Salesforce, Inc. (NYSE:CRM) Shares Bought by IFG Advisors LLC

IFG Advisors LLC boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 21.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,700 shares of the CRM provider’s stock after purchasing an additional 300 shares during the period. IFG Advisors LLC’s holdings in Salesforce were worth $568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC raised its position in shares of Salesforce by 27.4% in the third quarter. JFS Wealth Advisors LLC now owns 512 shares of the CRM provider’s stock worth $140,000 after acquiring an additional 110 shares during the period. Eads & Heald Wealth Management raised its position in shares of Salesforce by 7.9% in the third quarter. Eads & Heald Wealth Management now owns 2,841 shares of the CRM provider’s stock worth $778,000 after acquiring an additional 207 shares during the period. Roanoke Asset Management Corp NY raised its position in shares of Salesforce by 2.7% in the third quarter. Roanoke Asset Management Corp NY now owns 22,165 shares of the CRM provider’s stock worth $6,067,000 after acquiring an additional 580 shares during the period. Weatherly Asset Management L. P. acquired a new position in shares of Salesforce in the third quarter worth about $213,000. Finally, Dash Acquisitions Inc. raised its position in shares of Salesforce by 4.8% in the third quarter. Dash Acquisitions Inc. now owns 58,996 shares of the CRM provider’s stock worth $17,136,000 after acquiring an additional 2,679 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In related news, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the sale, the chief executive officer now owns 12,162,457 shares in the company, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,102,572 shares of company stock worth $381,283,706 over the last 90 days. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Stifel Nicolaus cut their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Thursday. Bank of America cut their target price on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday. UBS Group boosted their target price 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. 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 note on Thursday. Finally, Loop Capital cut their target price on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $365.32.

Salesforce Stock Up 0.9 %

CRM stock opened at $297.63 on Friday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The stock has a market capitalization of $284.83 billion, a PE ratio of 48.95, a price-to-earnings-growth 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 $329.11 and a 200-day moving average of $307.58.

Salesforce (NYSE:CRM) last released 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). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same quarter last year, the business posted $1.62 EPS. The firm’s revenue was up 8.3% on a year-over-year basis. As a group, analysts expect that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid 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, December 18th. Salesforce’s dividend payout ratio (DPR) is 25.16%.

About Salesforce

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.