Regent Peak Wealth Advisors LLC Grows Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Regent Peak Wealth Advisors LLC lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 4.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,363 shares of the CRM provider’s stock after acquiring an additional 96 shares during the quarter. Regent Peak Wealth Advisors LLC’s holdings in Salesforce were worth $647,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Research Global Investors raised its position in Salesforce by 26.9% during the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after purchasing an additional 3,044,611 shares in the last quarter. GQG Partners LLC purchased a new stake in Salesforce in the first quarter worth about $910,220,000. Swedbank AB purchased a new stake in Salesforce in the first quarter worth about $874,748,000. Massachusetts Financial Services Co. MA grew its holdings in Salesforce by 48.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after acquiring an additional 1,922,674 shares in the last quarter. Finally, AMF Tjanstepension AB increased its position in Salesforce by 376.1% during the 2nd quarter. AMF Tjanstepension AB now owns 1,442,453 shares of the CRM provider’s stock valued at $370,873,000 after purchasing an additional 1,139,472 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of NYSE CRM traded up $0.02 during midday trading on Wednesday, reaching $288.37. 1,110,916 shares of the stock were exchanged, compared to its average volume of 6,436,629. 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 firm has a market cap of $279.43 billion, a price-to-earnings ratio of 51.65, a PEG ratio of 2.61 and a beta of 1.30. The firm has a 50-day simple moving average of $263.98 and a two-hundred day simple moving average of $263.46. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71.

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, 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 previous year, the company earned $1.63 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.55%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is currently 28.78%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 price target on shares of Salesforce in a research report on Friday, September 20th. Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. FBN Securities upgraded Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. 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 report on Thursday, August 29th. Finally, Northland Securities raised shares of Salesforce from a “market perform” rating to an “outperform” rating and increased their price target for the company from $270.00 to $400.00 in a research report on Wednesday, October 2nd. 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 company’s stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $310.74.

Insider Activity

In related news, Director Maynard G. Webb, Jr. sold 9,170 shares of Salesforce stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $276.32, for a total value of $2,533,854.40. Following the sale, the director now owns 1,363 shares of the company’s stock, valued at approximately $376,624.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $288.42, for a total value of $1,211,364.00. Following the transaction, the insider now directly owns 118,514 shares of the company’s stock, valued at approximately $34,181,807.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Maynard G. Webb, Jr. sold 9,170 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the sale, the director now directly owns 1,363 shares of the company’s stock, valued at approximately $376,624.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,412 shares of company stock worth $20,212,507 over the last three months. 3.20% of the stock is currently owned by corporate insiders.

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.