Asset Dedication LLC Increases Stock Position in Salesforce, Inc. (NYSE:CRM)

Asset Dedication LLC lifted its holdings in Salesforce, Inc. (NYSE:CRM) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,072 shares of the CRM provider’s stock after buying an additional 158 shares during the quarter. Asset Dedication LLC’s holdings in Salesforce were worth $3,104,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Gilbert & Cook Inc. boosted its position in shares of Salesforce by 6.9% in the 4th quarter. Gilbert & Cook Inc. now owns 5,659 shares of the CRM provider’s stock worth $1,489,000 after purchasing an additional 366 shares in the last quarter. Aveo Capital Partners LLC boosted its holdings in Salesforce by 44.7% in the fourth quarter. Aveo Capital Partners LLC now owns 1,605 shares of the CRM provider’s stock worth $422,000 after acquiring an additional 496 shares in the last quarter. 9258 Wealth Management LLC grew its stake in shares of Salesforce by 24.0% in the fourth quarter. 9258 Wealth Management LLC now owns 6,483 shares of the CRM provider’s stock worth $1,706,000 after acquiring an additional 1,253 shares during the last quarter. Gryphon Financial Partners LLC grew its stake in shares of Salesforce by 32.4% in the fourth quarter. Gryphon Financial Partners LLC now owns 3,960 shares of the CRM provider’s stock worth $1,064,000 after acquiring an additional 970 shares during the last quarter. Finally, AGF Management Ltd. bought a new position in shares of Salesforce during the fourth quarter valued at $280,000. 80.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $229,434.66. Following the completion of the transaction, the chief financial officer now directly owns 51,109 shares of the company’s stock, valued at approximately $13,072,660.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the sale, the chief accounting officer now owns 6,431 shares in the company, valued at approximately $1,644,921.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $229,434.66. Following the transaction, the chief financial officer now directly owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 83,692 shares of company stock worth $21,006,957. Insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

CRM opened at $243.97 on Friday. The stock has a market capitalization of $236.41 billion, a price-to-earnings ratio of 43.88, a PEG ratio of 2.22 and a beta of 1.29. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.04. The company has a fifty day moving average of $254.52 and a 200 day moving average of $269.68.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter last year, the business posted $1.63 earnings per share. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Salesforce, Inc. will post 7.52 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Canaccord Genuity Group increased their price objective on shares of Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Wells Fargo & Company increased their price target on shares of Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, August 29th. Barclays decreased their price objective on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Raymond James increased their target price on Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 29th. Finally, Roth Mkm restated a “buy” rating and issued a $335.00 price target on shares of Salesforce in a research note on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $304.41.

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.