Captrust Financial Advisors Has $14.25 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Captrust Financial Advisors grew its position in shares of Salesforce, Inc. (NYSE:CRM) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,069 shares of the CRM provider’s stock after acquiring an additional 582 shares during the quarter. Captrust Financial Advisors’ holdings in Salesforce were worth $14,252,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Atlantic Union Bankshares Corp grew its position in Salesforce by 20.7% in the third quarter. Atlantic Union Bankshares Corp now owns 26,635 shares of the CRM provider’s stock valued at $7,290,000 after purchasing an additional 4,564 shares in the last quarter. Infrastructure Capital Advisors LLC acquired a new position in shares of Salesforce during the 3rd quarter worth about $27,000. Northwest & Ethical Investments L.P. grew its holdings in shares of Salesforce by 89.4% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 1,710 shares of the CRM provider’s stock valued at $468,000 after acquiring an additional 807 shares in the last quarter. Elite Wealth Management Inc. increased its position in shares of Salesforce by 1.1% in the third quarter. Elite Wealth Management Inc. now owns 19,368 shares of the CRM provider’s stock valued at $5,301,000 after acquiring an additional 211 shares during the last quarter. Finally, Financial Counselors Inc. raised its holdings in Salesforce by 2.9% during the third quarter. Financial Counselors Inc. now owns 169,323 shares of the CRM provider’s stock worth $46,345,000 after acquiring an additional 4,817 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Brian Millham sold 60,522 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00. The disclosure for this sale can be found here. Insiders have sold 144,510 shares of company stock valued at $42,475,538 over the last ninety days. 3.20% of the stock is owned by corporate insiders.

Salesforce Price Performance

Shares of NYSE:CRM opened at $329.99 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $315.47 billion, a PE ratio of 57.39, a PEG ratio of 2.99 and a beta of 1.29. The firm has a 50 day moving average of $302.12 and a 200-day moving average of $270.61. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $348.86.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the previous year, the business earned $1.63 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. On average, equities research analysts predict that Salesforce, Inc. will post 7.54 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CRM. JPMorgan Chase & Co. raised their price target on Salesforce from $310.00 to $340.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Northland Securities upgraded shares of Salesforce from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $270.00 to $400.00 in a report on Wednesday, October 2nd. Evercore ISI reiterated an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a research note on Monday, August 26th. Piper Sandler downgraded shares of Salesforce from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, JMP Securities boosted their price target on Salesforce from $342.00 to $450.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. Eight analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $341.89.

Salesforce 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.