Salesforce, Inc. (NYSE:CRM) Shares Purchased by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 0.2% in the third quarter, HoldingsChannel.com reports. The fund owned 175,080 shares of the CRM provider’s stock after acquiring an additional 396 shares during the quarter. Salesforce comprises about 1.6% of Daymark Wealth Partners LLC’s portfolio, making the stock its 16th largest holding. Daymark Wealth Partners LLC’s holdings in Salesforce were worth $47,921,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Salesforce by 1.2% in 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 buying an additional 1,008,841 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Salesforce by 5.2% in the 4th quarter. Fisher Asset Management LLC now owns 14,905,462 shares of the CRM provider’s stock valued at $3,922,223,000 after acquiring an additional 736,986 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Salesforce by 26.9% in the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after acquiring an additional 3,044,611 shares during the period. Capital International Investors raised its holdings in shares of Salesforce by 3.0% during the first quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock worth $4,251,592,000 after purchasing an additional 407,834 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Salesforce by 2.2% during the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock valued at $2,141,562,000 after purchasing an additional 176,641 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. UBS Group lifted their price objective on Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Erste Group Bank reaffirmed a “hold” rating on shares of Salesforce in a research note on Wednesday, September 11th. Royal Bank of Canada reissued an “outperform” rating and set a $300.00 price target on shares of Salesforce in a report on Thursday, September 19th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $335.00 price objective on shares of Salesforce in a report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $310.74.

Insiders Place Their Bets

In related news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the transaction, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at $1,644,921.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the sale, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at $1,644,921.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $254.90, for a total transaction of $1,070,580.00. Following the completion of the transaction, the insider now directly owns 116,693 shares in the company, valued at $29,745,045.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,412 shares of company stock valued at $20,071,723. Insiders own 3.20% of the company’s stock.

Salesforce Trading Down 1.1 %

NYSE CRM traded down $3.21 during trading on Wednesday, hitting $288.36. The stock had a trading volume of 1,155,088 shares, compared to its average volume of 6,500,108. The company has a market capitalization of $279.42 billion, a PE ratio of 51.87, a PEG ratio of 2.39 and a beta of 1.30. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month 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 firm has a 50 day moving average price of $259.72 and a 200 day moving average price of $263.94.

Salesforce (NYSE:CRM) last announced its 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 firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm earned $1.63 EPS. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was 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.