B.O.S.S. Retirement Advisors LLC Cuts Holdings in Salesforce, Inc. (NYSE:CRM)

B.O.S.S. Retirement Advisors LLC trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 16.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,198 shares of the CRM provider’s stock after selling 2,535 shares during the period. B.O.S.S. Retirement Advisors LLC’s holdings in Salesforce were worth $3,612,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Salesforce by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock worth $25,490,446,000 after acquiring an additional 1,008,841 shares during the period. Capital Research Global Investors grew its holdings in shares of Salesforce by 26.9% in the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after acquiring an additional 3,044,611 shares during the period. Capital International Investors grew its holdings in shares of Salesforce by 3.0% in the 1st quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock worth $4,251,592,000 after acquiring an additional 407,834 shares during the period. Legal & General Group Plc grew its holdings in shares of Salesforce by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after acquiring an additional 176,641 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Salesforce by 48.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after acquiring an additional 1,922,674 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Trading Up 0.9 %

Shares of CRM opened at $290.89 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $281.87 billion, a P/E ratio of 52.32, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. The stock’s fifty day simple moving average is $265.00 and its 200 day simple moving average is $263.65. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period last year, the company posted $1.63 earnings per share. The firm’s revenue was up 8.5% compared to the same quarter last year. On average, equities research analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.55%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Analysts Set New Price Targets

CRM has been the topic of a number of research reports. Truist Financial restated a “buy” rating and issued a $315.00 price target (up previously from $300.00) on shares of Salesforce in a report on Thursday, September 19th. Erste Group Bank restated a “hold” rating on shares of Salesforce in a report on Wednesday, September 11th. Stifel Nicolaus increased their target price on Salesforce from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Needham & Company LLC reiterated a “buy” rating and set a $345.00 target price on shares of Salesforce in a report on Friday, September 20th. Finally, FBN Securities upgraded Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $310.74.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider R David Schmaier sold 1,155 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $295,425.90. Following the transaction, the insider now directly owns 20,556 shares of the company’s stock, valued at $5,257,813.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Salesforce news, insider R David Schmaier sold 1,155 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $295,425.90. Following the transaction, the insider now directly owns 20,556 shares of the company’s stock, valued at $5,257,813.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Parker Harris sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total value of $675,416.00. Following the sale, the insider now owns 117,581 shares of the company’s stock, valued at $28,362,888.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 80,612 shares of company stock valued at $21,429,961 over the last three months. 3.20% of the stock is owned by company insiders.

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.