Brown Lisle Cummings Inc. Grows Position in Salesforce, Inc. (NYSE:CRM)

Brown Lisle Cummings Inc. raised its position in Salesforce, Inc. (NYSE:CRM) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,328 shares of the CRM provider’s stock after buying an additional 174 shares during the quarter. Brown Lisle Cummings Inc.’s holdings in Salesforce were worth $1,781,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Infrastructure Capital Advisors LLC purchased a new position in Salesforce during the 3rd quarter worth $27,000. Godsey & Gibb Inc. grew its stake in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares during the last quarter. Annapolis Financial Services LLC raised its stake in shares of Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after purchasing an additional 80 shares during the last quarter. Friedenthal Financial acquired a new stake in shares of Salesforce during the fourth quarter worth $55,000. Finally, Rosenberg Matthew Hamilton increased its stake in Salesforce by 88.3% in the 4th quarter. Rosenberg Matthew Hamilton now owns 177 shares of the CRM provider’s stock valued at $59,000 after buying an additional 83 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director G Mason Morfit sold 722,300 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the transaction, the director now directly owns 3,192,009 shares in the company, valued at $1,104,786,234.99. The trade was a 18.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,104,699 shares of company stock valued at $382,108,847. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Stock Performance

NYSE CRM opened at $339.28 on Tuesday. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The business’s 50-day moving average price is $338.67 and its 200 day moving average price is $297.99. 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 company has a market capitalization of $324.69 billion, a PE ratio of 55.80, a price-to-earnings-growth ratio of 3.09 and a beta of 1.31.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.62 earnings per share. On average, research analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.47%. Salesforce’s dividend payout ratio is presently 26.32%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Cfra set a $343.00 target price on shares of Salesforce in a report on Thursday, October 17th. Stifel Nicolaus lifted their price objective on Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. JMP Securities reissued a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Citigroup lifted their price target on Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, Truist Financial reaffirmed a “buy” rating and set a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

About Salesforce

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.