Quotient Wealth Partners LLC Buys 88 Shares of Salesforce, Inc. (NYSE:CRM)

Quotient Wealth Partners LLC raised its stake in Salesforce, Inc. (NYSE:CRM) by 1.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,608 shares of the CRM provider’s stock after acquiring an additional 88 shares during the period. Quotient Wealth Partners LLC’s holdings in Salesforce were worth $1,261,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Capital Research Global Investors lifted its holdings in Salesforce by 26.9% during the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after purchasing an additional 3,044,611 shares during the last quarter. GQG Partners LLC acquired a new position in shares of Salesforce in the 1st quarter worth approximately $910,220,000. Swedbank AB bought a new stake in Salesforce during the 1st quarter worth approximately $874,748,000. Coatue Management LLC acquired a new stake in Salesforce during the 4th quarter valued at $564,188,000. Finally, Massachusetts Financial Services Co. MA raised its position in Salesforce by 48.3% in 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 last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Salesforce

In related news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $288.42, for a total transaction of $1,211,364.00. Following the transaction, the insider now directly owns 118,514 shares in the company, valued at approximately $34,181,807.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $288.42, for a total transaction of $1,211,364.00. Following the completion of the transaction, the insider now owns 118,514 shares in the company, valued at approximately $34,181,807.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider R David Schmaier sold 1,155 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $295,425.90. Following the completion of the sale, the insider now owns 20,556 shares in the company, valued at $5,257,813.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 80,612 shares of company stock worth $21,283,087 over the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CRM. Erste Group Bank restated a “hold” rating on shares of Salesforce in a research note on Wednesday, September 11th. Raymond James raised their price objective on shares of Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. BNP Paribas upgraded shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. DA Davidson raised their price target on shares of Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 price objective on shares of Salesforce in a report on Friday, September 20th. Eight research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $310.74.

Salesforce Stock Down 0.0 %

Shares of NYSE CRM traded down $0.04 during midday trading on Thursday, reaching $287.88. The company’s stock had a trading volume of 1,234,764 shares, compared to its average volume of 6,492,101. The stock has a 50 day simple moving average of $260.30 and a 200-day simple moving average of $264.11. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $278.96 billion, a price-to-earnings ratio of 51.65, a PEG ratio of 2.39 and a beta of 1.30. 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 quarterly 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 firm had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the previous year, the business earned $1.63 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. Equities research analysts predict that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.56%. Salesforce’s dividend payout ratio (DPR) is presently 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.