OMC Financial Services LTD Has $3.81 Million Holdings in Salesforce, Inc. (NYSE:CRM)

OMC Financial Services LTD lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,390 shares of the CRM provider’s stock after buying an additional 31 shares during the quarter. Salesforce comprises approximately 1.6% of OMC Financial Services LTD’s investment portfolio, making the stock its 15th biggest holding. OMC Financial Services LTD’s holdings in Salesforce were worth $3,808,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CRM. Veritas Asset Management LLP acquired a new stake in Salesforce during the 3rd quarter worth $733,805,000. Jennison Associates LLC boosted its position in shares of Salesforce by 52.7% in the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after purchasing an additional 1,530,572 shares during the last quarter. Swedbank AB grew its stake in shares of Salesforce by 46.7% during the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after purchasing an additional 1,219,254 shares during the period. KBC Group NV increased its holdings in Salesforce by 171.2% in the third quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock valued at $447,470,000 after purchasing an additional 1,032,068 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Salesforce by 23,664.2% in the third quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock valued at $274,490,000 after buying an additional 998,628 shares during the period. 80.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

CRM has been the subject of a number of recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $405.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Scotiabank upped their target price on shares of Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Morgan Stanley lifted their price target on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. UBS Group upped their price objective on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Truist Financial reiterated a “buy” rating and set a $400.00 target price (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

Insider Activity

In other news, insider Parker Harris sold 652 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $216,646.56. Following the transaction, the insider now owns 121,467 shares in the company, valued at approximately $40,361,054.76. This trade represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,111,420 shares of company stock valued at $384,366,700 over the last ninety days. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Down 1.5 %

Shares of CRM stock opened at $325.81 on Monday. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock has a market cap of $311.80 billion, a price-to-earnings ratio of 53.59, a PEG ratio of 2.66 and a beta of 1.31. The firm’s 50-day moving average is $338.97 and its 200-day moving average is $300.67. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last released its quarterly earnings data 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). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the prior year, the company earned $1.62 EPS. Salesforce’s quarterly revenue was up 8.3% on a year-over-year basis. Sell-side analysts predict 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. Shareholders of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. Salesforce’s dividend payout ratio is currently 26.32%.

About Salesforce

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.