Morris Financial Concepts Inc. Invests $223,000 in Salesforce, Inc. (NYSE:CRM)

Morris Financial Concepts Inc. bought a new position in shares of Salesforce, Inc. (NYSE:CRMFree Report) in the fourth quarter, HoldingsChannel reports. The firm bought 667 shares of the CRM provider’s stock, valued at approximately $223,000.

Other institutional investors also recently modified their holdings of the company. Arlington Trust Co LLC raised its stake in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new position in Salesforce in the fourth quarter worth about $30,000. Collier Financial bought a new position in Salesforce in the fourth quarter worth about $32,000. Infrastructure Capital Advisors LLC bought a new position in Salesforce in the third quarter worth about $27,000. Finally, Godsey & Gibb Inc. raised its stake in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Trading Up 0.6 %

Shares of CRM stock opened at $326.26 on Thursday. The firm’s 50 day moving average is $338.74 and its 200 day moving average is $301.96. The stock has a market capitalization of $312.23 billion, a P/E ratio of 53.66, a P/E/G ratio of 2.66 and a beta of 1.31. Salesforce, Inc. has a 12-month low of $212.00 and a 12-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.

Salesforce (NYSE:CRMGet Free Report) last issued its quarterly 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). The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.62 EPS. Research analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is presently 26.32%.

Insider Transactions at Salesforce

In other news, COO Brian Millham sold 14,808 shares of Salesforce stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $338.95, for a total transaction of $5,019,171.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,111,420 shares of company stock worth $384,366,700 in the last 90 days. 3.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CRM shares. DA Davidson increased their price target on shares of Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Barclays increased their price target on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Royal Bank of Canada increased their price target on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Jefferies Financial Group raised their target price on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Macquarie reaffirmed a “neutral” rating and set a $370.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. One 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

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Salesforce Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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