McGlone Suttner Wealth Management Inc. Lowers Stock Holdings in Salesforce, Inc. (NYSE:CRM)

McGlone Suttner Wealth Management Inc. decreased its position in shares of Salesforce, Inc. (NYSE:CRM) by 14.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,271 shares of the CRM provider’s stock after selling 374 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in Salesforce were worth $622,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Ruedi Wealth Management Inc. lifted its stake in Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares in the last quarter. Piscataqua Savings Bank lifted its stake in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. Red Tortoise LLC purchased a new stake in Salesforce in the 1st quarter worth $33,000. Clear Investment Research LLC lifted its stake in Salesforce by 816.7% in the 2nd 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. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Salesforce in the 2nd quarter worth $33,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the sale, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at $1,644,921.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the transaction, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at $1,644,921.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $254.90, for a total value of $1,070,580.00. Following the transaction, the insider now directly owns 116,693 shares of the company’s stock, valued at $29,745,045.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 80,612 shares of company stock worth $21,283,087. 3.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Evercore ISI reiterated an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a research note on Monday, August 26th. TD Cowen boosted their target price on shares of Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. JMP Securities restated a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a report on Wednesday, August 28th. Wells Fargo & Company upped their price target on shares of Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, August 29th. Finally, Canaccord Genuity Group upped their price target on shares of Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $310.74.

Salesforce Trading Down 0.7 %

Salesforce stock traded down $2.07 during midday trading on Friday, hitting $288.10. 3,597,035 shares of the stock were exchanged, compared to its average volume of 6,491,262. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The stock has a market capitalization of $275.42 billion, a price-to-earnings ratio of 50.10, a PEG ratio of 2.61 and a beta of 1.30. The stock’s 50-day simple moving average is $261.93 and its 200 day simple moving average is $263.88. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period last year, the business earned $1.63 earnings per share. Salesforce’s revenue was up 8.5% compared to the same quarter last year. On average, equities analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.56%. Salesforce’s dividend payout ratio is currently 27.83%.

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.