Roberts Wealth Advisors LLC Buys 312 Shares of Salesforce, Inc. (NYSE:CRM)

Roberts Wealth Advisors LLC grew its stake in Salesforce, Inc. (NYSE:CRM) by 2.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 11,004 shares of the CRM provider’s stock after purchasing an additional 312 shares during the quarter. Roberts Wealth Advisors LLC’s holdings in Salesforce were worth $3,208,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Ruedi Wealth Management Inc. raised its stake in shares of Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares during the last quarter. Piscataqua Savings Bank raised its stake in shares of Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares during the last quarter. Clear Investment Research LLC raised its stake in shares of Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the last quarter. Red Tortoise LLC purchased a new position in shares of Salesforce in the first quarter worth $33,000. Finally, Stephens Consulting LLC raised its stake in shares of Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 125 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Price Performance

Shares of Salesforce stock opened at $288.31 on Wednesday. The stock has a 50 day moving average of $263.98 and a 200 day moving average of $263.46. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The firm has a market cap of $279.37 billion, a PE ratio of 51.85, a PEG ratio of 2.61 and a beta of 1.30. 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 (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion during 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 company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period last year, the company earned $1.63 EPS. On average, research analysts expect that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is 28.78%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CRM. FBN Securities upgraded Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Phillip Securities reiterated an “accumulate” rating and set a $305.00 price objective on shares of Salesforce in a research report on Friday, August 30th. Sanford C. Bernstein upped their price objective on Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Raymond James upped their price objective 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, Erste Group Bank reiterated a “hold” rating on shares of Salesforce in a research report on Wednesday, September 11th. Nine research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $310.74.

Insider Activity

In other news, Director Maynard G. Webb, Jr. sold 9,170 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total value of $2,533,854.40. Following the completion of the sale, the director now directly owns 1,363 shares of the company’s stock, valued at $376,624.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Maynard G. Webb, Jr. sold 9,170 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total value of $2,533,854.40. Following the sale, the director now directly owns 1,363 shares in the company, valued at approximately $376,624.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 897 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $229,434.66. Following the sale, the chief financial officer now directly owns 51,109 shares in the company, valued at $13,072,660.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,412 shares of company stock valued at $20,212,507 in the last ninety days. Insiders own 3.20% of the company’s stock.

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.