Alliance Wealth Advisors LLC UT Buys New Stake in Salesforce, Inc. (NYSE:CRM)

Alliance Wealth Advisors LLC UT purchased a new position in shares of Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,804 shares of the CRM provider’s stock, valued at approximately $603,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Infrastructure Capital Advisors LLC purchased a new position in Salesforce in the third quarter valued at approximately $27,000. Godsey & Gibb Inc. grew its position in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares during the last quarter. Annapolis Financial Services LLC raised its stake in Salesforce by 135.6% during the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after acquiring an additional 80 shares in the last quarter. FSA Wealth Management LLC purchased a new stake in Salesforce in the third quarter valued at $53,000. Finally, Friedenthal Financial acquired a new position in Salesforce in the fourth quarter valued at $55,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 transaction of $2,133,803.00. Following the completion of the sale, the chief financial officer now directly owns 53,861 shares of the company’s stock, valued at $18,474,323. The trade was a 10.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $167,970.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,557 shares in the company, valued at $2,202,758.58. This trade represents a 7.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,111,420 shares of company stock valued at $384,366,700. Insiders own 3.20% of the company’s stock.

Salesforce Price Performance

CRM stock opened at $344.07 on Wednesday. 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 stock’s 50 day moving average price is $338.67 and its 200 day moving average price is $298.64. The firm has a market cap of $329.28 billion, a P/E ratio of 56.59, a PEG ratio of 3.09 and a beta of 1.31. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS 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 company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the prior year, the business posted $1.62 EPS. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, sell-side analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.47%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and upped their target price for the company from $380.00 to $400.00 in a research report on Friday, January 17th. Needham & Company LLC increased their price objective on Salesforce from $375.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Robert W. Baird lifted their target price on shares of Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. UBS Group increased their price target 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. Finally, Barclays lifted their price objective on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $377.63.

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.