Tempus Wealth Planning LLC Buys 50 Shares of Salesforce, Inc. (NYSE:CRM)

Tempus Wealth Planning LLC lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 937 shares of the CRM provider’s stock after acquiring an additional 50 shares during the period. Tempus Wealth Planning LLC’s holdings in Salesforce were worth $282,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Advisors Asset Management Inc. grew its position in Salesforce by 3.5% in the third quarter. Advisors Asset Management Inc. now owns 11,824 shares of the CRM provider’s stock valued at $2,398,000 after purchasing an additional 401 shares in the last quarter. Legacy Advisors LLC lifted its stake in Salesforce by 5.4% in the third quarter. Legacy Advisors LLC now owns 3,024 shares of the CRM provider’s stock valued at $613,000 after acquiring an additional 154 shares during the last quarter. Lake Street Advisors Group LLC lifted its stake in Salesforce by 4.2% in the third quarter. Lake Street Advisors Group LLC now owns 11,065 shares of the CRM provider’s stock valued at $2,244,000 after acquiring an additional 444 shares during the last quarter. Jericho Capital Asset Management L.P. acquired a new stake in Salesforce in the third quarter valued at $68,742,000. Finally, Sei Investments Co. lifted its stake in Salesforce by 2.2% in the third quarter. Sei Investments Co. now owns 1,112,424 shares of the CRM provider’s stock valued at $225,579,000 after acquiring an additional 24,177 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock opened at $260.95 on Friday. The firm has a 50-day moving average of $258.48 and a 200-day moving average of $276.21. The company has a market cap of $252.86 billion, a P/E ratio of 46.93, a P/E/G ratio of 2.29 and a beta of 1.29. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, beating the consensus estimate of $2.38 by $0.06. The company had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.15 earnings per share. Equities research analysts forecast that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.60 annualized dividend and a dividend yield of 0.61%. Salesforce’s dividend payout ratio is currently 7.19%.

Wall Street Analyst Weigh In

A number of analysts have commented on CRM shares. Piper Sandler cut their price target on shares of Salesforce from $300.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. JPMorgan Chase & Co. cut their target price on shares of Salesforce from $310.00 to $300.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Wedbush cut their target price on shares of Salesforce from $325.00 to $315.00 and set an “outperform” rating for the company in a research note on Wednesday, May 29th. Needham & Company LLC restated a “buy” rating and set a $345.00 target price on shares of Salesforce in a research note on Thursday, May 30th. Finally, Stifel Nicolaus dropped their price objective on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average price target of $292.79.

Insider Buying and Selling

In related news, Director G Mason Morfit acquired 428,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was acquired at an average price of $233.17 per share, for a total transaction of $99,796,760.00. Following the completion of the acquisition, the director now owns 3,914,309 shares of the company’s stock, valued at approximately $912,699,429.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Salesforce news, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $256.24, for a total transaction of $1,076,208.00. Following the completion of the transaction, the insider now owns 116,693 shares in the company, valued at $29,901,414.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director G Mason Morfit bought 428,000 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were acquired at an average price of $233.17 per share, with a total value of $99,796,760.00. Following the transaction, the director now directly owns 3,914,309 shares of the company’s stock, valued at $912,699,429.53. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 484,152 shares of company stock worth $131,779,561. 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.