John G Ullman & Associates Inc. Sells 275 Shares of Salesforce, Inc. (NYSE:CRM)

John G Ullman & Associates Inc. trimmed its holdings in Salesforce, Inc. (NYSE:CRM) by 2.0% in the 4th quarter, Holdings Channel reports. The fund owned 13,525 shares of the CRM provider’s stock after selling 275 shares during the quarter. John G Ullman & Associates Inc.’s holdings in Salesforce were worth $4,522,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CRM. JFS Wealth Advisors LLC boosted its position in shares of Salesforce by 27.4% in the third quarter. JFS Wealth Advisors LLC now owns 512 shares of the CRM provider’s stock valued at $140,000 after acquiring an additional 110 shares during the period. Eads & Heald Wealth Management raised its stake in shares of Salesforce by 7.9% in the third quarter. Eads & Heald Wealth Management now owns 2,841 shares of the CRM provider’s stock valued at $778,000 after purchasing an additional 207 shares in the last quarter. Roanoke Asset Management Corp NY raised its stake in shares of Salesforce by 2.7% in the third quarter. Roanoke Asset Management Corp NY now owns 22,165 shares of the CRM provider’s stock valued at $6,067,000 after purchasing an additional 580 shares in the last quarter. Weatherly Asset Management L. P. acquired a new position in shares of Salesforce in the third quarter valued at $213,000. Finally, Dash Acquisitions Inc. raised its stake in shares of Salesforce by 4.8% in the third quarter. Dash Acquisitions Inc. now owns 58,996 shares of the CRM provider’s stock valued at $17,136,000 after purchasing an additional 2,679 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Miguel Milano sold 458 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the sale, the insider now directly owns 5,864 shares in the company, valued at approximately $1,805,936.08. This represents a 7.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,102,572 shares of company stock valued at $381,283,706 over the last 90 days. 3.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their target price on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Bank of America cut their target price on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday. BMO Capital Markets cut their target price on Salesforce from $375.00 to $367.00 and set an “outperform” rating for the company in a research note on Thursday. Oppenheimer dropped their price objective on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Truist Financial reiterated a “buy” rating and set a $400.00 price objective (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $365.32.

Salesforce Price Performance

Shares of CRM opened at $297.63 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The stock has a market cap of $284.83 billion, a P/E ratio of 48.95, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31. The stock’s 50-day moving average price is $329.11 and its two-hundred day moving average price is $307.58.

Salesforce (NYSE:CRM) last issued its 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). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter last year, the business posted $1.62 EPS. Salesforce’s quarterly revenue was up 8.3% on a year-over-year basis. On average, equities analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently announced 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. This represents a $1.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is currently 25.16%.

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.