Fidelis Capital Partners LLC Increases Holdings in Salesforce, Inc. (NYSE:CRM)

Fidelis Capital Partners LLC boosted its position in Salesforce, Inc. (NYSE:CRM) by 3.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,543 shares of the CRM provider’s stock after purchasing an additional 320 shares during the period. Fidelis Capital Partners LLC’s holdings in Salesforce were worth $2,291,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Salesforce by 1.2% in 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 purchasing an additional 1,008,841 shares during the last quarter. Capital World Investors lifted its stake in Salesforce by 2.4% in 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 buying an additional 457,463 shares in the last quarter. Fisher Asset Management LLC grew its holdings 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 valued at $3,922,223,000 after buying an additional 736,986 shares during the last quarter. Capital Research Global Investors increased its position in Salesforce by 26.9% during the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after buying an additional 3,044,611 shares in the last quarter. Finally, Capital International Investors raised its holdings in shares of Salesforce by 3.0% in the first 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 during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $257.04, for a total transaction of $1,079,568.00. Following the sale, the insider now owns 117,581 shares in the company, valued at $30,223,020.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Miguel Milano sold 2,934 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $262.95, for a total transaction of $771,495.30. Following the completion of the sale, the insider now owns 3,716 shares of the company’s stock, valued at approximately $977,122.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $257.04, for a total transaction of $1,079,568.00. Following the completion of the transaction, the insider now directly owns 117,581 shares in the company, valued at approximately $30,223,020.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,576 shares of company stock worth $16,957,573. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Canaccord Genuity Group increased their price objective on Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Sanford C. Bernstein lifted their price target on shares of Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. FBN Securities raised shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Loop Capital reaffirmed a “hold” rating and issued a $270.00 target price on shares of Salesforce in a research note on Thursday. Finally, Citigroup boosted their price target on Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $306.00.

Salesforce Trading Up 0.3 %

NYSE:CRM opened at $266.80 on Friday. The stock has a market cap of $258.53 billion, a price-to-earnings ratio of 47.99, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The business’s 50-day simple moving average is $254.14 and its 200 day simple moving average is $266.44.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (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 company had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the prior year, the company posted $1.63 EPS. Salesforce’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced 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 of this dividend is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.60%. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Salesforce 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.