SPC Financial Inc. Has $546,000 Position in Salesforce, Inc. (NYSE:CRM)

SPC Financial Inc. boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 3.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,995 shares of the CRM provider’s stock after buying an additional 71 shares during the quarter. SPC Financial Inc.’s holdings in Salesforce were worth $546,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Prentice Wealth Management LLC raised its stake in Salesforce by 1.5% in the third quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock valued at $686,000 after purchasing an additional 37 shares in the last quarter. Fox Hill Wealth Management raised its position in shares of Salesforce by 4.0% in the 1st quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock valued at $297,000 after buying an additional 38 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its holdings in shares of Salesforce by 0.8% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after acquiring an additional 38 shares during the period. Fulton Bank N.A. boosted its position in shares of Salesforce by 0.4% during the 3rd quarter. Fulton Bank N.A. now owns 9,269 shares of the CRM provider’s stock worth $2,537,000 after acquiring an additional 38 shares in the last quarter. Finally, CRA Financial Services LLC increased its stake in Salesforce by 3.4% in the third quarter. CRA Financial Services LLC now owns 1,160 shares of the CRM provider’s stock valued at $318,000 after acquiring an additional 38 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Trading Up 0.1 %

CRM opened at $291.12 on Friday. The company has a fifty day moving average price of $265.84 and a two-hundred day moving average price of $263.84. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The company has a market cap of $282.10 billion, a P/E ratio of 52.36, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last issued its 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 return on equity of 12.01% and a net margin of 15.44%. The business had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same period in the previous year, the company posted $1.63 EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. Analysts predict that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

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

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $229,434.66. Following the transaction, the chief financial officer now directly owns 51,109 shares of the company’s stock, valued at approximately $13,072,660.02. 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. In other news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $229,434.66. Following the transaction, the chief financial officer now owns 51,109 shares in the company, valued at $13,072,660.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total value of $1,217,454.00. Following the sale, the insider now owns 118,514 shares of the company’s stock, valued at $34,353,653.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 80,612 shares of company stock worth $21,429,961. 3.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CRM. Truist Financial reaffirmed a “buy” rating and issued a $315.00 target price (up previously from $300.00) on shares of Salesforce in a report on Thursday, September 19th. Roth Mkm reiterated a “buy” rating and issued a $335.00 target price on shares of Salesforce in a research report on Thursday, August 29th. TD Cowen increased their target price on shares of Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Robert W. Baird lifted their price target on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, BNP Paribas raised shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce has a consensus 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.