Advisor OS LLC Raises Stock Position in Salesforce, Inc. (NYSE:CRM)

Advisor OS LLC increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 47.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,266 shares of the CRM provider’s stock after purchasing an additional 734 shares during the period. Advisor OS LLC’s holdings in Salesforce were worth $758,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Kirtland Hills Capital Management LLC boosted its position in shares of Salesforce by 16.6% in the fourth quarter. Kirtland Hills Capital Management LLC now owns 4,993 shares of the CRM provider’s stock worth $1,669,000 after buying an additional 710 shares during the period. Bradley & Co. Private Wealth Management LLC acquired a new position in Salesforce during the 4th quarter worth approximately $170,000. Cavalier Investments LLC boosted its holdings in Salesforce by 4.1% in the 4th quarter. Cavalier Investments LLC now owns 17,019 shares of the CRM provider’s stock worth $5,690,000 after acquiring an additional 672 shares during the period. FFT Wealth Management LLC boosted its holdings in Salesforce by 7.6% in the 4th quarter. FFT Wealth Management LLC now owns 2,018 shares of the CRM provider’s stock worth $675,000 after acquiring an additional 143 shares during the period. Finally, Delta Financial Advisors LLC grew its position in Salesforce by 52.6% in the fourth quarter. Delta Financial Advisors LLC now owns 5,906 shares of the CRM provider’s stock valued at $1,974,000 after acquiring an additional 2,035 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Up 0.4 %

Shares of Salesforce stock opened at $307.19 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The business’s fifty day moving average price is $330.86 and its two-hundred day moving average price is $306.97. The company has a market capitalization of $293.98 billion, a P/E ratio of 50.53, a PEG ratio of 2.58 and a beta of 1.31.

Salesforce (NYSE:CRM) last issued 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). The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.62 earnings per share. As a group, research analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Analyst Upgrades and Downgrades

CRM has been the subject of several analyst reports. Wells Fargo & Company upped their target price on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 12th. Macquarie reissued a “neutral” rating and issued a $370.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. UBS Group raised their target price on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and boosted their price target for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. Finally, JMP Securities restated a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $374.47.

Insider Activity at Salesforce

In other news, insider Parker Harris sold 942 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $339.78, for a total transaction of $320,072.76. Following the completion of the transaction, the insider now owns 120,333 shares in the company, valued at approximately $40,886,746.74. This trade represents a 0.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Miguel Milano sold 458 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the sale, the insider now owns 5,864 shares in the company, valued at $1,805,936.08. The trade was a 7.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,102,572 shares of company stock worth $381,283,706 over the last quarter. 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.