Cwm LLC Acquires 4,744 Shares of Salesforce, Inc. (NYSE:CRM)

Cwm LLC boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 6.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 77,140 shares of the CRM provider’s stock after acquiring an additional 4,744 shares during the period. Cwm LLC’s holdings in Salesforce were worth $21,114,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Governors Lane LP boosted its stake in Salesforce by 34.3% in the 4th quarter. Governors Lane LP now owns 114,803 shares of the CRM provider’s stock valued at $30,209,000 after purchasing an additional 29,300 shares during the period. Garden State Investment Advisory Services LLC boosted its position in shares of Salesforce by 3.9% in the fourth quarter. Garden State Investment Advisory Services LLC now owns 2,607 shares of the CRM provider’s stock valued at $686,000 after acquiring an additional 99 shares during the period. Groupama Asset Managment acquired a new position in shares of Salesforce in the fourth quarter valued at about $10,723,000. Grayhawk Investment Strategies Inc. bought a new position in Salesforce during the fourth quarter worth about $1,497,000. Finally, First County Bank CT raised its stake in Salesforce by 1.0% in the 4th quarter. First County Bank CT now owns 7,044 shares of the CRM provider’s stock worth $1,854,000 after purchasing an additional 71 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Up 0.8 %

NYSE:CRM opened at $290.17 on Friday. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The firm’s fifty day moving average is $260.30 and its 200-day moving average is $264.11. The firm has a market cap of $281.17 billion, a P/E ratio of 52.19, a P/E/G ratio of 2.39 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the prior year, the firm posted $1.63 earnings per share. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. Equities analysts expect that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.55%. Salesforce’s payout ratio is presently 28.78%.

Analysts Set New Price Targets

A number of research analysts have issued reports on CRM shares. BMO Capital Markets increased their target price on shares of Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Royal Bank of Canada reissued an “outperform” rating and set a $300.00 price target on shares of Salesforce in a research report on Thursday, September 19th. Piper Sandler raised Salesforce from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $268.00 to $325.00 in a report on Tuesday, September 24th. Robert W. Baird increased their target price on Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Erste Group Bank restated a “hold” rating on shares of Salesforce in a research report on Wednesday, September 11th. Eight analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $310.74.

Insider Buying and Selling

In related news, insider Parker Harris sold 2,800 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total value of $675,416.00. Following the completion of the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at $28,362,888.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Salesforce news, COO Brian Millham sold 2,037 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $248.75, for a total value of $506,703.75. Following the transaction, the chief operating officer now directly owns 1,947 shares of the company’s stock, valued at approximately $484,316.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Parker Harris sold 2,800 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total transaction of $675,416.00. Following the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $28,362,888.82. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 80,612 shares of company stock valued at $21,283,087 over the last ninety days. 3.20% of the stock is owned by corporate insiders.

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.