Steward Partners Investment Advisory LLC Grows Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Steward Partners Investment Advisory LLC grew its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 3.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 125,570 shares of the CRM provider’s stock after purchasing an additional 4,023 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Salesforce were worth $41,982,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Unified Investment Management purchased a new position in Salesforce in the 4th quarter worth approximately $1,354,000. Meridian Wealth Management LLC raised its holdings in Salesforce by 5.9% in the 4th quarter. Meridian Wealth Management LLC now owns 25,134 shares of the CRM provider’s stock worth $8,403,000 after acquiring an additional 1,405 shares during the last quarter. Financial Council LLC purchased a new position in Salesforce in the 4th quarter worth approximately $206,000. Auxano Advisors LLC purchased a new position in Salesforce in the 4th quarter worth approximately $279,000. Finally, Fidelis Capital Partners LLC raised its holdings in Salesforce by 13.9% in the 4th quarter. Fidelis Capital Partners LLC now owns 11,759 shares of the CRM provider’s stock worth $3,989,000 after acquiring an additional 1,437 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Trading Down 1.8 %

Shares of Salesforce stock opened at $292.60 on Tuesday. The company has a market capitalization of $280.02 billion, a P/E ratio of 48.13, a P/E/G ratio of 2.58 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a fifty day moving average of $328.10 and a 200 day moving average of $308.16. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00.

Salesforce (NYSE:CRM) last announced its quarterly 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 firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.62 EPS. On average, sell-side analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.55%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is currently 25.16%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Bank of America decreased their price objective on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Piper Sandler decreased their price objective on shares of Salesforce from $405.00 to $400.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. DA Davidson cut their target price on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Finally, Wells Fargo & Company cut their target price on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $365.32.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total value of $2,133,803.00. Following the sale, the chief financial officer now owns 53,861 shares in the company, valued at $18,474,323. The trade was a 10.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robin L. Washington purchased 1,695 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was bought at an average price of $294.61 per share, for a total transaction of $499,363.95. Following the purchase, the director now owns 43,445 shares in the company, valued at approximately $12,799,331.45. This represents a 4.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 1,102,572 shares of company stock worth $381,283,706 in the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

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.