Brady Family Wealth LLC Purchases 322 Shares of Salesforce, Inc. (NYSE:CRM)

Brady Family Wealth LLC increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 1.8% during the 3rd quarter, Holdings Channel reports. The firm owned 18,279 shares of the CRM provider’s stock after acquiring an additional 322 shares during the period. Salesforce comprises 1.5% of Brady Family Wealth LLC’s investment portfolio, making the stock its 23rd biggest position. Brady Family Wealth LLC’s holdings in Salesforce were worth $5,003,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Creekmur Asset Management LLC purchased a new stake in shares of Salesforce in the fourth quarter worth approximately $35,000. Kapitalo Investimentos Ltda bought a new position in Salesforce in the fourth quarter worth approximately $51,000. Ferguson Wellman Capital Management Inc. grew its stake in Salesforce by 11.8% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 1,311 shares of the CRM provider’s stock worth $395,000 after purchasing an additional 138 shares in the last quarter. Foster Group Inc. bought a new position in Salesforce in the first quarter worth approximately $296,000. Finally, Montecito Bank & Trust grew its stake in Salesforce by 57.5% in the first quarter. Montecito Bank & Trust now owns 2,004 shares of the CRM provider’s stock worth $604,000 after purchasing an additional 732 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Performance

NYSE CRM opened at $288.31 on Wednesday. The stock has a 50-day simple moving average of $263.98 and a two-hundred day simple moving average of $263.46. The firm has a market capitalization of $279.37 billion, a P/E ratio of 51.85, a PEG ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two 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.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the business posted $1.63 EPS. On average, equities analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

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

Insider Activity

In other news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $288.42, for a total transaction of $1,211,364.00. Following the sale, the insider now directly owns 118,514 shares in the company, valued at $34,181,807.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $288.42, for a total transaction of $1,211,364.00. Following the sale, the insider now directly owns 118,514 shares in the company, valued at $34,181,807.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brian Millham sold 8,427 shares of Salesforce stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $280.00, for a total value of $2,359,560.00. The disclosure for this sale can be found here. Insiders have sold 76,412 shares of company stock worth $20,212,507 in the last ninety days. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CRM. BMO Capital Markets increased their price objective on Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Sanford C. Bernstein increased their target price on Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Stifel Nicolaus increased their target price on Salesforce from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Citigroup increased their target price on Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Finally, Truist Financial reaffirmed a “buy” rating and set a $315.00 target price (up previously from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. Nine research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $310.74.

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.