Duncan Williams Asset Management LLC Takes Position in Salesforce, Inc. (NYSE:CRM)

Duncan Williams Asset Management LLC purchased a new stake in Salesforce, Inc. (NYSE:CRM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,294 shares of the CRM provider’s stock, valued at approximately $628,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Apella Capital LLC raised its position in shares of Salesforce by 1.5% in the third quarter. Apella Capital LLC now owns 5,472 shares of the CRM provider’s stock valued at $1,529,000 after purchasing an additional 82 shares during the period. Unique Wealth LLC increased its holdings in Salesforce by 12.9% during the 3rd quarter. Unique Wealth LLC now owns 6,972 shares of the CRM provider’s stock worth $1,908,000 after acquiring an additional 798 shares during the period. Czech National Bank increased its holdings in Salesforce by 6.7% during the 3rd quarter. Czech National Bank now owns 197,395 shares of the CRM provider’s stock worth $54,029,000 after acquiring an additional 12,314 shares during the period. Massmutual Trust Co. FSB ADV increased its holdings in Salesforce by 1.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 28,142 shares of the CRM provider’s stock worth $7,703,000 after acquiring an additional 319 shares during the period. Finally, Weybosset Research & Management LLC increased its holdings in Salesforce by 7.0% during the 3rd quarter. Weybosset Research & Management LLC now owns 1,075 shares of the CRM provider’s stock worth $294,000 after acquiring an additional 70 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In related news, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $252.75, for a total value of $1,061,550.00. Following the completion of the transaction, the insider now directly owns 116,693 shares in the company, valued at approximately $29,494,155.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Amy E. Weaver sold 897 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $229,434.66. Following the completion of the transaction, the chief financial officer now directly owns 51,109 shares in the company, valued at approximately $13,072,660.02. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction dated 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 transaction, the insider now owns 116,693 shares of the company’s stock, valued at $29,494,155.75. The disclosure for this sale can be found here. Insiders sold a total of 80,612 shares of company stock worth $21,133,273 in the last three months. 3.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CRM has been the topic of a number of analyst reports. Roth Mkm reaffirmed a “buy” rating and set a $335.00 target price on shares of Salesforce in a report on Thursday, August 29th. Truist Financial reaffirmed a “buy” rating and set a $315.00 target price (up previously from $300.00) on shares of Salesforce in a report on Thursday, September 19th. Northland Securities raised shares of Salesforce from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $270.00 to $400.00 in a report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 target price on shares of Salesforce in a report on Friday, September 20th. Finally, Piper Sandler raised shares of Salesforce from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $268.00 to $325.00 in a research note on Tuesday, September 24th. Eight investment 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 stock. According to MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average price target of $310.74.

Salesforce Stock Up 0.5 %

Shares of NYSE CRM opened at $280.83 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The firm has a market capitalization of $272.12 billion, a PE ratio of 50.51, a price-to-earnings-growth ratio of 2.39 and a beta of 1.30. The firm has a fifty day simple moving average of $258.03 and a two-hundred day simple moving average of $264.86.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping 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 analyst estimates of $9.22 billion. During the same period in the prior year, the business earned $1.63 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities analysts expect that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Announces Dividend

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 issued a $0.40 dividend. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.57%. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

About Salesforce

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.