SPC Financial Inc. Boosts Position in Salesforce, Inc. (NYSE:CRM)

SPC Financial Inc. grew its position in Salesforce, Inc. (NYSE:CRM) by 59.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,185 shares of the CRM provider’s stock after buying an additional 1,190 shares during the quarter. SPC Financial Inc.’s holdings in Salesforce were worth $1,065,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CRM. Infrastructure Capital Advisors LLC acquired a new position in Salesforce during the third quarter worth about $27,000. Arlington Trust Co LLC increased its stake 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 in the last quarter. Compass Financial Services Inc acquired a new position in shares of Salesforce during the 4th quarter worth approximately $30,000. Asset Planning Inc purchased a new stake in shares of Salesforce in the fourth quarter valued at $31,000. Finally, Collier Financial acquired a new stake in shares of Salesforce during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Down 2.0 %

CRM stock opened at $287.10 on Wednesday. The firm has a market cap of $274.76 billion, a PE ratio of 47.22, a P/E/G ratio of 2.58 and a beta of 1.31. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a 50 day simple moving average of $326.96 and a 200 day simple moving average of $308.33.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the company posted $1.62 EPS. Equities research analysts forecast that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.56%. Salesforce’s dividend payout ratio (DPR) is 25.16%.

Insider Buying and Selling

In related news, insider Parker Harris sold 942 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $339.78, for a total transaction of $320,072.76. Following the transaction, the insider now directly owns 120,333 shares of the company’s stock, valued at approximately $40,886,746.74. The trade was a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director G Mason Morfit sold 722,300 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the completion of the transaction, the director now directly owns 3,192,009 shares in the company, valued at $1,104,786,234.99. This trade represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,108,793 shares of company stock valued at $383,156,227. 3.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CRM shares. Truist Financial reaffirmed a “buy” rating and issued a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. The Goldman Sachs Group upped their price target on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. DA Davidson dropped their price objective on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Citigroup reaffirmed a “cautious” rating on shares of Salesforce in a report on Thursday, February 27th. Finally, Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $365.32.

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.