Symphony Financial Ltd. Co. Raises Stake in Salesforce, Inc. (NYSE:CRM)

Symphony Financial Ltd. Co. lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 5.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 14,900 shares of the CRM provider’s stock after buying an additional 744 shares during the period. Symphony Financial Ltd. Co.’s holdings in Salesforce were worth $4,117,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ruedi Wealth Management Inc. grew its position in Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 56 shares during the period. Piscataqua Savings Bank grew its holdings in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares during the period. Red Tortoise LLC purchased a new position in Salesforce in the first quarter valued at approximately $33,000. Clear Investment Research LLC increased its position in shares of Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares in the last quarter. Finally, Godsey & Gibb Inc. raised its stake in shares of Salesforce by 300.0% in the 3rd 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. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Down 1.0 %

CRM stock traded down $2.99 during midday trading on Tuesday, reaching $288.30. The company had a trading volume of 2,260,902 shares, compared to its average volume of 6,375,786. The company has a 50 day moving average of $267.44 and a two-hundred day moving average of $263.18. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The company has a market capitalization of $279.36 billion, a P/E ratio of 51.96, a PEG ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted $1.63 earnings per share. On average, equities research analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is presently 28.78%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Morgan Stanley increased their target price on Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Sanford C. Bernstein increased their target price on Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Needham & Company LLC reissued a “buy” rating and set a $345.00 target price on shares of Salesforce in a report on Friday, September 20th. UBS Group boosted their price objective on shares of Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Finally, Citigroup raised their target price on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Nine analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $311.66.

Insider Transactions at Salesforce

In related news, insider Sabastian Niles sold 2,484 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total value of $608,108.04. Following the completion of the sale, the insider now directly owns 828 shares in the company, valued at approximately $202,702.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Sabastian Niles sold 2,484 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total value of $608,108.04. Following the sale, the insider now directly owns 828 shares of the company’s stock, valued at approximately $202,702.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Brian Millham sold 969 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $253.63, for a total value of $245,767.47. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,110 shares of company stock worth $20,292,760. 3.20% of the stock is owned by corporate insiders.

About Salesforce

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.