Capital Performance Advisors LLP Boosts Stock Position in Salesforce, Inc. (NYSE:CRM)

Capital Performance Advisors LLP increased its stake in Salesforce, Inc. (NYSE:CRM) by 4.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,652 shares of the CRM provider’s stock after buying an additional 65 shares during the quarter. Capital Performance Advisors LLP’s holdings in Salesforce were worth $435,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Concord Wealth Partners raised its position in shares of Salesforce by 145.4% in the third quarter. Concord Wealth Partners now owns 3,060 shares of the CRM provider’s stock worth $621,000 after buying an additional 1,813 shares in the last quarter. JB Capital LLC raised its holdings in shares of Salesforce by 51.6% in the 3rd quarter. JB Capital LLC now owns 1,643 shares of the CRM provider’s stock valued at $333,000 after acquiring an additional 559 shares in the last quarter. Verdence Capital Advisors LLC boosted its position in shares of Salesforce by 21.7% during the 3rd quarter. Verdence Capital Advisors LLC now owns 1,839 shares of the CRM provider’s stock valued at $373,000 after acquiring an additional 328 shares during the last quarter. Ocean Capital Management LLC grew its holdings in shares of Salesforce by 12.5% during the third quarter. Ocean Capital Management LLC now owns 11,895 shares of the CRM provider’s stock worth $2,412,000 after purchasing an additional 1,321 shares in the last quarter. Finally, Calamos Wealth Management LLC increased its position in shares of Salesforce by 1.6% in the third quarter. Calamos Wealth Management LLC now owns 3,412 shares of the CRM provider’s stock worth $692,000 after purchasing an additional 55 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Up 0.7 %

Salesforce stock traded up $1.97 during trading hours on Monday, hitting $275.63. 3,722,938 shares of the stock traded hands, compared to its average volume of 5,550,575. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The company has a market cap of $266.81 billion, a PE ratio of 65.63, a PEG ratio of 2.10 and a beta of 1.30. The firm’s 50-day moving average price is $293.74 and its two-hundred day moving average price is $267.47. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating 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 firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the business posted $1.01 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. On average, research analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Wall Street Analysts Forecast Growth

CRM has been the subject of several research analyst reports. BMO Capital Markets lifted their target price on shares of Salesforce from $325.00 to $335.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Truist Financial reissued a “buy” rating and issued a $360.00 target price (up previously from $275.00) on shares of Salesforce in a research note on Thursday, February 29th. UBS Group lifted their price target on Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Canaccord Genuity Group reiterated a “buy” rating and set a $350.00 price objective on shares of Salesforce in a research report on Thursday, March 7th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a research note on Monday, April 15th. Nine 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $310.61.

Insiders Place Their Bets

In related news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $275.01, for a total value of $4,125,150.00. Following the transaction, the chief executive officer now directly owns 12,677,327 shares of the company’s stock, valued at approximately $3,486,391,698.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Parker Harris sold 4,200 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $270.93, for a total transaction of $1,137,906.00. Following the transaction, the insider now directly owns 115,762 shares of the company’s stock, valued at approximately $31,363,398.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $275.01, for a total value of $4,125,150.00. Following the completion of the transaction, the chief executive officer now directly owns 12,677,327 shares in the company, valued at approximately $3,486,391,698.27. The disclosure for this sale can be found here. Over the last three months, insiders have sold 619,993 shares of company stock valued at $181,241,324. 3.70% of the stock is currently owned by corporate insiders.

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.