CFC Planning Co LLC Purchases Shares of 8,612 Salesforce, Inc. (NYSE:CRM)

CFC Planning Co LLC acquired a new position in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, Holdings Channel.com reports. The fund acquired 8,612 shares of the CRM provider’s stock, valued at approximately $2,879,000. Salesforce accounts for approximately 3.1% of CFC Planning Co LLC’s investment portfolio, making the stock its 7th biggest position.

Other institutional investors and hedge funds have also modified their holdings of the company. RBA Wealth Management LLC increased its holdings in Salesforce by 3.7% in the 3rd quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock valued at $4,426,000 after buying an additional 574 shares during the period. Creative Planning increased its stake in Salesforce by 8.0% in the third quarter. Creative Planning now owns 233,743 shares of the CRM provider’s stock valued at $63,978,000 after acquiring an additional 17,350 shares during the period. Wolff Wiese Magana LLC increased its stake in Salesforce by 1.3% in the third quarter. Wolff Wiese Magana LLC now owns 3,235 shares of the CRM provider’s stock valued at $885,000 after acquiring an additional 42 shares during the period. AAFMAA Wealth Management & Trust LLC raised its position in Salesforce by 2.3% in the third quarter. AAFMAA Wealth Management & Trust LLC now owns 8,119 shares of the CRM provider’s stock worth $2,222,000 after purchasing an additional 186 shares in the last quarter. Finally, Alliance Wealth Advisors LLC lifted its stake in Salesforce by 9.5% during the third quarter. Alliance Wealth Advisors LLC now owns 1,927 shares of the CRM provider’s stock worth $527,000 after purchasing an additional 167 shares during the period. 80.43% of the stock is currently owned by institutional investors.

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 dated Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the transaction, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. The trade was a 11.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Brian Millham sold 14,808 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $338.95, for a total value of $5,019,171.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,111,420 shares of company stock valued at $384,366,700. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

CRM stock opened at $330.19 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The business’s fifty day moving average is $337.91 and its 200-day moving average is $302.13. The company has a market cap of $315.99 billion, a P/E ratio of 54.31, a price-to-earnings-growth ratio of 2.66 and a beta of 1.31.

Salesforce (NYSE:CRM) last released 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). The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.62 EPS. Equities research analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Bank of America increased their target price on Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Cfra set a $343.00 price objective on Salesforce in a research note on Thursday, October 17th. Canaccord Genuity Group lifted their price objective on Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Wedbush reaffirmed an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Finally, JMP Securities reissued a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

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.