EverSource Wealth Advisors LLC Has $1.74 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

EverSource Wealth Advisors LLC grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 0.6% during the 3rd quarter, Holdings Channel reports. The firm owned 6,356 shares of the CRM provider’s stock after buying an additional 41 shares during the period. EverSource Wealth Advisors LLC’s holdings in Salesforce were worth $1,740,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CRM. Swedbank AB acquired a new position in shares of Salesforce during the 1st quarter worth approximately $874,748,000. Veritas Asset Management LLP acquired a new position in shares of Salesforce during the 3rd quarter worth approximately $733,805,000. Massachusetts Financial Services Co. MA increased its holdings in shares of Salesforce by 48.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after acquiring an additional 1,922,674 shares during the last quarter. AMF Tjanstepension AB increased its holdings in shares of Salesforce by 376.1% during the 2nd quarter. AMF Tjanstepension AB now owns 1,442,453 shares of the CRM provider’s stock worth $370,873,000 after acquiring an additional 1,139,472 shares during the last quarter. Finally, KBC Group NV boosted its stake in Salesforce by 171.2% in the 3rd 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 period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $255,905.13. Following the transaction, the chief financial officer now owns 52,930 shares in the company, valued at approximately $15,100,399.70. The trade was a 1.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Miguel Milano sold 2,934 shares of Salesforce stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $262.95, for a total value of $771,495.30. Following the completion of the transaction, the insider now owns 3,716 shares in the company, valued at approximately $977,122.20. This represents a 44.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 136,117 shares of company stock valued at $39,085,562 over the last 90 days. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wedbush boosted their price target on Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Bank of America upped their target price on Salesforce from $325.00 to $390.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Citigroup upped their target price on Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. TD Cowen increased their price target on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Finally, FBN Securities raised Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Eight 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $326.19.

Salesforce Price Performance

NYSE:CRM opened at $325.70 on Thursday. The firm has a market capitalization of $311.37 billion, a price-to-earnings ratio of 56.64, a P/E/G ratio of 2.94 and a beta of 1.29. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $348.86. The stock has a fifty day moving average of $291.21 and a 200 day moving average of $267.72. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04.

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 company 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 firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company earned $1.63 earnings per share. On average, research analysts expect that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.49%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is currently 27.83%.

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.