Leelyn Smith LLC Boosts Holdings in Salesforce, Inc. (NYSE:CRM)

Leelyn Smith LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 3.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,923 shares of the CRM provider’s stock after acquiring an additional 246 shares during the quarter. Leelyn Smith LLC’s holdings in Salesforce were worth $1,895,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Stonebrook Private Inc. lifted its stake in Salesforce by 2.8% in the third quarter. Stonebrook Private Inc. now owns 5,645 shares of the CRM provider’s stock worth $1,545,000 after purchasing an additional 152 shares during the last quarter. Nwam LLC purchased a new stake in shares of Salesforce in the third quarter worth approximately $1,152,000. Meridian Wealth Management LLC lifted its stake in shares of Salesforce by 3.7% during the 3rd quarter. Meridian Wealth Management LLC now owns 23,729 shares of the CRM provider’s stock worth $6,495,000 after acquiring an additional 850 shares during the last quarter. Studio Investment Management LLC boosted its holdings in Salesforce by 1.7% during the 3rd quarter. Studio Investment Management LLC now owns 2,401 shares of the CRM provider’s stock valued at $658,000 after acquiring an additional 41 shares during the period. Finally, Icon Wealth Advisors LLC grew its position in Salesforce by 281.9% in the 3rd quarter. Icon Wealth Advisors LLC now owns 41,159 shares of the CRM provider’s stock valued at $11,266,000 after acquiring an additional 30,382 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

NYSE CRM opened at $342.12 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $348.86. The stock has a 50-day moving average of $294.61 and a 200 day moving average of $268.66. The stock has a market capitalization of $327.07 billion, a price-to-earnings ratio of 59.50, a PEG ratio of 3.04 and a beta of 1.29.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.63 EPS. Sell-side analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 27.83%.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $300.00 target price on shares of Salesforce in a research note on Thursday, September 19th. BMO Capital Markets upped their target price on shares of Salesforce from $305.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Bank of America boosted their price target on Salesforce from $325.00 to $390.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Raymond James lifted their target price on Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. increased their price target on Salesforce from $310.00 to $340.00 and gave the stock an “overweight” rating in a research report on Wednesday. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $336.37.

Insider Buying and Selling

In other news, COO Brian Millham sold 60,522 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $262.90, for a total value of $1,104,180.00. Following the completion of the sale, the insider now owns 117,581 shares of the company’s stock, valued at $30,912,044.90. This trade represents a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 147,991 shares of company stock worth $43,333,238. Insiders own 3.20% of the company’s stock.

About Salesforce

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.