Waverton Investment Management Ltd Has $1.03 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Waverton Investment Management Ltd trimmed its stake in Salesforce, Inc. (NYSE:CRM) by 58.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,073 shares of the CRM provider’s stock after selling 4,360 shares during the quarter. Waverton Investment Management Ltd’s holdings in Salesforce were worth $1,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Roffman Miller Associates Inc. PA lifted its position in Salesforce by 56.6% in the 4th quarter. Roffman Miller Associates Inc. PA now owns 59,651 shares of the CRM provider’s stock worth $19,943,000 after buying an additional 21,566 shares in the last quarter. Cannon Wealth Management Services LLC increased its stake in shares of Salesforce by 70.2% in the fourth quarter. Cannon Wealth Management Services LLC now owns 1,370 shares of the CRM provider’s stock worth $465,000 after acquiring an additional 565 shares during the last quarter. Mainstay Capital Management LLC ADV raised its holdings in shares of Salesforce by 3.5% during the fourth quarter. Mainstay Capital Management LLC ADV now owns 5,654 shares of the CRM provider’s stock worth $1,890,000 after acquiring an additional 189 shares in the last quarter. Dover Advisors LLC boosted its position in Salesforce by 4.5% during the fourth quarter. Dover Advisors LLC now owns 6,739 shares of the CRM provider’s stock valued at $2,253,000 after purchasing an additional 290 shares during the last quarter. Finally, Conscious Wealth Investments LLC grew its stake in Salesforce by 0.6% in the fourth quarter. Conscious Wealth Investments LLC now owns 10,108 shares of the CRM provider’s stock valued at $3,280,000 after purchasing an additional 62 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets cut their price target on Salesforce from $425.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday. Scotiabank raised their price objective on shares of Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. Royal Bank of Canada boosted their target price on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Oppenheimer restated an “outperform” rating and set a $415.00 price target (up previously from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, UBS Group upped their price objective on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $375.53.

Salesforce Trading Down 2.8 %

CRM stock opened at $309.54 on Monday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year 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 business’s 50 day moving average is $333.34 and its 200-day moving average is $306.18. The firm has a market cap of $296.23 billion, a P/E ratio of 50.91, a P/E/G ratio of 2.58 and a beta of 1.31.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the company earned $1.62 earnings per share. Equities analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.52%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

Insider Buying and Selling at Salesforce

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the transaction, the chief executive officer now owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total value of $2,041,607.78. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $15,342,415. This represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,102,114 shares of company stock worth $381,142,656 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Salesforce Company 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.