Delta Financial Advisors LLC Raises Holdings in Salesforce, Inc. (NYSE:CRM)

Delta Financial Advisors LLC grew its position in shares of Salesforce, Inc. (NYSE:CRM) by 52.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,906 shares of the CRM provider’s stock after buying an additional 2,035 shares during the period. Delta Financial Advisors LLC’s holdings in Salesforce were worth $1,974,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Nvest Financial LLC lifted its holdings in Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after purchasing an additional 31 shares in the last quarter. OMC Financial Services LTD lifted its holdings in Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after purchasing an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC lifted its holdings in Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after purchasing an additional 31 shares in the last quarter. Sachetta LLC lifted its holdings in Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after purchasing an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC lifted its holdings in Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after purchasing an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CRM shares. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a research note on Friday, December 13th. Macquarie restated a “neutral” rating and issued a $370.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. BMO Capital Markets decreased their target price on Salesforce from $425.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. Robert W. Baird upped their target price on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Truist Financial restated a “buy” rating and issued a $400.00 target price (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $374.47.

Insider Activity at Salesforce

In other Salesforce news, insider Parker Harris sold 942 shares of Salesforce stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $339.78, for a total value of $320,072.76. Following the completion of the sale, the insider now owns 120,333 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this link. Also, insider R David Schmaier sold 1,785 shares of Salesforce stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $344.00, for a total value of $614,040.00. Following the completion of the sale, the insider now directly owns 19,116 shares of the company’s stock, valued at approximately $6,575,904. The trade was a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,102,572 shares of company stock valued at $381,283,706 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Salesforce Trading Down 0.7 %

CRM opened at $306.02 on Wednesday. The stock has a market cap of $292.86 billion, a PE ratio of 50.33, a PEG ratio of 2.58 and a beta of 1.31. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average of $331.46 and a 200-day moving average of $306.97. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

Salesforce (NYSE:CRM) last posted 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). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same period last year, the business earned $1.62 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. Equities research analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

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

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.