Harbor Advisory Corp MA Invests $224,000 in Salesforce, Inc. (NYSE:CRM)

Harbor Advisory Corp MA purchased a new position in shares of Salesforce, Inc. (NYSE:CRM) in the fourth quarter, HoldingsChannel reports. The firm purchased 671 shares of the CRM provider’s stock, valued at approximately $224,000.

Other hedge funds have also modified their holdings of the company. Arlington Trust Co LLC grew its holdings in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc purchased a new position in shares of Salesforce during the 4th quarter worth $30,000. Collier Financial purchased a new position in shares of Salesforce during the 4th quarter worth $32,000. Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce during the 3rd quarter worth $27,000. Finally, Godsey & Gibb Inc. grew its holdings in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Price Performance

Shares of NYSE CRM opened at $324.50 on Wednesday. The firm has a market capitalization of $310.55 billion, a PE ratio of 53.37, a price-to-earnings-growth ratio of 2.66 and a beta of 1.31. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The stock’s 50-day simple moving average is $338.89 and its 200-day simple moving average is $301.53. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the firm earned $1.62 EPS. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

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

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 45,861 shares in the company, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $167,970.00. Following the completion of the transaction, the chief accounting officer now owns 6,557 shares in the company, valued at $2,202,758.58. This trade represents a 7.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,111,420 shares of company stock valued at $384,366,700 over the last quarter. Company insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

CRM has been the subject of a number of research analyst reports. Canaccord Genuity Group increased their price target on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Wedbush restated an “outperform” rating and set a $425.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Morgan Stanley raised their target price on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Bank of America raised their target price on Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

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.