Janney Montgomery Scott LLC Has $72.66 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Janney Montgomery Scott LLC boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 8.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 217,341 shares of the CRM provider’s stock after buying an additional 16,847 shares during the period. Janney Montgomery Scott LLC’s holdings in Salesforce were worth $72,664,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of CRM. Gabelli Funds LLC raised its holdings in Salesforce by 11.9% during the 2nd quarter. Gabelli Funds LLC now owns 2,405 shares of the CRM provider’s stock worth $618,000 after buying an additional 255 shares during the period. Sfmg LLC raised its holdings in shares of Salesforce by 24.9% in the second quarter. Sfmg LLC now owns 23,264 shares of the CRM provider’s stock valued at $5,981,000 after purchasing an additional 4,635 shares during the last quarter. Insigneo Advisory Services LLC raised its holdings in shares of Salesforce by 403.4% in the second quarter. Insigneo Advisory Services LLC now owns 11,836 shares of the CRM provider’s stock valued at $2,829,000 after purchasing an additional 9,485 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of Salesforce by 16.1% in the second quarter. Toronto Dominion Bank now owns 736,459 shares of the CRM provider’s stock valued at $189,344,000 after purchasing an additional 102,358 shares during the last quarter. Finally, Unisphere Establishment raised its holdings in shares of Salesforce by 13.9% in the second quarter. Unisphere Establishment now owns 559,000 shares of the CRM provider’s stock valued at $143,719,000 after purchasing an additional 68,250 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CRM has been the topic of a number of recent analyst reports. Guggenheim downgraded shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price on the stock. in a report on Monday, January 6th. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and boosted their target price for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Scotiabank boosted their target price on shares of Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. Royal Bank of Canada lifted their price objective on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Truist Financial reaffirmed a “buy” rating and set a $400.00 price objective (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $377.63.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now directly owns 45,861 shares in the company, valued at $15,128,626.68. The trade was a 11.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $298.04, for a total value of $1,251,768.00. Following the completion of the sale, the insider now owns 119,402 shares in the company, valued at approximately $35,586,572.08. The trade was a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,171,198 shares of company stock valued at $401,945,558 over the last three months. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

CRM stock opened at $332.67 on Thursday. The firm has a market cap of $318.37 billion, a price-to-earnings ratio of 54.72, a PEG ratio of 2.95 and a beta of 1.30. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company’s fifty day simple moving average is $336.68 and its 200 day simple moving average is $292.92.

Salesforce (NYSE:CRM) last announced its quarterly earnings data 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 net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same quarter in the prior year, the company posted $1.62 EPS. Salesforce’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is presently 26.32%.

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.