Salesforce, Inc. (NYSE:CRM) Stake Increased by Jamison Private Wealth Management Inc.

Jamison Private Wealth Management Inc. grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 12.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 7,741 shares of the CRM provider’s stock after purchasing an additional 837 shares during the quarter. Jamison Private Wealth Management Inc.’s holdings in Salesforce were worth $2,588,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CRM. Veritas Asset Management LLP acquired a new position in Salesforce in the third quarter worth about $733,805,000. KBC Group NV lifted its holdings in Salesforce by 171.2% during the 3rd quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock worth $447,470,000 after buying an additional 1,032,068 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Salesforce by 23,664.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock worth $274,490,000 after acquiring an additional 998,628 shares in the last quarter. State Street Corp increased its holdings in shares of Salesforce by 1.8% in the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after acquiring an additional 864,193 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Salesforce by 95.7% during the 3rd quarter. Van ECK Associates Corp now owns 1,624,520 shares of the CRM provider’s stock valued at $462,063,000 after acquiring an additional 794,506 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Down 0.4 %

Shares of NYSE:CRM opened at $333.47 on Friday. The firm has a 50 day simple moving average of $336.73 and a 200 day simple moving average of $294.01. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $319.13 billion, a PE ratio of 54.85, a price-to-earnings-growth ratio of 3.01 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) 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 business had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the previous year, the company earned $1.62 EPS. Salesforce’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, research analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. Salesforce’s dividend payout ratio is 26.32%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CRM. Wedbush reiterated an “outperform” rating and set a $425.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Canaccord Genuity Group raised their target price on shares of Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Piper Sandler reaffirmed an “overweight” rating and set a $405.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Barclays raised their price target on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Cfra set a $343.00 price objective on Salesforce in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $377.63.

Insider Transactions at Salesforce

In other news, insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $344.00, for a total transaction 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 $6,575,904. This trade represents a 8.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $290.23, for a total value of $145,115.00. Following the completion of the transaction, the chief accounting officer now owns 6,506 shares in the company, valued at $1,888,236.38. This represents a 7.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,173,891 shares of company stock valued at $402,840,388 over the last three months. 3.20% of the stock is owned by corporate insiders.

About Salesforce

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.