Guardian Asset Advisors LLC Buys New Stake in Salesforce, Inc. (NYSE:CRM)

Guardian Asset Advisors LLC purchased a new stake in Salesforce, Inc. (NYSE:CRM) during the third quarter, HoldingsChannel.com reports. The firm purchased 1,490 shares of the CRM provider’s stock, valued at approximately $408,000.

A number of other large investors also recently modified their holdings of the stock. Ruedi Wealth Management Inc. increased its position in Salesforce by 186.7% during 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 boosted its position in Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares during the period. Clear Investment Research LLC boosted its position in shares of Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 98 shares during the period. Red Tortoise LLC purchased a new stake in Salesforce in the first quarter valued at approximately $33,000. Finally, Stephens Consulting LLC raised its stake 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 worth $33,000 after acquiring an additional 125 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on CRM shares. FBN Securities upgraded shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Stifel Nicolaus increased their target price on Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Canaccord Genuity Group boosted their price target on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. JMP Securities reaffirmed a “market outperform” rating and set a $342.00 target price on shares of Salesforce in a research note on Wednesday, August 28th. Finally, Citigroup upped their price target on Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Eight research 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $310.74.

Insider Buying and Selling at Salesforce

In related news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $288.42, for a total transaction of $1,211,364.00. Following the transaction, the insider now owns 118,514 shares in the company, valued at $34,181,807.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $288.42, for a total value of $1,211,364.00. Following the completion of the transaction, the insider now directly owns 118,514 shares of the company’s stock, valued at approximately $34,181,807.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $2,359,560.00. The disclosure for this sale can be found here. Insiders sold 80,612 shares of company stock worth $21,283,087 over the last ninety days. 3.20% of the stock is currently owned by insiders.

Salesforce Price Performance

CRM traded down $1.05 on Thursday, hitting $286.87. 658,919 shares of the company were exchanged, compared to its average volume of 6,489,163. 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’s fifty day moving average is $260.30 and its 200 day moving average is $264.11. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The firm has a market capitalization of $277.98 billion, a P/E ratio of 51.78, a price-to-earnings-growth ratio of 2.39 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (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 company had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the business earned $1.63 earnings per share. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Salesforce, Inc. will post 7.54 EPS for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) 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.