Cahill Financial Advisors Inc. Has $278,000 Holdings in Salesforce, Inc. (NYSE:CRM)

Cahill Financial Advisors Inc. raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 26.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,015 shares of the CRM provider’s stock after purchasing an additional 212 shares during the quarter. Cahill Financial Advisors Inc.’s holdings in Salesforce were worth $278,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Aviance Capital Partners LLC lifted its position in Salesforce by 0.5% during the third quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock worth $1,860,000 after acquiring an additional 33 shares during the last quarter. Umpqua Bank boosted its stake in Salesforce by 0.4% in the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock valued at $2,110,000 after purchasing an additional 34 shares during the period. Nvwm LLC lifted its holdings in shares of Salesforce by 1.4% during the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock worth $667,000 after buying an additional 36 shares in the last quarter. Prentice Wealth Management LLC increased its position in Salesforce by 1.5% during the third quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock worth $686,000 after acquiring an additional 37 shares during the period. Finally, Private Wealth Management Group LLC raised its position in shares of Salesforce by 11.6% in the third quarter. Private Wealth Management Group LLC now owns 357 shares of the CRM provider’s stock valued at $98,000 after buying an additional 37 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $262.90, for a total transaction of $1,104,180.00. Following the completion of the transaction, the insider now directly owns 117,581 shares in the company, valued at $30,912,044.90. This trade represents a 3.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 147,991 shares of company stock valued at $43,333,238 over the last 90 days. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the topic of a number of analyst reports. Jefferies Financial Group increased their price objective on shares of Salesforce from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 price target on shares of Salesforce in a report on Friday, September 20th. Evercore ISI reaffirmed an “outperform” rating and set a $300.00 target price on shares of Salesforce in a research note on Monday, August 26th. Bank of America raised their price objective on Salesforce from $325.00 to $390.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Cfra set a $343.00 price target on Salesforce in a report on Thursday, October 17th. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $336.37.

Salesforce Price Performance

Shares of Salesforce stock opened at $342.02 on Monday. The business’s 50-day moving average price is $294.61 and its 200-day moving average price is $268.53. The firm has a market capitalization of $326.97 billion, a PE ratio of 59.48, a price-to-earnings-growth ratio of 3.04 and a beta of 1.29. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $348.86. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

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

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 27.83%.

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.