IHT Wealth Management LLC Purchases 3,967 Shares of Salesforce, Inc. (NYSE:CRM)

IHT Wealth Management LLC increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 37.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,539 shares of the CRM provider’s stock after acquiring an additional 3,967 shares during the period. IHT Wealth Management LLC’s holdings in Salesforce were worth $3,985,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CRM. Fisher Asset Management LLC lifted its holdings in shares of Salesforce by 2.6% during the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock worth $3,360,215,000 after purchasing an additional 314,530 shares during the period. Legal & General Group Plc raised its position in Salesforce by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after purchasing an additional 176,641 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Salesforce by 1.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock worth $1,632,599,000 after buying an additional 57,825 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Salesforce by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider’s stock worth $1,618,407,000 after buying an additional 96,381 shares during the period. Finally, Ameriprise Financial Inc. grew its position in shares of 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 buying an additional 877,495 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on CRM shares. Oppenheimer reaffirmed an “outperform” rating and issued a $385.00 price objective (up from $330.00) on shares of Salesforce in a research note on Thursday, November 21st. Wedbush increased their price objective on shares of Salesforce from $325.00 to $375.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. Truist Financial lifted their target price on shares of Salesforce from $315.00 to $380.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Morgan Stanley increased their price target on Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Finally, Bank of America lifted their price objective on Salesforce from $325.00 to $390.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Seven analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $345.31.

Salesforce Trading Up 0.2 %

Shares of CRM stock opened at $331.77 on Wednesday. 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 company has a market capitalization of $317.17 billion, a price-to-earnings ratio of 57.70, a PEG ratio of 3.00 and a beta of 1.30. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $348.86. The company has a 50-day simple moving average of $304.68 and a two-hundred day simple moving average of $271.14.

Salesforce (NYSE:CRM) last released its earnings results 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 15.44% and a return on equity of 12.01%. The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the prior year, the company earned $1.62 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. Research analysts anticipate that Salesforce, Inc. will post 7.54 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is currently 27.83%.

Insider Activity at Salesforce

In related news, insider Miguel Milano sold 719 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $342.81, for a total value of $246,480.39. Following the transaction, the insider now owns 4,659 shares in the company, valued at approximately $1,597,151.79. This represents a 13.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 140,982 shares of company stock worth $41,591,457. 3.20% of the stock is owned by company insiders.

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.