Quilter Plc Buys 4,771 Shares of Salesforce, Inc. (NYSE:CRM)

Quilter Plc boosted its stake in Salesforce, Inc. (NYSE:CRM) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 161,083 shares of the CRM provider’s stock after purchasing an additional 4,771 shares during the quarter. Quilter Plc’s holdings in Salesforce were worth $41,414,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CRM. Ruedi Wealth Management Inc. boosted its position in shares of Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 56 shares during the period. Piscataqua Savings Bank lifted its stake in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. Red Tortoise LLC purchased a new stake in Salesforce in the 1st quarter worth approximately $33,000. Clear Investment Research LLC boosted its holdings in Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares during the period. Finally, Stephens Consulting LLC grew its position in shares of Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 0.5 %

Shares of NYSE:CRM opened at $254.57 on Friday. The stock’s 50-day moving average is $253.56 and its 200 day moving average is $268.14. The company has a market cap of $246.68 billion, a PE ratio of 45.79, a P/E/G ratio of 2.26 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71.

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

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.63%. Salesforce’s dividend payout ratio is 28.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Piper Sandler increased their price objective on Salesforce from $250.00 to $268.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Wells Fargo & Company lifted their price target on Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, August 29th. Robert W. Baird upped their price objective on shares of Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Morgan Stanley raised their target price on shares of Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a research note on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $304.41.

Insider Transactions at Salesforce

In related news, insider Sabastian Niles sold 2,484 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total value of $608,108.04. Following the completion of the transaction, the insider now directly owns 828 shares of the company’s stock, valued at $202,702.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Oscar Munoz purchased 2,051 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were bought at an average cost of $243.69 per share, for a total transaction of $499,808.19. Following the completion of the transaction, the director now directly owns 7,026 shares of the company’s stock, valued at approximately $1,712,165.94. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sabastian Niles sold 2,484 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total value of $608,108.04. Following the completion of the transaction, the insider now owns 828 shares of the company’s stock, valued at approximately $202,702.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,376 shares of company stock valued at $15,878,005. 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.