WCG Wealth Advisors LLC Buys 618 Shares of Salesforce, Inc. (NYSE:CRM)

WCG Wealth Advisors LLC raised its stake in shares of Salesforce, Inc. (NYSE:CRM) by 4.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 15,948 shares of the CRM provider’s stock after purchasing an additional 618 shares during the quarter. WCG Wealth Advisors LLC’s holdings in Salesforce were worth $5,332,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CRM. Tallon Kerry Patrick acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $236,000. MCF Advisors LLC lifted its holdings in shares of Salesforce by 63.8% during the 4th quarter. MCF Advisors LLC now owns 231 shares of the CRM provider’s stock worth $77,000 after acquiring an additional 90 shares during the period. Beaumont Financial Advisors LLC lifted its holdings in shares of Salesforce by 18.0% during the 4th quarter. Beaumont Financial Advisors LLC now owns 2,384 shares of the CRM provider’s stock worth $797,000 after acquiring an additional 364 shares during the period. Sheets Smith Wealth Management lifted its holdings in shares of Salesforce by 3.9% during the 4th quarter. Sheets Smith Wealth Management now owns 1,334 shares of the CRM provider’s stock worth $446,000 after acquiring an additional 50 shares during the period. Finally, Advisory Alpha LLC lifted its holdings in shares of Salesforce by 9.1% during the 4th quarter. Advisory Alpha LLC now owns 2,457 shares of the CRM provider’s stock worth $822,000 after acquiring an additional 205 shares during the period. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group dropped their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Monday, March 31st. Westpark Capital reissued a “buy” rating and issued a $320.00 target price on shares of Salesforce in a report on Wednesday, April 30th. Morgan Stanley lowered their target price on shares of Salesforce from $405.00 to $393.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 target price on shares of Salesforce in a report on Friday, April 25th. Finally, UBS Group set a $350.00 target price on shares of Salesforce in a report on Thursday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $352.36.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $275.00, for a total transaction of $137,500.00. Following the sale, the chief accounting officer now directly owns 11,711 shares of the company’s stock, valued at approximately $3,220,525. This trade represents a 4.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Miguel Milano sold 458 shares of Salesforce stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $307.97, for a total value of $141,050.26. Following the sale, the insider now directly owns 5,864 shares in the company, valued at $1,805,936.08. The trade was a 7.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,306 shares of company stock worth $12,841,368 in the last ninety days. 3.20% of the stock is owned by insiders.

Salesforce Stock Performance

NYSE CRM opened at $283.08 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $272.15 billion, a price-to-earnings ratio of 46.56, a P/E/G ratio of 2.58 and a beta of 1.42. The firm’s 50 day simple moving average is $268.58 and its 200 day simple moving average is $306.75. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a dividend of $0.42 per share. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.59%. Salesforce’s dividend payout ratio (DPR) is currently 26.10%.

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.