officer now owns 53,861 shares of the company’s stock, valued at $18,474,323. The trade was a 10.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,111,420 shares of company stock worth $384,366,700 in the last three months. 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.