Daymark Wealth Partners LLC Sells 158 Shares of Salesforce, Inc. (NYSE:CRM)

Daymark Wealth Partners LLC decreased its position in Salesforce, Inc. (NYSE:CRM) by 0.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 174,922 shares of the CRM provider’s stock after selling 158 shares during the period. Salesforce makes up 1.9% of Daymark Wealth Partners LLC’s portfolio, making the stock its 12th largest position. Daymark Wealth Partners LLC’s holdings in Salesforce were worth $58,482,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Veritas Asset Management LLP bought a new position in Salesforce during the third quarter worth about $733,805,000. KBC Group NV lifted its position in shares of 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 buying an additional 1,032,068 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Salesforce by 23,664.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock worth $274,490,000 after acquiring an additional 998,628 shares during the period. Farallon Capital Management LLC increased its holdings in shares of Salesforce by 51.0% during the 2nd quarter. Farallon Capital Management LLC now owns 2,946,838 shares of the CRM provider’s stock worth $757,632,000 after acquiring an additional 994,670 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Salesforce by 25.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,378,826 shares of the CRM provider’s stock valued at $1,125,331,000 after acquiring an additional 877,495 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock opened at $326.85 on Wednesday. The business has a 50-day moving average price of $336.68 and a two-hundred day moving average price of $292.92. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a market cap of $312.79 billion, a P/E ratio of 53.76, a PEG ratio of 2.93 and a beta of 1.30. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 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 company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the business earned $1.62 EPS. As a group, analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

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

Insider Activity at Salesforce

In other Salesforce news, COO Brian Millham sold 969 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $286.56, for a total value of $277,676.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the sale, the chief executive officer now owns 12,162,457 shares in the company, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,172,167 shares of company stock valued at $402,223,235 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CRM. Macquarie restated a “neutral” rating and set a $370.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Robert W. Baird boosted their price target on Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Citigroup raised their price objective on Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Oppenheimer reissued an “outperform” rating and set a $415.00 target price (up from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, Royal Bank of Canada boosted their price target on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $377.63.

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.