Quantum Financial Advisors LLC Sells 76 Shares of Salesforce, Inc. (NYSE:CRM)

Quantum Financial Advisors LLC trimmed its stake in shares of Salesforce, Inc. (NYSE:CRM) by 9.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 765 shares of the CRM provider’s stock after selling 76 shares during the quarter. Quantum Financial Advisors LLC’s holdings in Salesforce were worth $256,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Brown Brothers Harriman & Co. raised its holdings in shares of Salesforce by 5.6% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 21,263 shares of the CRM provider’s stock worth $5,467,000 after buying an additional 1,120 shares in the last quarter. Moors & Cabot Inc. raised its holdings in shares of Salesforce by 1.5% during the 2nd quarter. Moors & Cabot Inc. now owns 38,924 shares of the CRM provider’s stock worth $10,007,000 after buying an additional 572 shares in the last quarter. GDS Wealth Management raised its holdings in shares of Salesforce by 7.7% during the 2nd quarter. GDS Wealth Management now owns 55,378 shares of the CRM provider’s stock worth $14,238,000 after buying an additional 3,940 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of Salesforce by 64.6% during the 2nd quarter. Primecap Management Co. CA now owns 508,600 shares of the CRM provider’s stock worth $130,761,000 after buying an additional 199,700 shares in the last quarter. Finally, Conscious Wealth Investments LLC raised its holdings in shares of Salesforce by 0.8% during the 2nd quarter. Conscious Wealth Investments LLC now owns 9,992 shares of the CRM provider’s stock worth $2,558,000 after buying an additional 81 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Up 1.3 %

Shares of NYSE:CRM opened at $323.31 on Wednesday. The firm has a market cap of $309.41 billion, a P/E ratio of 53.18, a PEG ratio of 3.20 and a beta of 1.30. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The business’s 50 day simple moving average is $336.76 and its two-hundred day simple moving average is $290.66. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last issued 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). The company had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the company earned $1.62 earnings per share. As a group, research analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 897 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the completion of the sale, the chief financial officer now directly owns 52,930 shares of the company’s stock, valued at approximately $15,100,399.70. This trade represents a 1.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $614,040.00. Following the sale, the insider now directly owns 19,116 shares of the company’s stock, valued at $6,575,904. The trade was a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,177,617 shares of company stock valued at $403,542,975. 3.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on CRM. JPMorgan Chase & Co. boosted their price target on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Scotiabank boosted their price target on Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. Canaccord Genuity Group upped their target price on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Bank of America upped their target price on Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Robert W. Baird upped their target price on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $376.05.

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.