Capital Asset Advisory Services LLC Grows Holdings in Salesforce, Inc. (NYSE:CRM)

Capital Asset Advisory Services LLC boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 7.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,023 shares of the CRM provider’s stock after purchasing an additional 70 shares during the period. Capital Asset Advisory Services LLC’s holdings in Salesforce were worth $341,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Sachetta LLC increased its position in Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after acquiring an additional 32 shares during the period. Aviance Capital Partners LLC increased its holdings in shares of Salesforce by 0.5% in the third quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock valued at $1,860,000 after purchasing an additional 33 shares during the period. EWA LLC raised its stake in shares of Salesforce by 1.7% during the third quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock worth $548,000 after purchasing an additional 33 shares during the last quarter. Umpqua Bank lifted its holdings in shares of Salesforce by 0.4% during the third quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after purchasing an additional 34 shares during the period. Finally, Principal Street Partners LLC grew its position in Salesforce by 1.0% in the 3rd quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock valued at $891,000 after buying an additional 34 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on CRM. Cfra set a $343.00 target price on shares of Salesforce in a research note on Thursday, October 17th. Piper Sandler reaffirmed an “overweight” rating and issued a $405.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Oppenheimer reissued an “outperform” rating and issued a $415.00 price target (up from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. JMP Securities reaffirmed a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Finally, Royal Bank of Canada raised their target price on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $377.63.

Salesforce Stock Performance

NYSE CRM opened at $347.26 on Tuesday. The business’s 50-day moving average price is $336.73 and its 200 day moving average price is $294.60. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a market capitalization of $332.33 billion, a PE ratio of 57.12, a price-to-earnings-growth ratio of 3.01 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the previous year, the company earned $1.62 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. On average, research analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. 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 0.46%. Salesforce’s payout ratio is 26.32%.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 652 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $216,646.56. Following the transaction, the insider now directly owns 121,467 shares of the company’s stock, valued at $40,361,054.76. This trade represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $290.23, for a total value of $145,115.00. Following the transaction, the chief accounting officer now directly owns 6,506 shares in the company, valued at $1,888,236.38. This trade represents a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,109,169 shares of company stock valued at $383,432,020. 3.20% of the stock is currently owned by company insiders.

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.