Fidelis Capital Partners LLC Buys 779 Shares of Salesforce, Inc. (NYSE:CRM)

Fidelis Capital Partners LLC boosted its stake in Salesforce, Inc. (NYSE:CRM) by 8.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,322 shares of the CRM provider’s stock after buying an additional 779 shares during the period. Fidelis Capital Partners LLC’s holdings in Salesforce were worth $2,936,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. XN LP grew its position in Salesforce by 24.2% in the 2nd quarter. XN LP now owns 464,489 shares of the CRM provider’s stock worth $119,420,000 after purchasing an additional 90,616 shares during the period. Atomi Financial Group Inc. grew its position in Salesforce by 27.5% in the 3rd quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock worth $3,284,000 after purchasing an additional 2,589 shares during the period. M&G Plc bought a new stake in Salesforce in the 1st quarter worth approximately $2,178,000. First Foundation Advisors grew its position in Salesforce by 38.0% in the 1st quarter. First Foundation Advisors now owns 828 shares of the CRM provider’s stock worth $249,000 after purchasing an additional 228 shares during the period. Finally, Elevated Capital Advisors LLC purchased a new position in shares of Salesforce during the 3rd quarter valued at $523,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Maynard G. Webb, Jr. sold 9,170 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total value of $2,533,854.40. Following the completion of the sale, the director now owns 1,363 shares of the company’s stock, valued at approximately $376,624.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Salesforce news, Director Maynard G. Webb, Jr. sold 9,170 shares of Salesforce stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $276.32, for a total value of $2,533,854.40. Following the transaction, the director now owns 1,363 shares in the company, valued at $376,624.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Parker Harris sold 2,800 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total value of $675,416.00. Following the sale, the insider now owns 117,581 shares in the company, valued at approximately $28,362,888.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 83,581 shares of company stock valued at $22,616,017. 3.20% of the stock is owned by insiders.

Salesforce Stock Up 1.9 %

Shares of CRM traded up $5.52 during mid-day trading on Tuesday, hitting $299.29. 2,067,355 shares of the company’s stock were exchanged, compared to its average volume of 6,302,506. The company has a market cap of $290.01 billion, a PE ratio of 53.55, a P/E/G ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a 52 week low of $197.08 and a 52 week high of $318.71. The company has a 50-day simple moving average of $270.30 and a 200 day simple moving average of $262.75. 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 (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.20. The company had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the business earned $1.63 EPS. On average, research analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is presently 28.78%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $345.00 price target on shares of Salesforce in a research note on Friday, September 20th. Cfra set a $343.00 target price on shares of Salesforce in a report on Thursday, October 17th. Loop Capital reaffirmed a “hold” rating and issued a $270.00 price target on shares of Salesforce in a research report on Thursday, September 19th. Robert W. Baird increased their target price on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, Sanford C. Bernstein raised their price target on shares of Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $313.37.

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.