Concord Wealth Partners Increases Stock Position in Salesforce, Inc. (NYSE:CRM)

Concord Wealth Partners grew its holdings in Salesforce, Inc. (NYSE:CRM) by 6.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 7,528 shares of the CRM provider’s stock after buying an additional 423 shares during the quarter. Concord Wealth Partners’ holdings in Salesforce were worth $2,517,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Infrastructure Capital Advisors LLC acquired a new position in shares of Salesforce during the 3rd quarter worth $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in Salesforce in the second quarter valued at $33,000. Godsey & Gibb Inc. raised its position in Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 90 shares during the last quarter. Annapolis Financial Services LLC grew its position in shares of Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after purchasing an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new position in shares of Salesforce during the 3rd quarter worth approximately $53,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Down 0.5 %

Shares of Salesforce stock opened at $341.80 on Friday. The stock has a market capitalization of $327.10 billion, a price-to-earnings ratio of 56.22, a PEG ratio of 3.20 and a beta of 1.30. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The business’s 50 day simple moving average is $338.67 and its 200-day simple moving average is $297.37.

Salesforce (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same period in the prior year, the business earned $1.62 earnings per share. Salesforce’s quarterly revenue was up 8.3% on a year-over-year basis. Equities research analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Wall Street Analyst Weigh In

A number of research firms recently commented on CRM. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and increased their price objective for the company from $380.00 to $400.00 in a research note on Friday, January 17th. Northland Securities reaffirmed an “outperform” rating and issued a $440.00 target price (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Robert W. Baird raised their price objective on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. The Goldman Sachs Group raised their price target on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Loop Capital raised their target price on shares of Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the completion of the transaction, the chief financial officer now owns 53,861 shares of the company’s stock, valued at $18,474,323. The trade was a 10.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Parker Harris sold 3,970 shares of the firm’s 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 completion of the sale, the insider now directly owns 119,402 shares in the company, valued at approximately $35,431,349.48. This represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,108,669 shares of company stock worth $383,286,905. 3.20% of the stock is owned by company insiders.

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.