OMC Financial Services LTD Buys 31 Shares of Salesforce, Inc. (NYSE:CRM)

OMC Financial Services LTD lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 0.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,390 shares of the CRM provider’s stock after purchasing an additional 31 shares during the quarter. Salesforce accounts for 1.6% of OMC Financial Services LTD’s holdings, making the stock its 15th biggest holding. OMC Financial Services LTD’s holdings in Salesforce were worth $3,808,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce during the third quarter worth about $27,000. Compass Financial Services Inc bought a new stake in shares of Salesforce during the 4th quarter worth approximately $30,000. Godsey & Gibb Inc. boosted its position 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 acquiring an additional 90 shares in the last quarter. Annapolis Financial Services LLC increased 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 acquiring an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new position in Salesforce during the third quarter valued at approximately $53,000. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the topic of several recent analyst reports. DA Davidson lifted their price target on Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Cfra set a $343.00 target price on Salesforce in a research report on Thursday, October 17th. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and increased their target price for the stock from $380.00 to $400.00 in a report on Friday, January 17th. JMP Securities reaffirmed a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Finally, The Goldman Sachs Group increased their price objective on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Price Performance

Salesforce stock opened at $325.81 on Monday. The stock’s 50 day moving average price is $338.97 and its two-hundred day moving average price is $300.67. The stock has a market capitalization of $311.80 billion, a price-to-earnings ratio of 53.59, a PEG ratio of 2.66 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

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

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Insiders Place Their Bets

In other Salesforce news, COO Brian Millham sold 14,808 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $338.95, for a total value of $5,019,171.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Miguel Milano sold 719 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the sale, the insider now directly owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. The trade was a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,111,420 shares of company stock worth $384,366,700. Corporate insiders own 3.20% of the company’s stock.

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.