Salesforce, Inc. (NYSE:CRM) Shares Acquired by Strategic Wealth Partners Ltd.

Strategic Wealth Partners Ltd. grew its holdings in Salesforce, Inc. (NYSE:CRM) by 6.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,875 shares of the CRM provider’s stock after buying an additional 2,148 shares during the quarter. Salesforce comprises 0.9% of Strategic Wealth Partners Ltd.’s investment portfolio, making the stock its 27th biggest holding. Strategic Wealth Partners Ltd.’s holdings in Salesforce were worth $9,819,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CRM. Capital Research Global Investors lifted 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 valued at $4,329,925,000 after buying an additional 3,044,611 shares during the period. GQG Partners LLC acquired a new stake in shares of Salesforce in the 1st quarter valued at approximately $910,220,000. Swedbank AB acquired a new position in Salesforce during the first quarter worth $874,748,000. Coatue Management LLC acquired a new position in Salesforce during the fourth quarter worth $564,188,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in Salesforce by 48.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after purchasing an additional 1,922,674 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Trading Up 2.5 %

NYSE:CRM opened at $291.57 on Wednesday. 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 one year low of $193.68 and a one year high of $318.71. The business’s 50-day simple moving average is $259.05 and its 200 day simple moving average is $264.06. The stock has a market cap of $282.53 billion, a price-to-earnings ratio of 52.44, a price-to-earnings-growth ratio of 2.39 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 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 business had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the firm posted $1.63 earnings per share. The company’s revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.54 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is currently 28.78%.

Analyst Ratings Changes

Several brokerages recently issued reports on CRM. Erste Group Bank reaffirmed a “hold” rating on shares of Salesforce in a report on Wednesday, September 11th. Phillip Securities reaffirmed an “accumulate” rating and set a $305.00 price objective on shares of Salesforce in a report on Friday, August 30th. Truist Financial reaffirmed a “buy” rating and set a $315.00 price objective (up from $300.00) on shares of Salesforce in a report on Thursday, September 19th. TD Cowen lifted their price objective on Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. raised their price target on Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $310.74.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the company’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 sale, the chief accounting officer now owns 6,431 shares in the company, valued at $1,644,921.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Sundeep G. Reddy sold 413 shares of the 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 sale, the chief accounting officer now directly owns 6,431 shares in the company, valued at approximately $1,644,921.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $254.90, for a total value of $1,070,580.00. Following the sale, the insider now owns 116,693 shares in the company, valued at $29,745,045.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,412 shares of company stock worth $20,071,723 over the last quarter. 3.20% of the stock is owned by corporate insiders.

About Salesforce

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.