Marks Group Wealth Management Inc Raises Position in Salesforce, Inc. (NYSE:CRM)

Marks Group Wealth Management Inc increased its holdings in Salesforce, Inc. (NYSE:CRM) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,200 shares of the CRM provider’s stock after purchasing an additional 100 shares during the period. Salesforce accounts for 1.3% of Marks Group Wealth Management Inc’s investment portfolio, making the stock its 13th biggest position. Marks Group Wealth Management Inc’s holdings in Salesforce were worth $12,771,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Davidson Capital Management Inc. boosted its stake in Salesforce by 1.2% in the 4th quarter. Davidson Capital Management Inc. now owns 13,189 shares of the CRM provider’s stock worth $4,409,000 after buying an additional 152 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its holdings in shares of Salesforce by 15.0% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 2,532 shares of the CRM provider’s stock worth $846,000 after acquiring an additional 330 shares during the period. Great Lakes Retirement Inc. boosted its position in shares of Salesforce by 1.6% in the fourth quarter. Great Lakes Retirement Inc. now owns 9,675 shares of the CRM provider’s stock worth $3,235,000 after acquiring an additional 149 shares during the last quarter. Kentucky Trust Co purchased a new stake in Salesforce in the fourth quarter valued at approximately $2,477,000. Finally, Perissos Private Wealth Management LLC purchased a new stake in Salesforce in the fourth quarter valued at approximately $242,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 0.8 %

NYSE:CRM opened at $324.50 on Wednesday. The stock has a fifty day simple moving average of $338.89 and a 200 day simple moving average of $301.53. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $310.55 billion, a price-to-earnings ratio of 53.37, a price-to-earnings-growth ratio of 2.66 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 announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $9.35 billion. During the same quarter in the previous year, the business earned $1.62 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Sell-side analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

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

Insider Transactions at Salesforce

In other Salesforce news, insider Miguel Milano sold 719 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $342.81, for a total value of $246,480.39. Following the transaction, the insider now directly owns 4,659 shares in the company, valued at $1,597,151.79. The trade was a 13.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Brian Millham sold 14,808 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $338.95, for a total transaction of $5,019,171.60. 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 over the last quarter. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Canaccord Genuity Group upped their price target on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Scotiabank lifted 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. Stifel Nicolaus boosted their target price on Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $415.00 price target (up from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.