Salesforce, Inc. (NYSE:CRM) Shares Sold by Processus Wealth & Capital Management LLC

Processus Wealth & Capital Management LLC lowered its stake in shares of Salesforce, Inc. (NYSE:CRM) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,261 shares of the CRM provider’s stock after selling 639 shares during the quarter. Salesforce comprises about 2.5% of Processus Wealth & Capital Management LLC’s holdings, making the stock its 17th largest position. Processus Wealth & Capital Management LLC’s holdings in Salesforce were worth $3,096,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of CRM. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce during the third quarter worth about $27,000. Arlington Trust Co LLC grew its stake in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new position in Salesforce during the 4th quarter valued at about $30,000. Asset Planning Inc acquired a new stake in shares of Salesforce in the fourth quarter valued at approximately $31,000. Finally, Collier Financial acquired a new position in shares of Salesforce during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. BMO Capital Markets cut their target price on shares of Salesforce from $425.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price target on shares of Salesforce in a report on Thursday, February 6th. JMP Securities restated a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Royal Bank of Canada increased 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, Morgan Stanley raised their price objective on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $375.53.

Salesforce Stock Down 0.5 %

Salesforce stock opened at $308.27 on Tuesday. The company has a 50 day moving average of $332.36 and a 200-day moving average of $306.60. 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 stock has a market capitalization of $295.01 billion, a PE ratio of 50.70, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Salesforce (NYSE:CRM) last announced 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 business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the prior year, the firm earned $1.62 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is presently 26.32%.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. This represents a 5.82 % 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 Miguel Milano sold 458 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the transaction, the insider now owns 5,864 shares in the company, valued at $1,805,936.08. This trade represents a 7.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,102,572 shares of company stock valued at $381,283,706 over the last ninety days. 3.20% of the stock is currently owned by company insiders.

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.