WCG Wealth Advisors LLC Has $4.23 Million Holdings in Salesforce, Inc. (NYSE:CRM)

WCG Wealth Advisors LLC lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 43.9% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 16,448 shares of the CRM provider’s stock after buying an additional 5,020 shares during the quarter. WCG Wealth Advisors LLC’s holdings in Salesforce were worth $4,229,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CRM. MRP Capital Investments LLC acquired a new position in Salesforce during the second quarter worth about $419,000. LJI Wealth Management LLC bought a new position in Salesforce during the 2nd quarter worth approximately $414,000. Venator Management LLC acquired a new position in shares of Salesforce in the 2nd quarter worth approximately $643,000. First Eagle Investment Management LLC boosted its stake in shares of Salesforce by 35.8% in the 2nd quarter. First Eagle Investment Management LLC now owns 2,624,665 shares of the CRM provider’s stock valued at $674,801,000 after purchasing an additional 692,493 shares during the last quarter. Finally, SkyOak Wealth LLC acquired a new stake in shares of Salesforce during the second quarter worth $215,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Salesforce

In other news, insider Srinivas Tallapragada sold 942 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $242.32, for a total transaction of $228,265.44. Following the sale, the insider now directly owns 22,154 shares of the company’s stock, valued at approximately $5,368,357.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Parker Harris sold 5,600 shares of Salesforce stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $250.17, for a total value of $1,400,952.00. Following the sale, the insider now owns 116,693 shares in the company, valued at $29,193,087.81. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Srinivas Tallapragada sold 942 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $242.32, for a total value of $228,265.44. Following the transaction, the insider now directly owns 22,154 shares of the company’s stock, valued at approximately $5,368,357.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,576 shares of company stock valued at $16,957,573. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on CRM shares. Needham & Company LLC restated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a report on Friday, September 6th. UBS Group boosted their price objective on Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. BNP Paribas raised Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Citigroup boosted their price target on Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Finally, Erste Group Bank reiterated a “hold” rating on shares of Salesforce in a report on Wednesday, September 11th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $305.55.

Salesforce Stock Performance

NYSE CRM opened at $252.42 on Thursday. The firm has a market capitalization of $244.59 billion, a P/E ratio of 45.40, a PEG ratio of 2.26 and a beta of 1.29. The stock has a 50-day simple moving average of $253.60 and a two-hundred day simple moving average of $267.01. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period last year, the business earned $1.63 earnings per share. Salesforce’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.63%. Salesforce’s dividend payout ratio is presently 28.78%.

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.