Atlanta Consulting Group Advisors LLC Has $1.57 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Atlanta Consulting Group Advisors LLC raised its stake in Salesforce, Inc. (NYSE:CRM) by 111.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,748 shares of the CRM provider’s stock after buying an additional 3,032 shares during the quarter. Atlanta Consulting Group Advisors LLC’s holdings in Salesforce were worth $1,573,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Umpqua Bank lifted its position in Salesforce by 0.4% during the third quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after acquiring an additional 34 shares during the last quarter. Nvwm LLC lifted its holdings in Salesforce by 1.4% during the 3rd quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock worth $667,000 after purchasing an additional 36 shares during the last quarter. Prentice Wealth Management LLC boosted its stake in Salesforce by 1.5% in the 3rd quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock valued at $686,000 after purchasing an additional 37 shares during the period. Private Wealth Management Group LLC grew its holdings in Salesforce by 11.6% in the 3rd quarter. Private Wealth Management Group LLC now owns 357 shares of the CRM provider’s stock valued at $98,000 after buying an additional 37 shares in the last quarter. Finally, Fulton Bank N.A. increased its position in Salesforce by 0.4% during the 3rd quarter. Fulton Bank N.A. now owns 9,269 shares of the CRM provider’s stock worth $2,537,000 after buying an additional 38 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

NYSE CRM opened at $325.26 on Friday. The company has a market capitalization of $310.95 billion, a price-to-earnings ratio of 56.57, a PEG ratio of 2.94 and a beta of 1.29. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $348.86. The stock has a fifty day simple moving average of $286.61 and a 200 day simple moving average of $266.62. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share 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 analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.63 earnings per share. Sell-side analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 27.83%.

Insider Activity

In related news, insider Parker Harris sold 3,970 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the completion of the sale, the insider now owns 119,402 shares of the company’s stock, valued at $35,431,349.48. This trade represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 144,373 shares of company stock valued at $41,250,680. 3.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CRM. Citigroup boosted their target price on shares of Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Evercore ISI restated an “outperform” rating and set a $300.00 target price on shares of Salesforce in a research report on Monday, August 26th. TD Cowen raised their target price on shares of Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Sanford C. Bernstein boosted their price target on Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, BNP Paribas upgraded Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $322.51.

Salesforce Company 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.