Evermay Wealth Management LLC Has $470,000 Holdings in Salesforce, Inc. (NYSE:CRM)

Evermay Wealth Management LLC grew its stake in Salesforce, Inc. (NYSE:CRM) by 32.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,788 shares of the CRM provider’s stock after buying an additional 433 shares during the quarter. Evermay Wealth Management LLC’s holdings in Salesforce were worth $470,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CRM. Bear Mountain Capital Inc. acquired a new position in shares of Salesforce in the fourth quarter valued at approximately $26,000. Signature Resources Capital Management LLC acquired a new position in Salesforce during the fourth quarter worth $26,000. Kathleen S. Wright Associates Inc. acquired a new position in Salesforce during the fourth quarter worth $31,000. Pacifica Partners Inc. boosted its holdings in Salesforce by 333.3% during the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. Finally, BKM Wealth Management LLC bought a new position in shares of Salesforce in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of Salesforce stock traded down $6.28 during midday trading on Friday, hitting $272.29. 8,325,132 shares of the company traded hands, compared to its average volume of 3,819,083. The stock has a market cap of $263.58 billion, a price-to-earnings ratio of 64.83, a PEG ratio of 2.40 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The firm’s fifty day moving average price is $286.94 and its 200-day moving average price is $275.05. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The firm had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the previous year, the firm posted $1.01 EPS. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s payout ratio is 9.52%.

Insiders Place Their Bets

In other news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $285.00, for a total value of $4,275,000.00. Following the transaction, the chief executive officer now owns 12,482,327 shares in the company, valued at approximately $3,557,463,195. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $299.60, for a total transaction of $1,258,320.00. Following the transaction, the insider now owns 104,904 shares in the company, valued at approximately $31,429,238.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $285.00, for a total transaction of $4,275,000.00. Following the transaction, the chief executive officer now owns 12,482,327 shares in the company, valued at approximately $3,557,463,195. The disclosure for this sale can be found here. Insiders have sold 636,344 shares of company stock valued at $184,877,874 in the last ninety days. 3.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. StockNews.com lowered shares of Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. Oppenheimer increased their price objective on shares of Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Monday, February 12th. UBS Group increased their price objective on shares of Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. increased their price objective on shares of Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $350.00 price target on shares of Salesforce in a research report on Friday. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $310.94.

Salesforce 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.