McGlone Suttner Wealth Management Inc. Buys 545 Shares of Salesforce, Inc. (NYSE:CRM)

McGlone Suttner Wealth Management Inc. increased its stake in Salesforce, Inc. (NYSE:CRM) by 24.0% in the fourth quarter, HoldingsChannel reports. The fund owned 2,816 shares of the CRM provider’s stock after purchasing an additional 545 shares during the period. McGlone Suttner Wealth Management Inc.’s holdings in Salesforce were worth $941,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its position in Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after buying an additional 864,193 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Salesforce by 1.3% during the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after purchasing an additional 257,501 shares during the period. Fisher Asset Management LLC grew its stake in shares of Salesforce by 2.6% in the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock worth $3,360,215,000 after purchasing an additional 314,530 shares during the last quarter. Legal & General Group Plc raised its position in Salesforce by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock valued at $2,141,562,000 after purchasing an additional 176,641 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Salesforce by 1.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock worth $1,632,599,000 after buying an additional 57,825 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Stifel Nicolaus upped their price objective on shares of Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Northland Securities reaffirmed an “outperform” rating and set a $440.00 target price (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. JPMorgan Chase & Co. boosted their price target on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, Citigroup lifted their price objective on Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Insider Activity

In other Salesforce news, Director G Mason Morfit sold 722,300 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the completion of the sale, the director now owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. This represents a 18.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $298.04, for a total value of $1,251,768.00. Following the sale, the insider now directly owns 119,402 shares in the company, valued at approximately $35,586,572.08. This represents a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,173,891 shares of company stock valued at $402,840,388 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Salesforce Trading Up 0.6 %

Shares of NYSE:CRM opened at $334.75 on Friday. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock has a market capitalization of $320.36 billion, a price-to-earnings ratio of 55.06, a PEG ratio of 3.01 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock’s 50-day simple moving average is $336.50 and its two-hundred day simple moving average is $293.20.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.62 EPS. Analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is currently 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.