Daymark Wealth Partners LLC Decreases Stake in Salesforce, Inc. (NYSE:CRM)

Daymark Wealth Partners LLC cut its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 174,922 shares of the CRM provider’s stock after selling 158 shares during the quarter. Salesforce makes up approximately 1.9% of Daymark Wealth Partners LLC’s portfolio, making the stock its 12th largest holding. Daymark Wealth Partners LLC’s holdings in Salesforce were worth $58,482,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CRM. Nabity Jensen Investment Management Inc bought a new position in Salesforce in the 3rd quarter worth about $1,215,000. Prime Capital Investment Advisors LLC lifted its holdings in shares of Salesforce by 13.6% in the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after buying an additional 6,938 shares in the last quarter. Aljian Capital Management LLC boosted its position in shares of Salesforce by 16.1% in the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after acquiring an additional 1,834 shares during the period. AIA Group Ltd increased its holdings in Salesforce by 8.9% during the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after acquiring an additional 1,962 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after purchasing an additional 257,501 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 0.7 %

Shares of Salesforce stock opened at $326.85 on Wednesday. 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 12-month low of $212.00 and a 12-month high of $369.00. The company has a market cap of $312.79 billion, a P/E ratio of 53.76, a PEG ratio of 2.93 and a beta of 1.30. The company’s fifty day simple moving average is $336.68 and its two-hundred day simple moving average is $292.92.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.62 EPS. Research analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

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 $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.49%. Salesforce’s payout ratio is 26.32%.

Insiders Place Their Bets

In related news, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $298.04, for a total value of $1,251,768.00. Following the completion of the transaction, the insider now directly owns 119,402 shares in the company, valued at $35,586,572.08. This trade represents a 3.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the sale, the chief financial officer now directly owns 45,861 shares in the company, valued at $15,128,626.68. The trade was a 11.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,172,167 shares of company stock worth $402,223,235. 3.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on CRM. Wedbush reaffirmed an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Royal Bank of Canada raised their price target on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Robert W. Baird boosted their price objective on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Canaccord Genuity Group upped their price objective on shares of Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group lifted their target price on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

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.