RPg Family Wealth Advisory LLC Takes Position in Salesforce, Inc. (NYSE:CRM)

RPg Family Wealth Advisory LLC purchased a new position in shares of Salesforce, Inc. (NYSE:CRM) during the third quarter, Holdings Channel reports. The institutional investor purchased 537 shares of the CRM provider’s stock, valued at approximately $147,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. CreativeOne Wealth LLC increased its holdings in shares of Salesforce by 36.6% in the 3rd quarter. CreativeOne Wealth LLC now owns 9,935 shares of the CRM provider’s stock valued at $2,719,000 after acquiring an additional 2,664 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Salesforce by 130.7% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 431,492 shares of the CRM provider’s stock worth $118,104,000 after purchasing an additional 244,420 shares in the last quarter. Fernbridge Capital Management LP lifted its holdings in shares of Salesforce by 19.2% during the 3rd quarter. Fernbridge Capital Management LP now owns 1,072,422 shares of the CRM provider’s stock valued at $293,533,000 after purchasing an additional 172,534 shares during the last quarter. Transamerica Financial Advisors Inc. purchased a new stake in Salesforce in the third quarter valued at about $3,672,000. Finally, Shum Financial Group Inc. acquired a new stake in Salesforce in the third quarter worth about $1,158,000. Institutional investors own 80.43% of the company’s stock.

Insider Activity

In related news, CFO Amy E. Weaver sold 897 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $255,905.13. Following the completion of the sale, the chief financial officer now owns 52,930 shares in the company, valued at $15,100,399.70. This trade represents a 1.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Parker Harris sold 3,528 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $250.59, for a total transaction of $884,081.52. Following the completion of the sale, the insider now owns 117,581 shares of the company’s stock, valued at $29,464,622.79. The trade was a 2.91 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 144,510 shares of company stock worth $42,475,538. 3.20% of the stock is owned by company insiders.

Salesforce Price Performance

Shares of NYSE CRM opened at $338.00 on Wednesday. The business has a 50-day moving average of $298.02 and a 200-day moving average of $269.44. The company has a market capitalization of $323.13 billion, a price-to-earnings ratio of 59.69, a PEG ratio of 3.07 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $348.86.

Salesforce (NYSE:CRM) last issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.63 earnings per share. On average, equities analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. Salesforce’s payout ratio is 27.83%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CRM. Morgan Stanley increased their price objective on Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Scotiabank began coverage on shares of Salesforce in a research report on Monday, November 18th. They set a “sector outperform” rating and a $425.00 price target on the stock. Cfra set a $343.00 price target on shares of Salesforce in a research note on Thursday, October 17th. Finally, Phillip Securities reaffirmed an “accumulate” rating and issued a $305.00 target price on shares of Salesforce in a research report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $339.66.

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.