Exencial Wealth Advisors LLC Acquires 16,943 Shares of Salesforce, Inc. (NYSE:CRM)

Exencial Wealth Advisors LLC raised its position in Salesforce, Inc. (NYSE:CRM) by 40.4% during the third quarter, HoldingsChannel.com reports. The firm owned 58,919 shares of the CRM provider’s stock after purchasing an additional 16,943 shares during the period. Exencial Wealth Advisors LLC’s holdings in Salesforce were worth $16,127,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. XN LP raised its position in Salesforce by 24.2% in the 2nd quarter. XN LP now owns 464,489 shares of the CRM provider’s stock worth $119,420,000 after purchasing an additional 90,616 shares during the period. Atomi Financial Group Inc. raised its position in Salesforce by 27.5% in the 3rd quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock worth $3,284,000 after purchasing an additional 2,589 shares during the period. M&G Plc purchased a new stake in Salesforce in the 1st quarter worth about $2,178,000. First Foundation Advisors raised its position in Salesforce by 38.0% in the 1st quarter. First Foundation Advisors now owns 828 shares of the CRM provider’s stock worth $249,000 after purchasing an additional 228 shares during the period. Finally, Harvest Portfolios Group Inc. raised its position in Salesforce by 13.6% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 89,098 shares of the CRM provider’s stock worth $24,387,000 after purchasing an additional 10,656 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CRM shares. JPMorgan Chase & Co. raised their target price on shares of Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Cfra set a $343.00 target price on shares of Salesforce in a research report on Thursday, October 17th. Piper Sandler lowered shares of Salesforce from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Wells Fargo & Company raised their target price on shares of Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 29th. Finally, BNP Paribas raised shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $313.37.

Insider Buying and Selling at Salesforce

In other Salesforce news, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Salesforce news, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at $1,998,741.74. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 149,973 shares of company stock worth $42,672,142 in the last ninety days. 3.20% of the stock is owned by insiders.

Salesforce Stock Up 3.2 %

CRM stock opened at $306.90 on Thursday. The stock has a market capitalization of $293.40 billion, a P/E ratio of 53.37, a P/E/G ratio of 2.67 and a beta of 1.29. The firm has a 50-day simple moving average of $275.30 and a 200-day simple moving average of $263.86. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 52 week low of $208.84 and a 52 week high of $318.71.

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

Salesforce Announces Dividend

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 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 yield of 0.52%. Salesforce’s payout ratio is presently 27.83%.

Salesforce 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.