Strategic Investment Solutions Inc. IL Makes New $33,000 Investment in Salesforce, Inc. (NYSE:CRM)

Strategic Investment Solutions Inc. IL bought a new stake in Salesforce, Inc. (NYSE:CRM) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 128 shares of the CRM provider’s stock, valued at approximately $33,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CRM. Capital Research Global Investors grew its stake in shares of Salesforce by 26.9% during the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after acquiring an additional 3,044,611 shares during the period. GQG Partners LLC purchased a new stake in shares of Salesforce during the first quarter worth $910,220,000. Swedbank AB bought a new position in shares of Salesforce in the first quarter worth $874,748,000. Coatue Management LLC purchased a new position in shares of Salesforce in the fourth quarter valued at $564,188,000. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Salesforce by 48.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock valued at $1,518,658,000 after purchasing an additional 1,922,674 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CRM has been the topic of several recent analyst reports. Robert W. Baird increased their target price 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. DA Davidson increased their price target on shares of Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Northland Securities upgraded Salesforce from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $270.00 to $400.00 in a research report on Wednesday. Wedbush lifted their price target on shares of Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $300.00 target price on shares of Salesforce in a report on Monday, August 26th. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $310.74.

Salesforce Stock Up 0.5 %

Shares of NYSE CRM opened at $280.83 on Friday. 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 stock has a 50 day moving average price of $258.03 and a 200 day moving average price of $264.86. The firm has a market capitalization of $272.12 billion, a price-to-earnings ratio of 50.51, 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.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. Salesforce’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.63 earnings per share. Sell-side analysts expect that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be paid a dividend of $0.40 per share. 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 0.57%. Salesforce’s payout ratio is currently 28.78%.

Insider Transactions at Salesforce

In related news, insider Parker Harris sold 2,800 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total value of $675,416.00. Following the completion of the sale, the insider now owns 117,581 shares of the company’s stock, valued at approximately $28,362,888.82. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the sale, the chief accounting officer now directly owns 6,431 shares in the company, valued at $1,644,921.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 2,800 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total value of $675,416.00. Following the completion of the transaction, the insider now owns 117,581 shares in the company, valued at approximately $28,362,888.82. The disclosure for this sale can be found here. Insiders sold a total of 80,612 shares of company stock valued at $21,133,273 in the last three months. 3.20% of the stock is currently owned by company insiders.

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.