KMG Fiduciary Partners LLC Increases Stake in Salesforce, Inc. (NYSE:CRM)

KMG Fiduciary Partners LLC boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,648 shares of the CRM provider’s stock after purchasing an additional 549 shares during the period. KMG Fiduciary Partners LLC’s holdings in Salesforce were worth $8,240,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Infrastructure Capital Advisors LLC acquired a new position in shares of Salesforce in the 3rd quarter valued at $27,000. Godsey & Gibb Inc. lifted its position in 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 acquiring an additional 90 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in Salesforce during the 2nd quarter valued at about $33,000. Annapolis Financial Services LLC increased its holdings in shares of Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after purchasing an additional 80 shares during the period. Finally, Friedenthal Financial purchased a new position in shares of Salesforce in the fourth quarter worth about $55,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated 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 in the company, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,183,838 shares of company stock worth $405,595,158. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Loop Capital upped their target price on Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. 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 research note on Wednesday, December 4th. Northland Capmk upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. BMO Capital Markets boosted their target price on shares of Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Stifel Nicolaus upped their price target on shares of Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $376.05.

Salesforce Price Performance

Shares of NYSE:CRM opened at $320.99 on Friday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The firm has a market capitalization of $307.18 billion, a P/E ratio of 52.79, a PEG ratio of 2.87 and a beta of 1.30. The firm’s 50 day moving average is $337.05 and its two-hundred day moving average is $290.87. 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 (NYSE:CRM) last announced its 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 company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.62 earnings per share. Analysts anticipate 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. Shareholders of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is 26.32%.

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.