Daymark Wealth Partners LLC Increases Stock Position in Salesforce, Inc. (NYSE:CRM)

Daymark Wealth Partners LLC raised its stake in Salesforce, Inc. (NYSE:CRM) by 0.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 175,080 shares of the CRM provider’s stock after buying an additional 396 shares during the period. Salesforce comprises about 1.6% of Daymark Wealth Partners LLC’s investment portfolio, making the stock its 16th biggest position. Daymark Wealth Partners LLC’s holdings in Salesforce were worth $47,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in CRM. Ruedi Wealth Management Inc. grew its stake in shares of Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after buying an additional 56 shares during the last quarter. Piscataqua Savings Bank raised its stake in shares of Salesforce by 2,400.0% during the second 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. Red Tortoise LLC bought a new stake in shares of Salesforce in the first quarter worth about $33,000. Clear Investment Research LLC increased its holdings in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new position in Salesforce during the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CRM. Wedbush boosted their target price on Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Truist Financial restated a “buy” rating and issued a $315.00 price objective (up from $300.00) on shares of Salesforce in a report on Thursday, September 19th. Northland Capmk upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Erste Group Bank reissued a “hold” rating on shares of Salesforce in a research report on Wednesday, September 11th. Finally, Robert W. Baird increased their price target on shares of Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. 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 target price of $310.74.

Insider Transactions at Salesforce

In other Salesforce news, COO Brian Millham sold 8,427 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $280.00, for a total transaction of $2,359,560.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Salesforce news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $271.75, for a total value of $1,141,350.00. Following the transaction, the insider now directly owns 118,514 shares of the company’s stock, valued at approximately $32,206,179.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brian Millham sold 8,427 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $280.00, for a total transaction of $2,359,560.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,412 shares of company stock worth $20,071,723. Insiders own 3.20% of the company’s stock.

Salesforce Price Performance

CRM stock traded down $3.21 during midday trading on Wednesday, hitting $288.36. The company’s stock had a trading volume of 1,155,088 shares, compared to its average volume of 6,500,108. The firm has a market capitalization of $279.42 billion, a price-to-earnings ratio of 51.87, a price-to-earnings-growth ratio of 2.39 and a beta of 1.30. The company has a quick ratio of 1.04, a current 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 company has a 50 day moving average of $259.72 and a two-hundred day moving average of $263.94.

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

Salesforce Dividend Announcement

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

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.