Worth Financial Advisory Group LLC Boosts Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Worth Financial Advisory Group LLC increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 3.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,438 shares of the CRM provider’s stock after buying an additional 76 shares during the quarter. Worth Financial Advisory Group LLC’s holdings in Salesforce were worth $667,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRM. XN LP lifted its position in shares of Salesforce by 24.2% during the 2nd quarter. XN LP now owns 464,489 shares of the CRM provider’s stock valued at $119,420,000 after buying an additional 90,616 shares in the last quarter. Atomi Financial Group Inc. increased its stake in shares of Salesforce by 27.5% during the third quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock worth $3,284,000 after purchasing an additional 2,589 shares in the last quarter. M&G Plc acquired a new position in shares of Salesforce during the 1st quarter worth about $2,178,000. First Foundation Advisors boosted its holdings in Salesforce by 38.0% in the 1st quarter. First Foundation Advisors now owns 828 shares of the CRM provider’s stock worth $249,000 after buying an additional 228 shares during the last quarter. Finally, Elevated Capital Advisors LLC purchased a new stake in Salesforce during the 3rd quarter worth approximately $523,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CRM shares. Canaccord Genuity Group lifted their price target on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. DA Davidson raised their price target on shares of Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. BNP Paribas raised shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Loop Capital reissued a “hold” rating and issued a $270.00 target price on shares of Salesforce in a research note on Thursday, September 19th. Finally, UBS Group upped their price target on Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $313.37.

Salesforce Stock Up 1.2 %

Shares of CRM opened at $293.81 on Tuesday. The stock has a market capitalization of $284.70 billion, a PE ratio of 52.84, a P/E/G ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a 1 year low of $197.08 and a 1 year high of $318.71. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The company’s 50-day simple moving average is $270.30 and its 200-day simple moving average is $262.75.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.63 earnings per share. Analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 28.78%.

Insider Buying and Selling

In related news, COO Brian Millham sold 969 shares of Salesforce stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $286.56, for a total value of $277,676.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Maynard G. Webb, Jr. sold 9,170 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $276.32, for a total value of $2,533,854.40. Following the transaction, the director now owns 1,363 shares in the company, valued at approximately $376,624.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Brian Millham sold 969 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $286.56, for a total value of $277,676.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,581 shares of company stock worth $22,616,017. Company insiders own 3.20% of the company’s stock.

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.