Semmax Financial Advisors Inc. Grows Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Semmax Financial Advisors Inc. grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 39.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 6,925 shares of the CRM provider’s stock after buying an additional 1,954 shares during the period. Semmax Financial Advisors Inc.’s holdings in Salesforce were worth $1,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in CRM. Prime Capital Investment Advisors LLC boosted its stake in Salesforce by 13.6% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after purchasing an additional 6,938 shares during the period. Aljian Capital Management LLC boosted its position in shares of Salesforce by 16.1% in the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after acquiring an additional 1,834 shares during the period. AIA Group Ltd boosted its position in shares of Salesforce by 8.9% in the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after acquiring an additional 1,962 shares during the period. Transamerica Financial Advisors Inc. bought a new stake in Salesforce during the 3rd quarter worth approximately $3,672,000. Finally, Harvest Portfolios Group Inc. increased its holdings in Salesforce by 13.6% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 89,098 shares of the CRM provider’s stock worth $24,387,000 after acquiring an additional 10,656 shares during the period. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Down 0.0 %

NYSE CRM opened at $329.99 on Friday. The business’s 50-day moving average is $302.12 and its 200 day moving average is $270.61. The stock has a market capitalization of $315.47 billion, a PE ratio of 57.39, a PEG ratio of 2.99 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $348.86.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion for 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 business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company earned $1.63 EPS. Sell-side analysts forecast that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is currently 27.83%.

Analyst Ratings Changes

A number of research analysts have recently commented on CRM shares. Needham & Company LLC restated a “buy” rating and set a $345.00 price target on shares of Salesforce in a research report on Friday, September 20th. TD Cowen upped their target price on Salesforce from $290.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, November 21st. FBN Securities raised Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Citigroup boosted their price objective on Salesforce from $290.00 to $368.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Cfra set a $343.00 target price on shares of Salesforce in a research note on Thursday, October 17th. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $341.89.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the transaction, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Miguel Milano sold 719 shares of Salesforce stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $342.81, for a total value of $246,480.39. Following the sale, the insider now directly owns 4,659 shares in the company, valued at approximately $1,597,151.79. The trade was a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 144,510 shares of company stock valued at $42,475,538. 3.20% of the stock is currently owned by company insiders.

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.