Sax Wealth Advisors LLC Increases Stake in Salesforce, Inc. (NYSE:CRM)

Sax Wealth Advisors LLC raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 77.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,364 shares of the CRM provider’s stock after purchasing an additional 1,465 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Salesforce were worth $1,125,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CRM. Nabity Jensen Investment Management Inc purchased a new stake in Salesforce during the 3rd quarter worth about $1,215,000. Prime Capital Investment Advisors LLC increased its position in shares of Salesforce by 13.6% during the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after buying an additional 6,938 shares during the period. Aljian Capital Management LLC lifted its holdings in shares of Salesforce by 16.1% in the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after buying an additional 1,834 shares in the last quarter. AIA Group Ltd boosted its position in shares of Salesforce by 8.9% in the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after acquiring an additional 1,962 shares during the period. Finally, Geode Capital Management LLC grew its stake in Salesforce by 1.3% during the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after acquiring an additional 257,501 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on CRM shares. Piper Sandler reissued an “overweight” rating and issued a $405.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Northland Securities reiterated an “outperform” rating and set a $440.00 price target (up previously from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Scotiabank upped their price objective on shares of Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group lifted their target price on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, UBS Group boosted their price target on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Insiders Place Their Bets

In other news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the sale, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. This represents a 11.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $288.82, for a total value of $1,213,044.00. Following the completion of the transaction, the insider now directly owns 118,514 shares of the company’s stock, valued at approximately $34,229,213.48. This represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,183,838 shares of company stock worth $405,595,158. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Up 1.5 %

Shares of Salesforce stock opened at $324.77 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a market cap of $310.81 billion, a P/E ratio of 53.42, a PEG ratio of 2.87 and a beta of 1.30. The company’s fifty day simple moving average is $337.25 and its two-hundred day simple moving average is $291.08.

Salesforce (NYSE:CRM) last released its quarterly 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). The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.62 earnings per share. Research analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.49%. Salesforce’s payout ratio is 26.32%.

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.