Muirfield Wealth Advisors LLC Increases Stock Position in Salesforce, Inc. (NYSE:CRM)

Muirfield Wealth Advisors LLC grew its position in shares of Salesforce, Inc. (NYSE:CRM) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,457 shares of the CRM provider’s stock after purchasing an additional 33 shares during the period. Muirfield Wealth Advisors LLC’s holdings in Salesforce were worth $487,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Czech National Bank raised its position in shares of Salesforce by 6.7% during the 3rd quarter. Czech National Bank now owns 197,395 shares of the CRM provider’s stock valued at $54,029,000 after buying an additional 12,314 shares in the last quarter. RBA Wealth Management LLC increased its stake in Salesforce by 3.7% during the third quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock worth $4,426,000 after acquiring an additional 574 shares during the last quarter. GAMMA Investing LLC raised its position in Salesforce by 46.8% during the third quarter. GAMMA Investing LLC now owns 10,328 shares of the CRM provider’s stock valued at $2,827,000 after purchasing an additional 3,292 shares during the period. Herbst Group LLC boosted its holdings in shares of Salesforce by 5.2% in the 3rd quarter. Herbst Group LLC now owns 10,110 shares of the CRM provider’s stock worth $2,767,000 after purchasing an additional 500 shares during the period. Finally, WealthBridge Capital Management LLC bought a new position in shares of Salesforce during the 3rd quarter valued at approximately $219,000. 80.43% of the stock is owned by institutional investors.

Salesforce Price Performance

Shares of NYSE:CRM opened at $341.80 on Monday. 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, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company’s 50 day moving average is $338.67 and its 200 day moving average is $297.99. The company has a market cap of $327.10 billion, a PE ratio of 56.22, a price-to-earnings-growth ratio of 3.09 and a beta of 1.31.

Salesforce (NYSE:CRM) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.62 earnings per share. On average, sell-side analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. DA Davidson upped their price target on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Oppenheimer reissued an “outperform” rating and issued a $415.00 price objective (up previously from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. Royal Bank of Canada upped their target price on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Loop Capital boosted their price objective on Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

Insider Buying and Selling at Salesforce

In other news, insider Parker Harris sold 3,970 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the sale, the insider now directly owns 119,402 shares of the company’s stock, valued at $35,431,349.48. This represents a 3.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Brian Millham sold 708 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $235,254.24. Following the completion of the transaction, the chief operating officer now owns 1,239 shares of the company’s stock, valued at approximately $411,694.92. This represents a 36.36 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,108,669 shares of company stock valued at $383,286,905. 3.20% of the stock is owned by company insiders.

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.