Salesforce, Inc. (NYSE:CRM) Holdings Lifted by Citizens National Bank Trust Department

Citizens National Bank Trust Department grew its position in Salesforce, Inc. (NYSE:CRM) by 1.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,924 shares of the CRM provider’s stock after buying an additional 35 shares during the period. Citizens National Bank Trust Department’s holdings in Salesforce were worth $643,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Calton & Associates Inc. acquired a new stake in shares of Salesforce in the 3rd quarter worth approximately $204,000. Pictet North America Advisors SA acquired a new stake in shares of Salesforce in the 3rd quarter worth approximately $2,668,000. Tempus Wealth Planning LLC lifted its stake in shares of Salesforce by 18.9% in the 3rd quarter. Tempus Wealth Planning LLC now owns 1,303 shares of the CRM provider’s stock worth $357,000 after acquiring an additional 207 shares during the period. BLB&B Advisors LLC lifted its stake in shares of Salesforce by 24.8% in the 3rd quarter. BLB&B Advisors LLC now owns 44,537 shares of the CRM provider’s stock worth $12,190,000 after acquiring an additional 8,858 shares during the period. Finally, Segment Wealth Management LLC lifted its stake in shares of Salesforce by 6.7% in the 3rd quarter. Segment Wealth Management LLC now owns 9,538 shares of the CRM provider’s stock worth $2,611,000 after acquiring an additional 596 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Parker Harris sold 652 shares of Salesforce stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $216,646.56. Following the sale, the insider now owns 121,467 shares in the company, valued at approximately $40,361,054.76. The trade was a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,117,641 shares of company stock worth $386,408,308 in the last quarter. Company insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

CRM has been the subject of a number of research analyst reports. Canaccord Genuity Group upped their price target on shares of Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Citigroup increased their target price on shares of Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Guggenheim lowered shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price for the company. in a research note on Monday, January 6th. Macquarie reissued a “neutral” rating and set a $370.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Finally, Piper Sandler reissued an “overweight” rating and set a $405.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $376.84.

Salesforce Stock Performance

NYSE CRM opened at $324.19 on Thursday. The company’s 50 day moving average is $335.02 and its 200-day moving average is $304.66. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market cap of $310.25 billion, a P/E ratio of 53.32, a price-to-earnings-growth ratio of 2.62 and a beta of 1.31.

Salesforce (NYSE:CRM) last announced its quarterly earnings data 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 net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same period last year, the company posted $1.62 EPS. Salesforce’s revenue for the quarter was up 8.3% on a year-over-year basis. Sell-side analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Announces Dividend

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

About Salesforce

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.