Hixon Zuercher LLC Has $4.06 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Hixon Zuercher LLC trimmed its position in shares of Salesforce, Inc. (NYSE:CRM) by 2.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,823 shares of the CRM provider’s stock after selling 375 shares during the quarter. Salesforce makes up about 1.6% of Hixon Zuercher LLC’s investment portfolio, making the stock its 27th largest holding. Hixon Zuercher LLC’s holdings in Salesforce were worth $4,057,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CRM. HF Advisory Group LLC grew its position in Salesforce by 50.7% in the third quarter. HF Advisory Group LLC now owns 5,410 shares of the CRM provider’s stock worth $1,481,000 after acquiring an additional 1,821 shares in the last quarter. NorthRock Partners LLC boosted its holdings in Salesforce by 26.2% in the third quarter. NorthRock Partners LLC now owns 11,583 shares of the CRM provider’s stock worth $3,170,000 after purchasing an additional 2,403 shares in the last quarter. Crestwood Advisors Group LLC increased its position in Salesforce by 0.3% during the third quarter. Crestwood Advisors Group LLC now owns 294,260 shares of the CRM provider’s stock worth $80,543,000 after buying an additional 826 shares during the last quarter. Global Wealth Management Investment Advisory Inc. raised its holdings in Salesforce by 7.0% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 7,209 shares of the CRM provider’s stock valued at $1,973,000 after buying an additional 470 shares in the last quarter. Finally, Heritage Investors Management Corp lifted its position in shares of Salesforce by 4.4% in the third quarter. Heritage Investors Management Corp now owns 176,473 shares of the CRM provider’s stock worth $48,303,000 after buying an additional 7,357 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Down 0.2 %

Salesforce stock opened at $297.53 on Wednesday. The company has a 50 day moving average of $274.34 and a 200-day moving average of $263.56. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a twelve month low of $204.69 and a twelve month high of $318.71. The stock has a market capitalization of $284.44 billion, a PE ratio of 51.74, a price-to-earnings-growth ratio of 2.67 and a beta of 1.29.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.63 EPS. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.54%. Salesforce’s payout ratio is currently 27.83%.

Insiders Place Their Bets

In other news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $255,905.13. Following the completion of the transaction, the chief financial officer now owns 52,930 shares in the company, valued at $15,100,399.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the completion of the sale, the chief financial officer now owns 52,930 shares in the company, valued at $15,100,399.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total transaction of $608,108.04. Following the completion of the transaction, the insider now directly owns 828 shares of the company’s stock, valued at approximately $202,702.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 146,003 shares of company stock valued at $41,494,084 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on CRM. Canaccord Genuity Group lifted their price target on shares of Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Wells Fargo & Company raised their price target on Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, August 29th. Morgan Stanley increased their price objective on Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Robert W. Baird boosted their target price on shares of Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, DA Davidson boosted their price target on Salesforce from $230.00 to $250.00 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 assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $313.37.

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.