Salesforce, Inc. (NYSE:CRM) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 31,836 shares of the CRM provider’s stock after selling 245 shares during the quarter. Meyer Handelman Co.’s holdings in Salesforce were worth $10,644,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Infrastructure Capital Advisors LLC acquired a new position in Salesforce during the 3rd quarter valued at about $27,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce during the second quarter valued at approximately $33,000. Godsey & Gibb Inc. raised its holdings in Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares in the last quarter. Annapolis Financial Services LLC lifted its position in Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after purchasing an additional 80 shares during the period. Finally, FSA Wealth Management LLC bought a new position in Salesforce during the 3rd quarter valued at $53,000. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CRM. Needham & Company LLC boosted their price objective on Salesforce from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Scotiabank upped their price target on shares of Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. The Goldman Sachs Group lifted their price objective on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Piper Sandler restated an “overweight” rating and issued a $405.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Bank of America increased their price objective on Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $376.05.

Salesforce Stock Performance

CRM opened at $323.31 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $309.41 billion, a PE ratio of 53.18, a price-to-earnings-growth ratio of 3.20 and a beta of 1.30. The stock has a 50-day moving average of $336.76 and a 200-day moving average of $290.66. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

Salesforce (NYSE:CRM) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $9.35 billion. During the same quarter last year, the firm posted $1.62 earnings per share. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Insiders Place Their Bets

In other news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $288.82, for a total transaction of $1,213,044.00. Following the completion of the transaction, the insider now directly owns 118,514 shares in the company, valued at $34,229,213.48. The trade was a 3.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the completion of the sale, the chief executive officer now owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,177,617 shares of company stock valued at $403,542,975 in the last quarter. Insiders own 3.20% of the company’s stock.

Salesforce Company 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.