Quotient Wealth Partners LLC Raises Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Quotient Wealth Partners LLC boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 1.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 4,608 shares of the CRM provider’s stock after acquiring an additional 88 shares during the quarter. Quotient Wealth Partners LLC’s holdings in Salesforce were worth $1,261,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Ruedi Wealth Management Inc. increased its holdings in Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after buying an additional 56 shares during the period. Piscataqua Savings Bank boosted its holdings in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. Clear Investment Research LLC increased its stake in shares of Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares during the period. Red Tortoise LLC purchased a new position in shares of Salesforce during the first quarter worth $33,000. Finally, Stephens Consulting LLC lifted its position in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the 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 sale, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at $1,644,921.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 transaction of $105,637.14. Following the completion of the sale, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at $1,644,921.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Amy E. Weaver sold 897 shares of the 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 $13,072,660.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 80,612 shares of company stock valued at $21,283,087 over the last three months. 3.20% of the stock is owned by insiders.

Salesforce Price Performance

CRM traded down $0.04 during trading on Thursday, reaching $287.88. 1,234,764 shares of the stock were exchanged, compared to its average volume of 6,492,101. 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 business’s 50 day moving average price is $260.30 and its two-hundred day moving average price is $264.11. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The company has a market capitalization of $278.96 billion, a price-to-earnings ratio of 51.65, a P/E/G ratio of 2.39 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued 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 the consensus estimate of $9.22 billion. During the same period in the previous year, the firm posted $1.63 EPS. Salesforce’s revenue was up 8.5% on a year-over-year basis. As a group, equities research analysts anticipate that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.56%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 28.78%.

Analyst Ratings Changes

CRM has been the topic of several analyst reports. Loop Capital reaffirmed a “hold” rating and set a $270.00 price target on shares of Salesforce in a research report on Thursday, September 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 target price on shares of Salesforce in a report on Friday, September 20th. FBN Securities raised Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Wells Fargo & Company upped their price objective on Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 29th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $300.00 target price on shares of Salesforce in a report on Monday, August 26th. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $310.74.

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.