Salesforce, Inc. (NYSE:CRM) Stock Position Lowered by HBW Advisory Services LLC

HBW Advisory Services LLC lowered its position in shares of Salesforce, Inc. (NYSE:CRM) by 13.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 16,172 shares of the CRM provider’s stock after selling 2,498 shares during the period. Salesforce accounts for 0.6% of HBW Advisory Services LLC’s investment portfolio, making the stock its 29th largest position. HBW Advisory Services LLC’s holdings in Salesforce were worth $4,427,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Ruedi Wealth Management Inc. raised its holdings in shares of Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares in the last quarter. Piscataqua Savings Bank lifted its position in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. Clear Investment Research LLC boosted its stake in shares of Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares in the last quarter. Red Tortoise LLC acquired a new position in shares of Salesforce in the 1st quarter worth $33,000. Finally, Stephens Consulting LLC lifted its holdings in shares of Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Salesforce

In related news, COO Brian Millham sold 8,427 shares of Salesforce stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $280.00, for a total transaction of $2,359,560.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, COO Brian Millham sold 8,427 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $280.00, for a total transaction of $2,359,560.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $271.75, for a total transaction of $1,141,350.00. Following the completion of the transaction, the insider now directly owns 118,514 shares of the company’s stock, valued at approximately $32,206,179.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,612 shares of company stock worth $21,133,273. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Loop Capital restated a “hold” rating and set a $270.00 price objective on shares of Salesforce in a report on Thursday, September 19th. UBS Group boosted their price target on shares of Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Roth Mkm reaffirmed a “buy” rating and issued a $335.00 price objective on shares of Salesforce in a research note on Thursday, August 29th. TD Cowen boosted their target price on shares of Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $300.00 price target on shares of Salesforce in a report on Thursday, September 19th. Eight investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $310.74.

Salesforce Trading Up 1.9 %

Shares of CRM stock traded up $5.29 during mid-day trading on Friday, reaching $286.20. 3,488,036 shares of the stock traded hands, compared to its average volume of 6,529,776. The stock’s fifty day simple moving average is $258.03 and its two-hundred day simple moving average is $264.86. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a market cap of $277.33 billion, a price-to-earnings ratio of 50.94, a price-to-earnings-growth ratio of 2.39 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm posted $1.63 EPS. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, research analysts anticipate that Salesforce, Inc. will post 7.54 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 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.