Salesforce, Inc. (NYSE:CRM) Holdings Raised by Peterson Wealth Management

Peterson Wealth Management boosted its stake in Salesforce, Inc. (NYSE:CRM) by 33.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,603 shares of the CRM provider’s stock after buying an additional 2,158 shares during the quarter. Salesforce makes up about 1.4% of Peterson Wealth Management’s holdings, making the stock its 27th biggest position. Peterson Wealth Management’s holdings in Salesforce were worth $2,212,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ruedi Wealth Management Inc. lifted its position in Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after buying an additional 56 shares in the last quarter. Piscataqua Savings Bank raised its holdings in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. Red Tortoise LLC bought a new position in shares of Salesforce during the 1st quarter valued at $33,000. Stephens Consulting LLC raised its holdings in shares of Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares in the last quarter. Finally, Creekmur Asset Management LLC bought a new position in shares of Salesforce during the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

NYSE:CRM opened at $246.16 on Friday. The firm has a market cap of $238.53 billion, a PE ratio of 44.27, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The company has a quick ratio of 1.11, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $254.78 and its two-hundred day moving average price is $270.11.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.63 earnings per share. On average, equities analysts anticipate that Salesforce, Inc. will post 7.52 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend was Tuesday, July 9th. Salesforce’s dividend payout ratio is presently 28.78%.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft cut their price target on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. UBS Group raised their price target on shares of Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Wells Fargo & Company lifted their target price on shares of Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, August 29th. Mizuho dropped their target price on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Finally, BNP Paribas upgraded shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $304.41.

Insiders Place Their Bets

In other Salesforce news, Director Craig Conway sold 6,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $239.64, for a total value of $1,437,840.00. Following the completion of the transaction, the director now directly owns 6,855 shares of the company’s stock, valued at $1,642,732.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $241.74, for a total transaction of $3,626,100.00. Following the completion of the sale, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at $2,940,152,355.18. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Craig Conway sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $239.64, for a total transaction of $1,437,840.00. Following the sale, the director now directly owns 6,855 shares of the company’s stock, valued at $1,642,732.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 83,692 shares of company stock valued at $21,006,957. 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.