DT Investment Partners LLC Boosts Stake in Salesforce, Inc. (NYSE:CRM)

DT Investment Partners LLC lifted its holdings in Salesforce, Inc. (NYSE:CRM) by 21.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 807 shares of the CRM provider’s stock after purchasing an additional 145 shares during the period. DT Investment Partners LLC’s holdings in Salesforce were worth $221,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Wealthcare Advisory Partners LLC increased its holdings in Salesforce by 3.5% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 6,763 shares of the CRM provider’s stock worth $2,037,000 after acquiring an additional 228 shares in the last quarter. Artemis Investment Management LLP increased its stake in shares of Salesforce by 0.5% during the first quarter. Artemis Investment Management LLP now owns 33,650 shares of the CRM provider’s stock worth $10,129,000 after purchasing an additional 152 shares in the last quarter. Register Financial Advisors LLC acquired a new position in shares of Salesforce during the 1st quarter worth about $192,000. Kathmere Capital Management LLC purchased a new position in Salesforce in the 1st quarter valued at about $227,000. Finally, Norway Savings Bank boosted its holdings in Salesforce by 5.5% in the 1st quarter. Norway Savings Bank now owns 8,344 shares of the CRM provider’s stock worth $2,513,000 after buying an additional 438 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock opened at $286.74 on Friday. The stock has a market capitalization of $277.85 billion, a price-to-earnings ratio of 51.57, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The business has a 50-day moving average of $268.70 and a 200 day moving average of $263.24. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.63 earnings per share. As a group, sell-side analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current 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 given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 28.78%.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $255,905.13. Following the completion of the transaction, the chief financial officer now owns 52,930 shares in the company, valued at approximately $15,100,399.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the sale, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,812 shares of company stock worth $23,418,916. 3.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. BMO Capital Markets raised their target price on Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. UBS Group raised 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. Oppenheimer reaffirmed an “outperform” rating and set a $330.00 target price (up previously from $300.00) on shares of Salesforce in a research note on Thursday. Robert W. Baird increased their target price on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, Truist Financial restated a “buy” rating and set a $315.00 price target (up from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $312.51.

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.