Forza Wealth Management LLC Buys 94 Shares of Salesforce, Inc. (NYSE:CRM)

Forza Wealth Management LLC lifted its position in Salesforce, Inc. (NYSE:CRM) by 9.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,082 shares of the CRM provider’s stock after purchasing an additional 94 shares during the period. Forza Wealth Management LLC’s holdings in Salesforce were worth $362,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC bought a new position in Salesforce in the third quarter worth approximately $27,000. Clear Investment Research LLC raised its position in shares of Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares in the last quarter. Godsey & Gibb Inc. lifted its stake in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Salesforce during the second quarter valued at about $33,000. Finally, Annapolis Financial Services LLC grew its stake in Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after purchasing an additional 80 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Activity

In other news, COO Brian Millham sold 6,161 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $289.75, for a total transaction of $1,785,149.75. Following the completion of the sale, the chief operating officer now directly owns 969 shares of the company’s stock, valued at $280,767.75. The trade was a 86.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total value of $1,217,454.00. Following the sale, the insider now owns 118,514 shares of the company’s stock, valued at $34,353,653.18. This represents a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,181,817 shares of company stock valued at $404,760,429 in the last quarter. Insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Guggenheim cut shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price target on the stock. in a report on Monday, January 6th. Morgan Stanley lifted their price target on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. DA Davidson increased their price objective on Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Canaccord Genuity Group boosted their target price on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $376.05.

Salesforce Price Performance

CRM traded up $0.49 on Monday, reaching $318.34. 2,177,881 shares of the company’s stock were exchanged, compared to its average volume of 4,533,388. The stock has a market cap of $304.65 billion, a PE ratio of 52.36, a P/E/G ratio of 3.21 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The stock’s fifty day moving average price is $335.82 and its 200-day moving average price is $289.73.

Salesforce (NYSE:CRM) last posted its quarterly earnings results 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). The company had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the company earned $1.62 earnings per share. Sell-side analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s payout ratio is presently 26.32%.

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.