Axxcess Wealth Management LLC Buys 747 Shares of Salesforce, Inc. (NYSE:CRM)

Axxcess Wealth Management LLC increased its position in Salesforce, Inc. (NYSE:CRM) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,493 shares of the CRM provider’s stock after purchasing an additional 747 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Salesforce were worth $3,024,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Bear Mountain Capital Inc. bought a new stake in shares of Salesforce in the fourth quarter valued at about $26,000. Signature Resources Capital Management LLC bought a new stake in shares of Salesforce in the 4th quarter valued at about $26,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Salesforce in the 4th quarter worth approximately $31,000. Pacifica Partners Inc. boosted its stake in shares of Salesforce by 333.3% during the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. Finally, BKM Wealth Management LLC purchased a new position in Salesforce during the fourth quarter valued at approximately $34,000. 80.43% of the stock is owned by institutional investors.

Insider Activity

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $269.53, for a total transaction of $4,042,950.00. Following the completion of the sale, the chief executive officer now directly owns 12,707,327 shares of the company’s stock, valued at approximately $3,425,005,846.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $270.93, for a total transaction of $1,137,906.00. Following the sale, the insider now owns 115,762 shares of the company’s stock, valued at approximately $31,363,398.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $269.53, for a total value of $4,042,950.00. Following the completion of the transaction, the chief executive officer now directly owns 12,707,327 shares of the company’s stock, valued at $3,425,005,846.31. The disclosure for this sale can be found here. Insiders have sold 629,993 shares of company stock valued at $184,255,474 in the last ninety days. 3.70% of the stock is currently owned by company insiders.

Salesforce Stock Up 0.6 %

Shares of CRM stock traded up $1.53 on Friday, reaching $273.66. 4,041,636 shares of the stock were exchanged, compared to its average volume of 5,219,539. The company has a market capitalization of $264.90 billion, a price-to-earnings ratio of 65.16, a PEG ratio of 2.10 and a beta of 1.30. The business’s 50 day moving average price is $294.23 and its 200 day moving average price is $266.17. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $190.76 and a twelve month high of $318.71.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter last year, the company earned $1.01 EPS. The business’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, sell-side analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.58%. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Analyst Ratings Changes

CRM has been the topic of several recent research reports. StockNews.com cut Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. Needham & Company LLC reissued a “buy” rating and set a $345.00 target price on shares of Salesforce in a research report on Monday, April 15th. JMP Securities restated a “market outperform” rating and set a $342.00 target price on shares of Salesforce in a research note on Monday, April 15th. Jefferies Financial Group increased their price target on Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Finally, Argus upped their price objective on shares of Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.61.

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.