Jamison Private Wealth Management Inc. Raises Stock Position in Salesforce, Inc. (NYSE:CRM)

Jamison Private Wealth Management Inc. grew its holdings in Salesforce, Inc. (NYSE:CRM) by 12.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,741 shares of the CRM provider’s stock after purchasing an additional 837 shares during the quarter. Jamison Private Wealth Management Inc.’s holdings in Salesforce were worth $2,588,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Deerfield Management Company L.P. Series C acquired a new position in shares of Salesforce in the second quarter worth $409,000. Vulcan Value Partners LLC boosted its holdings in Salesforce by 76.1% in the second quarter. Vulcan Value Partners LLC now owns 1,476,111 shares of the CRM provider’s stock valued at $379,469,000 after purchasing an additional 637,710 shares during the period. Ascent Group LLC grew its stake in Salesforce by 15.2% during the 2nd quarter. Ascent Group LLC now owns 19,556 shares of the CRM provider’s stock worth $5,028,000 after purchasing an additional 2,581 shares in the last quarter. Aviso Wealth Management raised its position in Salesforce by 10.9% in the 2nd quarter. Aviso Wealth Management now owns 3,075 shares of the CRM provider’s stock valued at $791,000 after purchasing an additional 302 shares in the last quarter. Finally, Doheny Asset Management CA purchased a new position in shares of Salesforce in the 2nd quarter valued at about $1,799,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Down 0.4 %

Shares of CRM opened at $333.47 on Friday. The firm’s 50-day moving average is $336.73 and its two-hundred day moving average is $294.01. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $319.13 billion, a P/E ratio of 54.85, a PEG ratio of 3.01 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the previous year, the firm posted $1.62 earnings per share. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, research analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $290.23, for a total value of $145,115.00. Following the transaction, the chief accounting officer now owns 6,506 shares in the company, valued at approximately $1,888,236.38. This trade represents a 7.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $298.04, for a total transaction of $1,251,768.00. Following the sale, the insider now directly owns 119,402 shares of the company’s stock, valued at approximately $35,586,572.08. This trade represents a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,173,891 shares of company stock worth $402,840,388 over the last ninety days. 3.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CRM shares. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a report on Friday, December 13th. Canaccord Genuity Group lifted their price objective on shares of Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. UBS Group lifted their price target on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Citigroup increased their price objective on Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $377.63.

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.