717 Shares in Salesforce, Inc. (NYSE:CRM) Acquired by CCG Wealth Management LLC

CCG Wealth Management LLC acquired a new position in Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 717 shares of the CRM provider’s stock, valued at approximately $240,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC acquired a new position in Salesforce during the third quarter valued at approximately $27,000. Godsey & Gibb Inc. boosted its position in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares during the period. Annapolis Financial Services LLC boosted its position in shares of Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after acquiring an additional 80 shares during the period. FSA Wealth Management LLC bought a new stake in shares of Salesforce in the third quarter valued at approximately $53,000. Finally, Friedenthal Financial bought a new stake in shares of Salesforce in the fourth quarter valued at approximately $55,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on CRM. UBS Group raised their target price on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Loop Capital raised their target price on Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Northland Securities reaffirmed an “outperform” rating and issued a $440.00 target price (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Canaccord Genuity Group raised their target price on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada increased their price objective on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce Stock Performance

NYSE:CRM opened at $341.80 on Monday. The stock has a fifty day moving average price of $338.67 and a 200-day moving average price of $297.66. The company has a market cap of $327.10 billion, a price-to-earnings ratio of 56.22, a PEG ratio of 3.20 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the prior year, the company earned $1.62 earnings per share. Salesforce’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, equities analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. Salesforce’s payout ratio is presently 26.32%.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the sale, the chief financial officer now directly owns 53,861 shares of the company’s stock, valued at $18,474,323. This represents a 10.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,108,669 shares of company stock valued at $383,286,905. Company insiders own 3.20% of the company’s stock.

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.