Icon Wealth Advisors LLC Purchases 30,382 Shares of Salesforce, Inc. (NYSE:CRM)

Icon Wealth Advisors LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 281.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,159 shares of the CRM provider’s stock after purchasing an additional 30,382 shares during the period. Salesforce makes up approximately 0.4% of Icon Wealth Advisors LLC’s investment portfolio, making the stock its 26th largest holding. Icon Wealth Advisors LLC’s holdings in Salesforce were worth $11,266,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Piscataqua Savings Bank boosted its position in Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 96 shares during the last quarter. Clear Investment Research LLC lifted its position 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 in the last quarter. Stephens Consulting LLC boosted its holdings in Salesforce by 3,125.0% during 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. Strategic Investment Solutions Inc. IL bought a new position in Salesforce in the second quarter valued at $33,000. Finally, Godsey & Gibb Inc. increased its stake in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on shares of Salesforce from $310.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday. BMO Capital Markets increased their price target on Salesforce from $305.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Stifel Nicolaus upped their price objective on Salesforce from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. TD Cowen raised their target price on shares of Salesforce from $290.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday. Finally, Oppenheimer reiterated an “outperform” rating and issued a $385.00 price target (up previously from $330.00) on shares of Salesforce in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $332.11.

Insiders Place Their Bets

In related news, insider Parker Harris sold 3,528 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $250.59, for a total transaction of $884,081.52. Following the sale, the insider now owns 117,581 shares in the company, valued at $29,464,622.79. The trade was a 2.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Sabastian Niles sold 2,484 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total value of $608,108.04. Following the completion of the transaction, the insider now owns 828 shares of the company’s stock, valued at $202,702.68. This represents a 75.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 133,183 shares of company stock valued at $38,314,066. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Stock Up 3.2 %

Shares of NYSE CRM opened at $336.19 on Friday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $348.86. The stock’s fifty day moving average is $292.86 and its 200 day moving average is $268.20. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $321.40 billion, a P/E ratio of 58.47, a PEG ratio of 2.93 and a beta of 1.29.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating the consensus estimate of $2.36 by $0.20. The company had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.63 EPS. Sell-side analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 27.83%.

Salesforce Company 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.