Baker Tilly Wealth Management LLC Purchases 208 Shares of Salesforce, Inc. (NYSE:CRM)

Baker Tilly Wealth Management LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 5.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,201 shares of the CRM provider’s stock after buying an additional 208 shares during the period. Baker Tilly Wealth Management LLC’s holdings in Salesforce were worth $1,405,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce during the 3rd quarter valued at about $27,000. Clear Investment Research LLC grew 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 valued at $28,000 after acquiring an additional 98 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in shares of Salesforce in the second quarter valued at about $33,000. Godsey & Gibb Inc. boosted its stake in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares during the period. Finally, Annapolis Financial Services LLC grew its stake in Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after acquiring an additional 80 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Performance

CRM stock traded down $8.12 during trading on Friday, hitting $318.78. 2,268,347 shares of the company traded hands, compared to its average volume of 4,175,304. The company has a market cap of $305.07 billion, a PE ratio of 52.43, a P/E/G ratio of 3.21 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock’s 50-day simple moving average is $335.36 and its 200 day simple moving average is $288.53. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same quarter in the prior year, the company posted $1.62 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. On average, equities analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.50%. Salesforce’s payout ratio is presently 26.32%.

Analysts Set New Price Targets

Several research analysts have commented on CRM shares. Bank of America increased their price objective on shares of Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Wedbush restated an “outperform” rating and set a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Jefferies Financial Group raised their target price on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. DA Davidson increased their target price on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, UBS Group raised their price objective on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $376.05.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the transaction, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at $1,998,741.74. The trade was a 5.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider R David Schmaier sold 1,785 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $344.00, for a total transaction of $614,040.00. Following the sale, the insider now owns 19,116 shares in the company, valued at approximately $6,575,904. This trade represents a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,181,817 shares of company stock worth $404,760,429 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

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.