UNIVEST FINANCIAL Corp Decreases Position in Salesforce, Inc. (NYSE:CRM)

UNIVEST FINANCIAL Corp decreased its stake in Salesforce, Inc. (NYSE:CRM) by 0.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,194 shares of the CRM provider’s stock after selling 143 shares during the quarter. Salesforce comprises 1.4% of UNIVEST FINANCIAL Corp’s portfolio, making the stock its 22nd biggest holding. UNIVEST FINANCIAL Corp’s holdings in Salesforce were worth $4,935,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. JFS Wealth Advisors LLC boosted its stake in Salesforce by 11.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock worth $93,000 after buying an additional 36 shares during the period. Fox Hill Wealth Management boosted its stake in shares of Salesforce by 4.0% during the 1st quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock worth $297,000 after purchasing an additional 38 shares during the period. Pinnacle Wealth Planning Services Inc. boosted its stake in shares of Salesforce by 0.8% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after purchasing an additional 38 shares during the period. Glassman Wealth Services grew its holdings in Salesforce by 2.9% during the 4th quarter. Glassman Wealth Services now owns 1,369 shares of the CRM provider’s stock valued at $360,000 after purchasing an additional 39 shares during the last quarter. Finally, Blue Barn Wealth LLC raised its position in Salesforce by 1.8% in the 1st quarter. Blue Barn Wealth LLC now owns 2,207 shares of the CRM provider’s stock worth $665,000 after purchasing an additional 39 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 0.9 %

Salesforce stock opened at $244.02 on Friday. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The stock has a market cap of $236.46 billion, a PE ratio of 43.89, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.04. The stock has a 50-day moving average of $254.52 and a two-hundred day moving average of $269.79.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The company had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. Salesforce’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period last year, the business earned $1.63 EPS. On average, research analysts anticipate that Salesforce, Inc. will post 7.52 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.66%. Salesforce’s payout ratio is presently 28.78%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CRM shares. Wells Fargo & Company boosted their target price on Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, August 29th. UBS Group boosted their price objective on Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Roth Mkm reiterated a “buy” rating and issued a $335.00 target price on shares of Salesforce in a research note on Thursday, August 29th. JPMorgan Chase & Co. boosted their target price on shares of Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, TD Cowen upped their price target on shares of Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $304.41.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the sale, the chief accounting officer now owns 6,431 shares in the company, valued at $1,644,921.18. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $241.74, for a total value of $3,626,100.00. Following the completion of the transaction, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at approximately $2,940,152,355.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the sale, the chief accounting officer now directly owns 6,431 shares in the company, valued at $1,644,921.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 83,692 shares of company stock valued at $21,006,957. Company insiders own 3.20% of the company’s stock.

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.