Northeast Financial Consultants Inc Has $4.28 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Northeast Financial Consultants Inc increased its position in Salesforce, Inc. (NYSE:CRM) by 14.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,628 shares of the CRM provider’s stock after buying an additional 2,055 shares during the quarter. Northeast Financial Consultants Inc’s holdings in Salesforce were worth $4,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Salesforce by 1.2% during the first quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock valued at $25,490,446,000 after acquiring an additional 1,008,841 shares during the last quarter. Capital World Investors increased its holdings in Salesforce by 2.4% in the fourth quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock valued at $5,147,402,000 after purchasing an additional 457,463 shares during the period. Fisher Asset Management LLC lifted its holdings in Salesforce by 5.2% during the 4th quarter. Fisher Asset Management LLC now owns 14,905,462 shares of the CRM provider’s stock worth $3,922,223,000 after buying an additional 736,986 shares during the period. Capital Research Global Investors grew its position in shares of Salesforce by 26.9% in 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 buying an additional 3,044,611 shares during the last quarter. Finally, Capital International Investors grew its position in shares of Salesforce by 3.0% in the 1st quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock valued at $4,251,592,000 after buying an additional 407,834 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $342.00 price objective on shares of Salesforce in a research note on Wednesday, August 28th. UBS Group upped their price objective on shares of Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Wedbush boosted their target price on shares of Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Friday. Needham & Company LLC reiterated a “buy” rating and set a $345.00 price target on shares of Salesforce in a report on Friday, September 20th. Finally, Canaccord Genuity Group lifted their price objective on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $308.03.

Salesforce Price Performance

CRM opened at $276.64 on Friday. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $268.06 billion, a price-to-earnings ratio of 49.76, a P/E/G ratio of 2.39 and a beta of 1.29. The firm’s fifty day moving average price is $256.26 and its two-hundred day moving average price is $265.30.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm’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 company earned $1.63 earnings per share. As a group, analysts anticipate that Salesforce, Inc. will post 7.54 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be issued 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 yield of 0.58%. Salesforce’s dividend payout ratio (DPR) is currently 28.78%.

Insiders Place Their Bets

In other news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $252.75, for a total transaction of $1,061,550.00. Following the completion of the sale, the insider now directly owns 116,693 shares of the company’s stock, valued at approximately $29,494,155.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the transaction, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $252.75, for a total transaction of $1,061,550.00. Following the completion of the sale, the insider now directly owns 116,693 shares in the company, valued at approximately $29,494,155.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,185 shares of company stock valued at $18,708,571. Insiders own 3.20% of the company’s stock.

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.