Dynamic Advisor Solutions LLC Purchases 313 Shares of Salesforce, Inc. (NYSE:CRM)

Dynamic Advisor Solutions LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 1.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,861 shares of the CRM provider’s stock after acquiring an additional 313 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Salesforce were worth $5,984,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CRM. Regal Investment Advisors LLC raised its holdings in shares of Salesforce by 3.3% in the fourth quarter. Regal Investment Advisors LLC now owns 2,246 shares of the CRM provider’s stock valued at $591,000 after buying an additional 71 shares during the last quarter. Visionary Wealth Advisors raised its stake in shares of Salesforce by 3.2% in the fourth quarter. Visionary Wealth Advisors now owns 3,280 shares of the CRM provider’s stock worth $863,000 after acquiring an additional 102 shares during the last quarter. MGO One Seven LLC raised its stake in shares of Salesforce by 15.9% in the fourth quarter. MGO One Seven LLC now owns 12,849 shares of the CRM provider’s stock worth $3,381,000 after acquiring an additional 1,764 shares during the last quarter. Oribel Capital Management LP bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $49,786,000. Finally, Ethic Inc. increased its holdings in shares of Salesforce by 7.6% in the fourth quarter. Ethic Inc. now owns 77,619 shares of the CRM provider’s stock valued at $20,425,000 after purchasing an additional 5,480 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Raymond James upped their price objective on Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Truist Financial reiterated a “buy” rating and issued a $315.00 price target (up previously from $300.00) on shares of Salesforce in a report on Thursday, September 19th. Evercore ISI reissued an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a report on Monday, August 26th. Phillip Securities reaffirmed an “accumulate” rating and issued a $305.00 target price on shares of Salesforce in a research note on Friday, August 30th. Finally, Bank of America reissued a “buy” rating and set a $325.00 price target on shares of Salesforce in a research note on Friday, September 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.74.

Salesforce Stock Performance

Shares of CRM opened at $291.57 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The firm has a fifty day simple moving average of $259.05 and a 200 day simple moving average of $264.06. The stock has a market capitalization of $282.53 billion, a price-to-earnings ratio of 52.44, a PEG ratio of 2.39 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its quarterly earnings data 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 quarter last year, the company earned $1.63 EPS. Salesforce’s revenue for the quarter was up 8.5% compared to the same quarter last year. Research analysts forecast that Salesforce, Inc. will post 7.54 EPS for the current fiscal year.

Salesforce Announces Dividend

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 0.55%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is presently 28.78%.

Insider Activity at Salesforce

In other Salesforce news, COO Brian Millham sold 8,427 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $280.00, for a total transaction of $2,359,560.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the transaction, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brian Millham sold 8,427 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $280.00, for a total value of $2,359,560.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,412 shares of company stock valued at $20,071,723. 3.20% of the stock is owned by corporate insiders.

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.