Worth Financial Advisory Group LLC Boosts Holdings in Salesforce, Inc. (NYSE:CRM)

Worth Financial Advisory Group LLC raised its stake in shares of Salesforce, Inc. (NYSE:CRM) by 3.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,438 shares of the CRM provider’s stock after buying an additional 76 shares during the quarter. Worth Financial Advisory Group LLC’s holdings in Salesforce were worth $667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CRM. Plimoth Trust Co. LLC boosted its holdings in shares of Salesforce by 2.3% during the 1st quarter. Plimoth Trust Co. LLC now owns 22,143 shares of the CRM provider’s stock valued at $6,669,000 after purchasing an additional 496 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its stake in Salesforce by 1.4% during the first quarter. Azzad Asset Management Inc. ADV now owns 16,014 shares of the CRM provider’s stock valued at $4,823,000 after buying an additional 219 shares during the last quarter. Marest Capital LLC purchased a new position in Salesforce during the 1st quarter valued at approximately $217,000. Albion Financial Group UT increased its stake in Salesforce by 8.8% in the 1st quarter. Albion Financial Group UT now owns 7,891 shares of the CRM provider’s stock worth $2,377,000 after acquiring an additional 641 shares during the last quarter. Finally, BluePath Capital Management LLC raised its holdings in shares of Salesforce by 13.8% during the 1st quarter. BluePath Capital Management LLC now owns 2,298 shares of the CRM provider’s stock worth $692,000 after acquiring an additional 279 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on CRM shares. DA Davidson raised their target price on shares of Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Wells Fargo & Company boosted their target price on shares of Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, August 29th. Canaccord Genuity Group increased their price target on shares of Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Wedbush boosted their price objective on Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Finally, Northland Securities raised Salesforce from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $270.00 to $400.00 in a research note on Wednesday, October 2nd. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $313.37.

Salesforce Trading Up 1.2 %

NYSE CRM opened at $293.81 on Tuesday. Salesforce, Inc. has a 52 week low of $197.08 and a 52 week high of $318.71. The company has a 50 day moving average price of $270.30 and a 200 day moving average price of $262.75. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a market cap of $284.70 billion, a PE ratio of 52.84, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the prior year, the firm posted $1.63 earnings per share. The business’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, sell-side analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is currently 28.78%.

Insider Buying and Selling

In other Salesforce news, COO Brian Millham sold 969 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $286.56, for a total value of $277,676.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $289.87, for a total value of $1,217,454.00. Following the sale, the insider now directly owns 118,514 shares of the company’s stock, valued at $34,353,653.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Brian Millham sold 969 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $286.56, for a total transaction of $277,676.64. The disclosure for this sale can be found here. Insiders sold 83,581 shares of company stock worth $22,616,017 in the last three months. Corporate insiders own 3.20% of the company’s stock.

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.