Integrated Advisors Network LLC Purchases 190 Shares of Salesforce, Inc. (NYSE:CRM)

Integrated Advisors Network LLC increased its position in Salesforce, Inc. (NYSE:CRM) by 1.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,451 shares of the CRM provider’s stock after acquiring an additional 190 shares during the period. Integrated Advisors Network LLC’s holdings in Salesforce were worth $3,134,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CRM. Valley National Advisers Inc. grew its stake in shares of Salesforce by 13.6% in the first quarter. Valley National Advisers Inc. now owns 2,798 shares of the CRM provider’s stock worth $842,000 after acquiring an additional 335 shares during the period. Wealthstar Advisors LLC boosted its holdings in Salesforce by 6.6% in the first quarter. Wealthstar Advisors LLC now owns 1,192 shares of the CRM provider’s stock worth $359,000 after purchasing an additional 74 shares during the last quarter. First Trust Direct Indexing L.P. grew its position in Salesforce by 9.7% in the 1st quarter. First Trust Direct Indexing L.P. now owns 20,704 shares of the CRM provider’s stock worth $6,236,000 after purchasing an additional 1,836 shares during the period. Accel Wealth Management grew its position in Salesforce by 2.8% in the 1st quarter. Accel Wealth Management now owns 1,857 shares of the CRM provider’s stock worth $559,000 after purchasing an additional 50 shares during the period. Finally, RBA Wealth Management LLC purchased a new stake in Salesforce during the 1st quarter valued at $207,000. 80.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company raised their price target on Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 29th. Northland Capmk raised shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus raised their price objective on shares of Salesforce from $320.00 to $350.00 and gave the stock a “buy” rating in a report on Monday. UBS Group upped their target price on shares of Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, JMP Securities reiterated a “market outperform” rating and set a $342.00 price target on shares of Salesforce in a research note on Wednesday, August 28th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $313.37.

Insider Activity

In related news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total value of $1,217,454.00. Following the completion of the sale, the insider now directly owns 118,514 shares in the company, valued at $34,353,653.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Salesforce news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $289.87, for a total value of $1,217,454.00. Following the completion of the sale, the insider now owns 118,514 shares of the company’s stock, valued at $34,353,653.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,581 shares of company stock valued at $22,616,017. 3.20% of the stock is currently owned by insiders.

Salesforce Stock Performance

NYSE:CRM opened at $298.93 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $285.78 billion, a price-to-earnings ratio of 51.99, a PEG ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a 1 year low of $197.08 and a 1 year high of $318.71. The stock’s 50 day simple moving average is $271.04 and its two-hundred day simple moving average is $262.78.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping 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 company had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the business posted $1.63 earnings per share. Salesforce’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, equities analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 27.83%.

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.