Roberts Wealth Advisors LLC Grows Position in Salesforce, Inc. (NYSE:CRM)

Roberts Wealth Advisors LLC boosted its stake in Salesforce, Inc. (NYSE:CRM) by 2.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,004 shares of the CRM provider’s stock after buying an additional 312 shares during the quarter. Roberts Wealth Advisors LLC’s holdings in Salesforce were worth $3,208,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Research Global Investors increased its position in shares of Salesforce by 26.9% during the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after purchasing an additional 3,044,611 shares during the last quarter. GQG Partners LLC purchased a new stake in shares of Salesforce during the 1st quarter valued at $910,220,000. Swedbank AB purchased a new stake in shares of Salesforce during the 1st quarter valued at $874,748,000. Massachusetts Financial Services Co. MA grew its stake in shares of Salesforce by 48.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after acquiring an additional 1,922,674 shares during the period. Finally, AMF Tjanstepension AB grew its stake in shares of Salesforce by 376.1% during the 2nd quarter. AMF Tjanstepension AB now owns 1,442,453 shares of the CRM provider’s stock worth $370,873,000 after acquiring an additional 1,139,472 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Price Performance

CRM opened at $288.31 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The stock has a market capitalization of $279.37 billion, a PE ratio of 51.85, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. The stock’s 50 day moving average price is $263.98 and its 200-day moving average price is $263.46.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the previous year, the firm earned $1.63 earnings per share. The business’s revenue was up 8.5% compared to the same quarter last year. On average, equities research analysts predict that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.55%. Salesforce’s dividend payout ratio is presently 28.78%.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction that occurred 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 directly owns 6,431 shares in the company, valued at $1,644,921.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $229,434.66. Following the sale, the chief financial officer now directly owns 51,109 shares of the company’s stock, valued at approximately $13,072,660.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the sale, the chief accounting officer now directly owns 6,431 shares in the company, valued at $1,644,921.18. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,412 shares of company stock worth $20,212,507 over the last ninety days. 3.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CRM shares. DA Davidson increased their price target on Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Loop Capital reiterated a “hold” rating and set a $270.00 price target on shares of Salesforce in a research note on Thursday, September 19th. Stifel Nicolaus increased their price target on Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Northland Securities upgraded Salesforce from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $270.00 to $400.00 in a research note on Wednesday, October 2nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a research note on Friday, September 20th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.74.

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.