CFC Planning Co LLC Takes Position in Salesforce, Inc. (NYSE:CRM)

CFC Planning Co LLC acquired a new stake in Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,612 shares of the CRM provider’s stock, valued at approximately $2,879,000. Salesforce accounts for about 3.1% of CFC Planning Co LLC’s holdings, making the stock its 7th biggest position.

Other large investors have also bought and sold shares of the company. Rooted Wealth Advisors Inc. raised its position in Salesforce by 34.8% in the fourth quarter. Rooted Wealth Advisors Inc. now owns 992 shares of the CRM provider’s stock worth $322,000 after acquiring an additional 256 shares in the last quarter. Palacios Wealth Management LLC acquired a new position in shares of Salesforce in the 4th quarter worth approximately $1,731,000. Root Financial Partners LLC raised its holdings in shares of Salesforce by 20.7% in the 4th quarter. Root Financial Partners LLC now owns 2,335 shares of the CRM provider’s stock worth $781,000 after purchasing an additional 401 shares in the last quarter. Walkner Condon Financial Advisors LLC lifted its stake in Salesforce by 1.9% during the fourth quarter. Walkner Condon Financial Advisors LLC now owns 2,133 shares of the CRM provider’s stock valued at $713,000 after purchasing an additional 40 shares during the last quarter. Finally, Figure 8 Investment Strategies LLC bought a new stake in Salesforce during the fourth quarter worth approximately $402,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of NYSE:CRM opened at $330.19 on Friday. The stock has a market capitalization of $315.99 billion, a P/E ratio of 54.31, a P/E/G ratio of 2.66 and a beta of 1.31. The business has a 50-day moving average of $337.91 and a two-hundred day moving average of $302.13. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. 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 (NYSE:CRM) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same quarter last year, the firm posted $1.62 earnings per share. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, equities research analysts predict that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.48%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Insider Buying and Selling

In other news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the transaction, the chief financial officer now directly owns 45,861 shares in the company, valued at approximately $15,128,626.68. The trade was a 11.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Parker Harris sold 652 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $216,646.56. Following the sale, the insider now owns 121,467 shares of the company’s stock, valued at approximately $40,361,054.76. The trade was a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,111,420 shares of company stock worth $384,366,700 in the last quarter. 3.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Bank of America upped their price target on Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Scotiabank boosted their target price on Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and lifted their price target for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. Royal Bank of Canada upped their price objective on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $377.63.

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.