Hohimer Wealth Management LLC Buys 154 Shares of Salesforce, Inc. (NYSE:CRM)

Hohimer Wealth Management LLC raised its position in shares of Salesforce, Inc. (NYSE:CRM) by 3.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,541 shares of the CRM provider’s stock after acquiring an additional 154 shares during the period. Hohimer Wealth Management LLC’s holdings in Salesforce were worth $1,243,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CRM. Infrastructure Capital Advisors LLC acquired a new position in Salesforce in the 3rd quarter valued at $27,000. Clear Investment Research LLC boosted its position in shares of Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 98 shares during the period. Stephens Consulting LLC grew its stake in shares of Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 125 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Salesforce during the second quarter worth about $33,000. Finally, Godsey & Gibb Inc. raised its stake in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In related news, COO Brian Millham sold 5,735 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $266.22, for a total value of $1,526,771.70. Following the completion of the sale, the chief operating officer now directly owns 1,663 shares of the company’s stock, valued at $442,723.86. The trade was a 77.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $257.04, for a total value of $1,079,568.00. Following the completion of the transaction, the insider now owns 117,581 shares in the company, valued at approximately $30,223,020.24. The trade was a 3.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 138,498 shares of company stock valued at $40,983,349. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Down 0.8 %

Salesforce stock opened at $348.84 on Wednesday. The firm has a market cap of $333.84 billion, a price-to-earnings ratio of 57.38, a PEG ratio of 3.27 and a beta of 1.30. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. 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 firm has a 50 day moving average price of $311.53 and a two-hundred day moving average price of $273.32.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the prior year, the business earned $1.62 EPS. Salesforce’s quarterly revenue was up 8.3% on a year-over-year basis. Equities analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.46%. Salesforce’s payout ratio is currently 26.32%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Phillip Securities reaffirmed an “accumulate” rating and set a $305.00 target price on shares of Salesforce in a report on Friday, August 30th. Needham & Company LLC increased their price target on Salesforce from $345.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Evercore ISI reiterated an “outperform” rating and set a $300.00 target price on shares of Salesforce in a research report on Monday, August 26th. TD Cowen raised their price target on Salesforce from $290.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, November 21st. Finally, Northland Capmk raised Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Eight investment analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $372.86.

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.