Wilmington Savings Fund Society FSB Buys 3,230 Shares of Salesforce, Inc. (NYSE:CRM)

Wilmington Savings Fund Society FSB grew its stake in Salesforce, Inc. (NYSE:CRM) by 7.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,042 shares of the CRM provider’s stock after buying an additional 3,230 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Salesforce were worth $15,728,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Infrastructure Capital Advisors LLC purchased a new position in Salesforce in the third quarter worth $27,000. Godsey & Gibb Inc. boosted its holdings in shares of 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. Annapolis Financial Services LLC increased its position in shares of Salesforce by 135.6% during the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after purchasing an additional 80 shares during the last quarter. Friedenthal Financial purchased a new position in shares of Salesforce during the 4th quarter valued at about $55,000. Finally, Rosenberg Matthew Hamilton lifted its position in Salesforce by 88.3% in the 4th quarter. Rosenberg Matthew Hamilton now owns 177 shares of the CRM provider’s stock worth $59,000 after buying an additional 83 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on CRM shares. Wells Fargo & Company increased their price target on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 12th. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and increased their target price for the company from $380.00 to $400.00 in a report on Friday, January 17th. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target for the company in a research note on Friday, December 13th. Scotiabank raised their price objective on Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Finally, BMO Capital Markets lifted their price objective on Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce Price Performance

CRM opened at $325.81 on Friday. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a market cap of $311.80 billion, a price-to-earnings ratio of 53.59, a price-to-earnings-growth ratio of 3.09 and a beta of 1.31. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a fifty day simple moving average of $339.05 and a two-hundred day simple moving average of $299.87.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same period last year, the business earned $1.62 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. Research analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. Salesforce’s payout ratio is currently 26.32%.

Insider Activity at Salesforce

In other news, insider Miguel Milano sold 719 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $342.81, for a total value of $246,480.39. Following the sale, the insider now directly owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. This represents a 13.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Parker Harris sold 942 shares of Salesforce stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $339.78, for a total value of $320,072.76. Following the completion of the transaction, the insider now directly owns 120,333 shares of the company’s stock, valued at approximately $40,886,746.74. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,111,420 shares of company stock valued at $384,366,700 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

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.