Salesforce, Inc. (NYSE:CRM) Shares Acquired by CCM Investment Advisers LLC

CCM Investment Advisers LLC raised its position in Salesforce, Inc. (NYSE:CRM) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,304 shares of the CRM provider’s stock after buying an additional 153 shares during the period. Salesforce accounts for about 2.5% of CCM Investment Advisers LLC’s investment portfolio, making the stock its 10th biggest position. CCM Investment Advisers LLC’s holdings in Salesforce were worth $22,502,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CRM. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce in the 3rd quarter valued at approximately $27,000. Clear Investment Research LLC boosted its position in shares of Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce in the 2nd quarter valued at $33,000. Godsey & Gibb Inc. raised its stake 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 buying an additional 90 shares during the period. Finally, Annapolis Financial Services LLC grew its position in shares of Salesforce by 135.6% in the 3rd 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. 80.43% of the stock is owned by institutional investors.

Salesforce Trading Down 2.8 %

Shares of CRM stock traded down $9.08 during trading hours on Friday, reaching $317.82. The company’s stock had a trading volume of 3,087,125 shares, compared to its average volume of 4,341,328. 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 one year low of $212.00 and a one year high of $369.00. The stock has a market capitalization of $304.15 billion, a P/E ratio of 52.27, a P/E/G ratio of 3.21 and a beta of 1.30. The firm’s fifty day simple moving average is $335.36 and its 200 day simple moving average is $288.53.

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

Salesforce Announces Dividend

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 was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.50%. Salesforce’s payout ratio is 26.32%.

Analysts Set New Price Targets

A number of research firms have weighed in on CRM. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Robert W. Baird increased their price target on shares of Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Needham & Company LLC upped their target price on shares of Salesforce from $375.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday. Barclays lifted their price target on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Piper Sandler restated an “overweight” rating and issued a $405.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $376.05.

Insiders Place Their Bets

In other news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total value of $1,217,454.00. Following the sale, the insider now directly owns 118,514 shares of the company’s stock, valued at $34,353,653.18. The trade was a 3.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider R David Schmaier sold 1,785 shares of Salesforce stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the transaction, the insider now owns 19,116 shares of the company’s stock, valued at $6,575,904. The trade was a 8.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,181,817 shares of company stock worth $404,760,429. 3.20% of the stock is owned by corporate insiders.

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.