Salesforce, Inc. (NYSE:CRM) Position Increased by Harrell Investment Partners LLC

Harrell Investment Partners LLC raised its position in shares of Salesforce, Inc. (NYSE:CRM) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,104 shares of the CRM provider’s stock after buying an additional 133 shares during the quarter. Salesforce accounts for 1.2% of Harrell Investment Partners LLC’s portfolio, making the stock its 29th largest position. Harrell Investment Partners LLC’s holdings in Salesforce were worth $4,381,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of CRM. Clarendon Private LLC acquired a new position in shares of Salesforce in the 4th quarter valued at about $770,000. Crescent Grove Advisors LLC increased its holdings in shares of Salesforce by 24.0% in the 4th quarter. Crescent Grove Advisors LLC now owns 1,050 shares of the CRM provider’s stock valued at $351,000 after purchasing an additional 203 shares during the period. Jamison Private Wealth Management Inc. increased its holdings in shares of Salesforce by 12.1% in the 4th quarter. Jamison Private Wealth Management Inc. now owns 7,741 shares of the CRM provider’s stock valued at $2,588,000 after purchasing an additional 837 shares during the period. First Citizens Bank & Trust Co. increased its holdings in shares of Salesforce by 62.0% in the 4th quarter. First Citizens Bank & Trust Co. now owns 4,473 shares of the CRM provider’s stock valued at $1,495,000 after purchasing an additional 1,712 shares during the period. Finally, Archford Capital Strategies LLC increased its holdings in shares of Salesforce by 3.0% in the 4th quarter. Archford Capital Strategies LLC now owns 8,024 shares of the CRM provider’s stock valued at $2,683,000 after purchasing an additional 234 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the completion of the transaction, the chief financial officer now directly owns 53,861 shares in the company, valued at approximately $18,474,323. The trade was a 10.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Brian Millham sold 708 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $235,254.24. Following the completion of the transaction, the chief operating officer now owns 1,239 shares of the company’s stock, valued at $411,694.92. This represents a 36.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,173,891 shares of company stock valued at $402,840,388 in the last ninety days. 3.20% of the stock is owned by insiders.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $333.47 on Friday. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The firm has a market cap of $319.13 billion, a PE ratio of 54.85, a price-to-earnings-growth ratio of 3.01 and a beta of 1.30. 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 business has a fifty day moving average of $336.73 and a 200-day moving average of $294.01.

Salesforce (NYSE:CRM) last announced its earnings results 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). The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.62 earnings per share. On average, equities research analysts predict that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Analysts Set New Price Targets

A number of research firms recently commented on CRM. Royal Bank of Canada increased their price objective on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Barclays increased their price objective on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Needham & Company LLC increased their price objective on Salesforce from $375.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Canaccord Genuity Group increased their price objective on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Citigroup increased their price objective on Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

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.