Tempus Wealth Planning LLC Raises Position in Salesforce, Inc. (NYSE:CRM)

Tempus Wealth Planning LLC boosted its stake in Salesforce, Inc. (NYSE:CRM) by 18.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,303 shares of the CRM provider’s stock after buying an additional 207 shares during the period. Tempus Wealth Planning LLC’s holdings in Salesforce were worth $357,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CRM. Hoxton Planning & Management LLC purchased a new position in shares of Salesforce during the first quarter valued at approximately $220,000. Sound Income Strategies LLC lifted its holdings in shares of Salesforce by 44.5% during the first quarter. Sound Income Strategies LLC now owns 815 shares of the CRM provider’s stock valued at $245,000 after purchasing an additional 251 shares during the last quarter. Brookstone Capital Management lifted its holdings in shares of Salesforce by 1.6% during the first quarter. Brookstone Capital Management now owns 39,088 shares of the CRM provider’s stock valued at $11,773,000 after purchasing an additional 622 shares during the last quarter. Sovereign Financial Group Inc. lifted its holdings in shares of Salesforce by 5.2% during the first quarter. Sovereign Financial Group Inc. now owns 1,147 shares of the CRM provider’s stock valued at $345,000 after purchasing an additional 57 shares during the last quarter. Finally, GoalVest Advisory LLC lifted its holdings in shares of Salesforce by 200.6% during the first quarter. GoalVest Advisory LLC now owns 932 shares of the CRM provider’s stock valued at $281,000 after purchasing an additional 622 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Robert W. Baird lifted their target price on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. JMP Securities reaffirmed a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a research report on Wednesday, August 28th. Canaccord Genuity Group lifted their price target on shares of Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Evercore ISI restated an “outperform” rating and set a $300.00 target price on shares of Salesforce in a research note on Monday, August 26th. Finally, UBS Group lifted their target price on shares of Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $311.66.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $257.28, for a total transaction of $1,080,576.00. Following the transaction, the insider now owns 117,581 shares in the company, valued at approximately $30,251,239.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Parker Harris sold 4,200 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $257.28, for a total value of $1,080,576.00. Following the sale, the insider now owns 117,581 shares in the company, valued at $30,251,239.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brian Millham sold 6,161 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $289.75, for a total transaction of $1,785,149.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 85,502 shares of company stock worth $23,045,186. 3.20% of the stock is owned by corporate insiders.

Salesforce Trading Down 1.0 %

NYSE:CRM opened at $288.24 on Wednesday. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71. The firm has a 50 day moving average of $268.12 and a 200 day moving average of $263.09. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $279.30 billion, a price-to-earnings ratio of 51.84, a PEG ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the prior year, the company posted $1.63 earnings per share. Salesforce’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.56%. Salesforce’s payout ratio is 28.78%.

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.