Savvy Advisors Inc. Raises Holdings in Salesforce, Inc. (NYSE:CRM)

Savvy Advisors Inc. increased its holdings in Salesforce, Inc. (NYSE:CRM) by 19.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,183 shares of the CRM provider’s stock after buying an additional 517 shares during the period. Savvy Advisors Inc.’s holdings in Salesforce were worth $871,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Piscataqua Savings Bank lifted its position in Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. Clear Investment Research LLC grew its holdings in Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the last quarter. Stephens Consulting LLC increased its position in shares of Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 125 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce in the 2nd quarter worth $33,000. Finally, Godsey & Gibb Inc. grew its stake in Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Parker Harris sold 3,970 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total value of $1,178,057.80. Following the completion of the sale, the insider now directly owns 119,402 shares of the company’s stock, valued at approximately $35,431,349.48. 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 can be accessed through this hyperlink. In other news, insider Parker Harris sold 3,970 shares of Salesforce stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total value of $1,178,057.80. Following the sale, the insider now owns 119,402 shares of the company’s stock, valued at $35,431,349.48. The trade was 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 accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now directly owns 7,006 shares of the company’s stock, 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 three months, insiders sold 144,373 shares of company stock valued at $41,250,680. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on CRM. Evercore ISI reiterated an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a research note on Monday, August 26th. Sanford C. Bernstein boosted their target price on shares of Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Jefferies Financial Group upped their price target on shares of Salesforce from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Monday. Wedbush lifted their price objective on shares of Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $345.00 target price on shares of Salesforce in a research report on Friday, September 20th. Nine research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $314.80.

Salesforce Trading Up 0.8 %

CRM opened at $344.61 on Tuesday. The business’s 50-day simple moving average is $279.53 and its 200-day simple moving average is $264.83. The company has a market cap of $329.45 billion, a P/E ratio of 59.43, a PEG ratio of 2.91 and a beta of 1.29. Salesforce, Inc. has a one year low of $211.76 and a one year high of $345.15. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The company had revenue of $9.33 billion for 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%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the company earned $1.63 earnings per share. As a group, equities research analysts expect that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is 27.83%.

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.