Salesforce, Inc. (NYSE:CRM) Holdings Raised by EP Wealth Advisors LLC

EP Wealth Advisors LLC boosted its stake in Salesforce, Inc. (NYSE:CRM) by 13.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,031 shares of the CRM provider’s stock after buying an additional 3,580 shares during the period. EP Wealth Advisors LLC’s holdings in Salesforce were worth $7,721,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Salesforce by 1.2% during the first quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock valued at $25,490,446,000 after buying an additional 1,008,841 shares in the last quarter. Capital World Investors boosted its position in shares of Salesforce by 2.4% during the 4th quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock valued at $5,147,402,000 after purchasing an additional 457,463 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Salesforce by 5.2% in 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 purchasing an additional 736,986 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Salesforce by 26.9% in 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 purchasing an additional 3,044,611 shares in the last quarter. Finally, Capital International Investors lifted its stake in Salesforce by 3.0% during the first quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock valued at $4,251,592,000 after purchasing an additional 407,834 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Down 1.1 %

Salesforce stock opened at $273.68 on Tuesday. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The company’s fifty day moving average price is $256.65 and its two-hundred day moving average price is $264.81. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $265.20 billion, a price-to-earnings ratio of 49.22, a PEG ratio of 2.39 and a beta of 1.29.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the firm posted $1.63 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, analysts forecast that Salesforce, Inc. will post 7.54 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Wednesday, September 18th. Salesforce’s payout ratio is 28.78%.

Insider Buying and Selling

In other Salesforce news, Director Maynard G. Webb, Jr. sold 9,170 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the completion of the transaction, the director now owns 1,363 shares of the company’s stock, valued at approximately $376,624.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $229,434.66. Following the completion of the transaction, the chief financial officer now owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the director now directly owns 1,363 shares in the company, valued at $376,624.16. The disclosure for this sale can be found here. In the last three months, insiders sold 67,985 shares of company stock valued at $17,632,363. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the topic of several recent research reports. Truist Financial restated a “buy” rating and issued a $315.00 price target (up previously from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. TD Cowen boosted their target price on Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. Sanford C. Bernstein increased their price target on Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Morgan Stanley boosted their price objective on Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Finally, DA Davidson raised their target price on shares of Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $308.03.

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.