Salesforce, Inc. (NYSE:CRM) Shares Acquired by Quadrant Private Wealth Management LLC

Quadrant Private Wealth Management LLC increased its holdings in Salesforce, Inc. (NYSE:CRM) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 17,724 shares of the CRM provider’s stock after buying an additional 202 shares during the period. Salesforce makes up approximately 1.5% of Quadrant Private Wealth Management LLC’s holdings, making the stock its 20th largest holding. Quadrant Private Wealth Management LLC’s holdings in Salesforce were worth $5,933,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CRM. RBA Wealth Management LLC grew its position 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 last quarter. Creative Planning lifted its stake in shares of Salesforce by 8.0% in the 3rd quarter. Creative Planning now owns 233,743 shares of the CRM provider’s stock worth $63,978,000 after acquiring an additional 17,350 shares during the period. SPC Financial Inc. boosted its holdings in shares of Salesforce by 3.7% in the third quarter. SPC Financial Inc. now owns 1,995 shares of the CRM provider’s stock valued at $546,000 after acquiring an additional 71 shares in the last quarter. Bfsg LLC increased its stake in shares of Salesforce by 4.7% during the third quarter. Bfsg LLC now owns 4,054 shares of the CRM provider’s stock worth $1,110,000 after acquiring an additional 183 shares during the period. Finally, Good Life Advisors LLC raised its holdings in Salesforce by 35.5% during the third quarter. Good Life Advisors LLC now owns 2,216 shares of the CRM provider’s stock worth $607,000 after purchasing an additional 581 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of NYSE CRM opened at $325.49 on Friday. 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. The company has a market cap of $311.49 billion, a PE ratio of 53.53, a P/E/G ratio of 2.66 and a beta of 1.31. The stock has a 50 day simple moving average of $337.29 and a 200-day simple moving average of $302.33.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s revenue for the quarter 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. On average, equities research analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have weighed in on CRM. Jefferies Financial Group lifted their price objective on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Canaccord Genuity Group upped their price objective on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Morgan Stanley raised their target price on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Oppenheimer reaffirmed an “outperform” rating and set a $415.00 price target (up from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, Needham & Company LLC reissued a “buy” rating and set a $400.00 price objective on shares of Salesforce in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one 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 currently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $2,089,882.74. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $15,705,195. The trade was a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Miguel Milano sold 719 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $342.81, for a total value of $246,480.39. Following the sale, the insider now owns 4,659 shares of the company’s stock, valued at $1,597,151.79. This trade represents a 13.37 % 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 over the last quarter. 3.20% of the stock is currently owned by company insiders.

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.