D.B. Root & Company LLC Takes $218,000 Position in Salesforce, Inc. (NYSE:CRM)

D.B. Root & Company LLC bought a new stake in Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 653 shares of the CRM provider’s stock, valued at approximately $218,000.

A number of other institutional investors have also modified their holdings of CRM. Infrastructure Capital Advisors LLC purchased a new position in Salesforce during the 3rd quarter worth $27,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Salesforce during the second quarter worth about $33,000. Godsey & Gibb Inc. increased its position 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 acquiring an additional 90 shares during the period. Annapolis Financial Services LLC increased its position in Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after acquiring an additional 80 shares during the period. Finally, FSA Wealth Management LLC purchased a new stake in Salesforce during the 3rd quarter valued at approximately $53,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Performance

Shares of CRM opened at $332.67 on Thursday. The company’s 50 day simple moving average is $336.50 and its 200 day simple moving average is $293.20. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $318.37 billion, a price-to-earnings ratio of 54.72, a PEG ratio of 2.95 and a beta of 1.30. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00.

Salesforce (NYSE:CRM) last posted 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 return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same quarter last year, the business earned $1.62 EPS. Salesforce’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, sell-side analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given 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 0.48%. Salesforce’s dividend payout ratio is presently 26.32%.

Insider Activity at Salesforce

In related news, insider R David Schmaier sold 1,785 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total transaction of $614,040.00. Following the completion of the sale, the insider now owns 19,116 shares of the company’s stock, valued at approximately $6,575,904. This represents a 8.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the transaction, the chief financial officer now directly owns 45,861 shares in the company, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,171,198 shares of company stock worth $401,945,558. 3.20% of the stock is owned by company insiders.

Analyst Ratings Changes

CRM has been the topic of a number of recent research reports. Macquarie reissued a “neutral” rating and issued a $370.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Robert W. Baird boosted their price objective on shares of Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Bank of America upped their price objective on shares of Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Morgan Stanley lifted their target price on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, BMO Capital Markets increased their price target on shares of Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating 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 company’s stock. According to MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $377.63.

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.