Salesforce, Inc. (NYSE:CRM) Shares Purchased by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC grew its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 174,684 shares of the CRM provider’s stock after purchasing an additional 3,456 shares during the quarter. Salesforce makes up about 1.6% of Daymark Wealth Partners LLC’s portfolio, making the stock its 14th biggest holding. Daymark Wealth Partners LLC’s holdings in Salesforce were worth $44,911,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Fox Hill Wealth Management grew its stake in Salesforce by 4.0% during the 1st quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock valued at $297,000 after acquiring an additional 38 shares in the last quarter. Pinnacle Wealth Planning Services Inc. boosted its stake in Salesforce by 0.8% during 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 during the last quarter. Blue Barn Wealth LLC raised its holdings in shares of Salesforce by 1.8% during the 1st quarter. Blue Barn Wealth LLC now owns 2,207 shares of the CRM provider’s stock worth $665,000 after acquiring an additional 39 shares during the period. Catalyst Financial Partners LLC boosted its position in shares of Salesforce by 0.8% during the 2nd quarter. Catalyst Financial Partners LLC now owns 4,876 shares of the CRM provider’s stock valued at $1,254,000 after acquiring an additional 39 shares during the last quarter. Finally, DSC Advisors L.P. increased its position in Salesforce by 3.1% during the second quarter. DSC Advisors L.P. now owns 1,302 shares of the CRM provider’s stock worth $335,000 after purchasing an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the subject of several analyst reports. UBS Group increased their price objective on Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. JMP Securities restated a “market outperform” rating and issued a $342.00 price objective on shares of Salesforce in a report on Wednesday, August 28th. Jefferies Financial Group lowered their target price on shares of Salesforce from $360.00 to $350.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Canaccord Genuity Group boosted their price target on shares of Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, BNP Paribas raised shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $307.73.

Salesforce Price Performance

CRM stock opened at $274.09 on Thursday. The business has a 50 day moving average price of $254.66 and a 200 day moving average price of $265.66. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a market cap of $262.03 billion, a price-to-earnings ratio of 49.30, a PEG ratio of 2.39 and a beta of 1.29. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71.

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, beating the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the prior year, the business posted $1.63 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities research analysts anticipate that Salesforce, Inc. will post 7.54 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be given 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 0.58%. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Insider Buying and Selling

In other Salesforce news, COO Brian Millham sold 5,735 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $266.22, for a total value of $1,526,771.70. Following the completion of the sale, the chief operating officer now owns 1,663 shares in the company, valued at $442,723.86. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Salesforce news, COO Brian Millham sold 5,735 shares of Salesforce stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $266.22, for a total value of $1,526,771.70. Following the transaction, the chief operating officer now directly owns 1,663 shares in the company, valued at $442,723.86. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Parker Harris sold 942 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $264.78, for a total transaction of $249,422.76. Following the sale, the insider now owns 118,514 shares of the company’s stock, valued at approximately $31,380,136.92. The disclosure for this sale can be found here. Insiders have sold 65,033 shares of company stock worth $16,699,397 in the last quarter. 3.20% of the stock is owned by insiders.

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.