Salesforce, Inc. (NYSE:CRM) Position Increased by Procyon Advisors LLC

Procyon Advisors LLC increased its position in Salesforce, Inc. (NYSE:CRM) by 4.1% during the fourth quarter, Holdings Channel reports. The fund owned 32,117 shares of the CRM provider’s stock after purchasing an additional 1,252 shares during the quarter. Procyon Advisors LLC’s holdings in Salesforce were worth $10,738,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Everpar Advisors LLC grew its holdings in shares of Salesforce by 11.7% in the 4th quarter. Everpar Advisors LLC now owns 1,957 shares of the CRM provider’s stock worth $654,000 after acquiring an additional 205 shares during the last quarter. RDA Financial Network acquired a new stake in Salesforce during the fourth quarter valued at $1,567,000. First Pacific Financial raised its stake in shares of Salesforce by 1.2% during the 4th quarter. First Pacific Financial now owns 6,749 shares of the CRM provider’s stock worth $2,256,000 after purchasing an additional 77 shares in the last quarter. Goldstone Financial Group LLC acquired a new stake in shares of Salesforce during the 4th quarter valued at about $253,000. Finally, KMG Fiduciary Partners LLC grew its stake in shares of Salesforce by 2.3% in the 4th quarter. KMG Fiduciary Partners LLC now owns 24,648 shares of the CRM provider’s stock valued at $8,240,000 after buying an additional 549 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the subject of several recent analyst reports. Robert W. Baird upped their price target on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Canaccord Genuity Group increased their price target on Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. UBS Group boosted their price objective on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Barclays boosted their target price on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Citigroup lifted their price objective on Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce Stock Performance

NYSE:CRM opened at $320.99 on Friday. The company has a market capitalization of $307.18 billion, a price-to-earnings ratio of 52.79, a PEG ratio of 2.87 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The business has a 50 day moving average of $337.05 and a 200 day moving average of $290.87.

Salesforce (NYSE:CRM) last posted its earnings results 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 company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.62 earnings per share. On average, sell-side analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed 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 yield of 0.50%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Insiders Place Their Bets

In other news, CAO Sundeep G. Reddy sold 413 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 $117,824.77. Following the completion of the transaction, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the sale, the chief financial officer now owns 45,861 shares in the company, valued at $15,128,626.68. This represents a 11.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,183,838 shares of company stock worth $405,595,158. Company insiders own 3.20% of the company’s stock.

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.