Wedmont Private Capital Purchases 1,098 Shares of Salesforce, Inc. (NYSE:CRM)

Wedmont Private Capital increased its position in Salesforce, Inc. (NYSE:CRM) by 6.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,972 shares of the CRM provider’s stock after purchasing an additional 1,098 shares during the period. Wedmont Private Capital’s holdings in Salesforce were worth $4,830,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Prentice Wealth Management LLC boosted its stake in shares of Salesforce by 1.5% in the third quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock worth $686,000 after acquiring an additional 37 shares during the period. Fox Hill Wealth Management raised its position in shares of Salesforce by 4.0% during the first quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock valued at $297,000 after buying an additional 38 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its holdings in shares of Salesforce by 0.8% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after buying an additional 38 shares in the last quarter. Fulton Bank N.A. boosted its position in shares of Salesforce by 0.4% during the third quarter. Fulton Bank N.A. now owns 9,269 shares of the CRM provider’s stock worth $2,537,000 after acquiring an additional 38 shares during the last quarter. Finally, Blue Barn Wealth LLC lifted its stake in Salesforce by 1.8% in the 1st quarter. Blue Barn Wealth LLC now owns 2,207 shares of the CRM provider’s stock worth $665,000 after purchasing an additional 39 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 1.3 %

Shares of NYSE:CRM opened at $287.92 on Thursday. The business has a 50-day moving average price of $259.72 and a 200-day moving average price of $263.94. The stock has a market cap of $278.99 billion, a price-to-earnings ratio of 51.78, a PEG ratio of 2.39 and a beta of 1.30. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. 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 (NYSE:CRM) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.63 earnings per share. Equities analysts predict that Salesforce, Inc. will post 7.54 EPS for the current year.

Salesforce Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CRM. Roth Mkm reaffirmed a “buy” rating and issued a $335.00 price objective on shares of Salesforce in a research note on Thursday, August 29th. Citigroup raised their price target on Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Northland Securities upgraded shares of Salesforce from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $270.00 to $400.00 in a research report on Wednesday, October 2nd. Stifel Nicolaus raised their target price on shares of Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $300.00 price target on shares of Salesforce in a research note on Thursday, September 19th. Eight research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $310.74.

Insiders Place Their Bets

In related news, Director Maynard G. Webb, Jr. sold 9,170 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $276.32, for a total value of $2,533,854.40. Following the completion of the transaction, the director now directly owns 1,363 shares in the company, valued at $376,624.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Salesforce news, insider Parker Harris sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total value of $675,416.00. Following the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $28,362,888.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Maynard G. Webb, Jr. sold 9,170 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total value of $2,533,854.40. Following the transaction, the director now directly owns 1,363 shares of the company’s stock, valued at approximately $376,624.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,612 shares of company stock worth $21,283,087. Corporate insiders own 3.20% of the company’s stock.

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.