Everhart Financial Group Inc. Purchases 665 Shares of Salesforce, Inc. (NYSE:CRM)

Everhart Financial Group Inc. raised its position in shares of Salesforce, Inc. (NYSE:CRM) by 13.1% in the fourth quarter, HoldingsChannel reports. The firm owned 5,751 shares of the CRM provider’s stock after acquiring an additional 665 shares during the period. Everhart Financial Group Inc.’s holdings in Salesforce were worth $1,923,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CRM. Foundations Investment Advisors LLC raised its position in shares of Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after acquiring an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc bought a new position in shares of Salesforce in the 3rd quarter worth $1,215,000. Prime Capital Investment Advisors LLC raised its position in shares of Salesforce by 13.6% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after acquiring an additional 6,938 shares in the last quarter. Aljian Capital Management LLC raised its position in shares of Salesforce by 16.1% in the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after acquiring an additional 1,834 shares in the last quarter. Finally, AIA Group Ltd raised its position in shares of Salesforce by 8.9% in the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after acquiring an additional 1,962 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on CRM. Barclays boosted their price target on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Citigroup upped their target price on Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Truist Financial reaffirmed a “buy” rating and set a $400.00 target price (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, UBS Group upped their target price on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have issued 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Brian Millham sold 14,808 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $338.95, for a total value of $5,019,171.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,111,420 shares of company stock valued at $384,366,700. 3.20% of the stock is currently owned by insiders.

Salesforce Price Performance

Shares of Salesforce stock opened at $325.49 on Friday. The business has a 50 day simple moving average of $336.56 and a two-hundred day simple moving average of $302.79. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The stock has a market capitalization of $311.49 billion, a P/E ratio of 53.53, a PEG ratio of 2.66 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last announced its earnings results 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 net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same period in the previous year, the company earned $1.62 EPS. Salesforce’s revenue was up 8.3% compared to the same quarter last year. As a group, analysts predict that Salesforce, Inc. will post 7.48 EPS 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 issued 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 dividend payout ratio is presently 26.32%.

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.