Bragg Financial Advisors Inc Boosts Position in Salesforce, Inc. (NYSE:CRM)

Bragg Financial Advisors Inc raised its stake in Salesforce, Inc. (NYSE:CRM) by 11.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,807 shares of the CRM provider’s stock after buying an additional 3,844 shares during the period. Bragg Financial Advisors Inc’s holdings in Salesforce were worth $12,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Nvest Financial LLC increased its holdings in Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after purchasing an additional 31 shares during the period. OMC Financial Services LTD grew its position in shares of Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after buying an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in shares of Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after buying an additional 31 shares during the period. Sachetta LLC lifted its stake in Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after acquiring an additional 32 shares during the period. Finally, Prossimo Advisors LLC grew its holdings in Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after acquiring an additional 32 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Performance

Shares of CRM stock opened at $254.98 on Friday. The stock has a market cap of $245.04 billion, a PE ratio of 41.94, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The business has a 50-day simple moving average of $289.29 and a 200-day simple moving average of $310.46. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio is currently 26.10%.

Wall Street Analysts Forecast Growth

CRM has been the subject of several recent research reports. Piper Sandler reaffirmed an “overweight” rating on shares of Salesforce in a research report on Wednesday, March 19th. Wedbush reissued an “outperform” rating and issued a $425.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Salesforce in a research report on Wednesday, March 19th. Loop Capital reduced their price target on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Finally, Macquarie reaffirmed a “neutral” rating and set a $320.00 price objective on shares of Salesforce in a research report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $361.42.

Insider Transactions at Salesforce

In other Salesforce news, Director Oscar Munoz bought 3,882 shares of the company’s stock in a transaction dated Thursday, April 3rd. The shares were purchased at an average cost of $257.28 per share, for a total transaction of $998,760.96. Following the transaction, the director now directly owns 11,843 shares of the company’s stock, valued at approximately $3,046,967.04. The trade was a 48.76 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,660 shares of company stock valued at $14,095,336 in the last 90 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.