DT Investment Partners LLC Buys 45 Shares of Salesforce, Inc. (NYSE:CRM)

DT Investment Partners LLC raised its stake in Salesforce, Inc. (NYSE:CRM) by 5.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 852 shares of the CRM provider’s stock after acquiring an additional 45 shares during the period. DT Investment Partners LLC’s holdings in Salesforce were worth $285,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. RBA Wealth Management LLC raised its holdings in shares of Salesforce by 3.7% in the third quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock valued at $4,426,000 after purchasing an additional 574 shares during the last quarter. Creative Planning raised its holdings in shares of Salesforce by 8.0% in the third quarter. Creative Planning now owns 233,743 shares of the CRM provider’s stock valued at $63,978,000 after purchasing an additional 17,350 shares during the last quarter. Wolff Wiese Magana LLC raised its holdings in shares of Salesforce by 1.3% in the third quarter. Wolff Wiese Magana LLC now owns 3,235 shares of the CRM provider’s stock valued at $885,000 after purchasing an additional 42 shares during the last quarter. AAFMAA Wealth Management & Trust LLC raised its holdings in shares of Salesforce by 2.3% in the third quarter. AAFMAA Wealth Management & Trust LLC now owns 8,119 shares of the CRM provider’s stock valued at $2,222,000 after purchasing an additional 186 shares during the last quarter. Finally, Alliance Wealth Advisors LLC raised its holdings in shares of Salesforce by 9.5% in the third quarter. Alliance Wealth Advisors LLC now owns 1,927 shares of the CRM provider’s stock valued at $527,000 after purchasing an additional 167 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Activity

In related news, COO Brian Millham sold 14,808 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $338.95, for a total transaction of $5,019,171.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,111,420 shares of company stock valued at $384,366,700. 3.20% of the stock is owned by company insiders.

Salesforce Trading Up 1.2 %

Shares of Salesforce stock opened at $330.19 on Friday. The firm has a 50-day moving average of $337.91 and a 200-day moving average of $302.13. The stock has a market cap of $315.99 billion, a PE ratio of 54.31, a PEG ratio of 2.66 and a beta of 1.31. 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.

Salesforce (NYSE:CRM) last announced 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). The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.62 EPS. As a group, sell-side analysts forecast that Salesforce, Inc. will post 7.48 EPS 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 given 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 payout ratio is presently 26.32%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Wells Fargo & Company lifted their price objective on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a report on Tuesday, November 12th. Jefferies Financial Group lifted their price objective on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Barclays lifted their price objective on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Bank of America boosted their target price on shares of Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $377.63.

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.