Turtle Creek Wealth Advisors LLC Has $368,000 Holdings in Salesforce, Inc. (NYSE:CRM)

Turtle Creek Wealth Advisors LLC raised its position in Salesforce, Inc. (NYSE:CRM) by 20.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,346 shares of the CRM provider’s stock after purchasing an additional 230 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Salesforce were worth $368,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Piscataqua Savings Bank boosted its position in Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. Clear Investment Research LLC boosted its position in shares of Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares in the last quarter. Stephens Consulting LLC grew its stake in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 125 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in Salesforce in the second quarter worth approximately $33,000. Finally, Godsey & Gibb Inc. increased its holdings in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Down 1.9 %

Shares of Salesforce stock traded down $6.39 on Friday, hitting $325.26. The stock had a trading volume of 7,093,003 shares, compared to its average volume of 6,319,677. The stock’s 50-day simple moving average is $286.61 and its two-hundred day simple moving average is $266.64. Salesforce, Inc. has a one year low of $212.00 and a one year high of $348.86. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a market cap of $310.95 billion, a price-to-earnings ratio of 56.57, a PEG ratio of 3.09 and a beta of 1.29.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share 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 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. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 27.83%.

Insider Activity

In other news, COO Brian Millham sold 60,522 shares of Salesforce stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total transaction of $18,156,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Parker Harris sold 3,970 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total value of $1,178,057.80. Following the completion of the sale, the insider now directly owns 119,402 shares in the company, valued at approximately $35,431,349.48. This represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 144,373 shares of company stock worth $41,250,680 in the last quarter. 3.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CRM has been the subject of several recent analyst reports. Northland Capmk raised shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company lifted their price target on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research note on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Wedbush boosted their target price on Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Finally, Citigroup increased their price target on Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $322.51.

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.