Resources Management Corp CT ADV Raises Stake in Salesforce, Inc. (NYSE:CRM)

Resources Management Corp CT ADV lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 5.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,942 shares of the CRM provider’s stock after purchasing an additional 323 shares during the quarter. Resources Management Corp CT ADV’s holdings in Salesforce were worth $1,528,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of CRM. Vanguard Group Inc. lifted its position in Salesforce by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock worth $25,490,446,000 after acquiring an additional 1,008,841 shares in the last quarter. Capital World Investors lifted its position in Salesforce by 2.4% during the 4th quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock worth $5,147,402,000 after acquiring an additional 457,463 shares in the last quarter. Fisher Asset Management LLC lifted its position in Salesforce by 5.2% during the 4th quarter. Fisher Asset Management LLC now owns 14,905,462 shares of the CRM provider’s stock worth $3,922,223,000 after acquiring an additional 736,986 shares in the last quarter. Capital Research Global Investors lifted its position in Salesforce by 26.9% during the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after acquiring an additional 3,044,611 shares in the last quarter. Finally, Capital International Investors lifted its position in Salesforce by 3.0% during the 1st quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock worth $4,251,592,000 after acquiring an additional 407,834 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the sale, the chief accounting officer now owns 6,431 shares in the company, valued at $1,644,921.18. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the sale, the chief accounting officer now owns 6,431 shares in the company, valued at $1,644,921.18. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $229,434.66. Following the completion of the sale, the chief financial officer now owns 51,109 shares of the company’s stock, valued at approximately $13,072,660.02. The disclosure for this sale can be found here. Insiders sold a total of 70,633 shares of company stock worth $18,100,349 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on CRM. Bank of America reissued a “buy” rating and set a $325.00 price target on shares of Salesforce in a research report on Friday, September 6th. Piper Sandler boosted their price target on Salesforce from $250.00 to $268.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Wedbush reaffirmed an “outperform” rating and issued a $315.00 target price on shares of Salesforce in a research report on Thursday, August 29th. JPMorgan Chase & Co. upped their target price on Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Finally, TD Cowen upped their target price on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $306.00.

Salesforce Trading Down 1.0 %

NYSE:CRM opened at $264.21 on Tuesday. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The stock has a market cap of $256.02 billion, a price-to-earnings ratio of 47.52, a PEG ratio of 2.26 and a beta of 1.29. The business has a fifty day moving average of $254.37 and a 200-day moving average of $265.91. 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 (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the business posted $1.63 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.61%. Salesforce’s payout ratio is 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.