Zullo Investment Group Inc. Grows Position in Salesforce, Inc. (NYSE:CRM)

Zullo Investment Group Inc. raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,393 shares of the CRM provider’s stock after buying an additional 43 shares during the period. Zullo Investment Group Inc.’s holdings in Salesforce were worth $800,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Nvest Financial LLC grew its stake in Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after buying an additional 31 shares during the last quarter. OMC Financial Services LTD increased its position in shares of Salesforce by 0.3% during the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after purchasing an additional 31 shares during the period. Sachetta LLC raised its stake in shares of Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after purchasing an additional 32 shares in the last quarter. Prossimo Advisors LLC lifted its holdings in shares of Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after acquiring an additional 32 shares during the period. Finally, Aviance Capital Partners LLC lifted its stake in Salesforce by 0.5% during the third quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock worth $1,860,000 after purchasing an additional 33 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock opened at $324.19 on Thursday. The company has a 50-day simple moving average of $335.02 and a 200 day simple moving average of $304.66. 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 company has a market capitalization of $310.25 billion, a price-to-earnings ratio of 53.32, a PEG ratio of 2.62 and a beta of 1.31. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the previous year, the business posted $1.62 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, sell-side analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued 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 0.49%. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the completion of the transaction, the chief financial officer now directly owns 53,861 shares in the company, valued at approximately $18,474,323. This trade represents a 10.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Brian Millham sold 14,808 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $338.95, for a total value of $5,019,171.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,117,641 shares of company stock valued at $386,408,308. 3.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CRM. Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Robert W. Baird raised their price target on Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Piper Sandler reissued an “overweight” rating and issued a $405.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Needham & Company LLC restated a “buy” rating and set a $400.00 price objective on shares of Salesforce in a report on Thursday, February 6th. Finally, Macquarie reiterated a “neutral” rating and issued a $370.00 target price on shares of Salesforce in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $376.84.

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.