Salesforce, Inc. (NYSE:CRM) Stock Position Increased by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 3.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 9,543 shares of the CRM provider’s stock after buying an additional 320 shares during the period. Fidelis Capital Partners LLC’s holdings in Salesforce were worth $2,291,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Gilbert & Cook Inc. increased its position in Salesforce by 6.9% in the 4th quarter. Gilbert & Cook Inc. now owns 5,659 shares of the CRM provider’s stock valued at $1,489,000 after acquiring an additional 366 shares during the period. Aveo Capital Partners LLC grew its stake in shares of Salesforce by 44.7% in the fourth quarter. Aveo Capital Partners LLC now owns 1,605 shares of the CRM provider’s stock worth $422,000 after purchasing an additional 496 shares in the last quarter. 9258 Wealth Management LLC increased its holdings in shares of Salesforce by 24.0% during the fourth quarter. 9258 Wealth Management LLC now owns 6,483 shares of the CRM provider’s stock valued at $1,706,000 after purchasing an additional 1,253 shares during the period. Gryphon Financial Partners LLC raised its stake in shares of Salesforce by 32.4% during the fourth quarter. Gryphon Financial Partners LLC now owns 3,960 shares of the CRM provider’s stock valued at $1,064,000 after purchasing an additional 970 shares in the last quarter. Finally, TrinityPoint Wealth LLC lifted its holdings in Salesforce by 1.7% in the fourth quarter. TrinityPoint Wealth LLC now owns 8,036 shares of the CRM provider’s stock worth $2,115,000 after purchasing an additional 133 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Up 0.3 %

Shares of NYSE CRM opened at $266.80 on Friday. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. 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 business has a fifty day moving average of $254.14 and a two-hundred day moving average of $266.44. The stock has a market cap of $258.53 billion, a PE ratio of 47.99, a PEG ratio of 2.26 and a beta of 1.29.

Salesforce (NYSE:CRM) last released its quarterly 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 net margin of 15.44% and a return on equity of 12.01%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.63 earnings per share. As a group, equities research analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders 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 annualized dividend and a yield of 0.60%. Salesforce’s payout ratio is 28.78%.

Insiders Place Their Bets

In other news, insider Srinivas Tallapragada sold 942 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $242.32, for a total value of $228,265.44. Following the completion of the sale, the insider now directly owns 22,154 shares in the company, valued at $5,368,357.28. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total value of $1,104,474.00. Following the completion of the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $30,920,275.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Srinivas Tallapragada sold 942 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $242.32, for a total value of $228,265.44. Following the transaction, the insider now directly owns 22,154 shares in the company, valued at approximately $5,368,357.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,576 shares of company stock valued at $16,957,573. 3.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on CRM shares. Stifel Nicolaus upped their price target on shares of Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. FBN Securities upgraded Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft lowered their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Phillip Securities restated an “accumulate” rating and issued a $305.00 price objective on shares of Salesforce in a report on Friday, August 30th. Finally, Raymond James lifted their target price on Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $306.00.

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.