CFM Wealth Partners LLC Lowers Stake in Salesforce, Inc. (NYSE:CRM)

CFM Wealth Partners LLC lessened its holdings in Salesforce, Inc. (NYSE:CRM) by 0.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 42,478 shares of the CRM provider’s stock after selling 65 shares during the period. Salesforce comprises approximately 2.6% of CFM Wealth Partners LLC’s holdings, making the stock its 6th biggest position. CFM Wealth Partners LLC’s holdings in Salesforce were worth $12,794,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CRM. Ruedi Wealth Management Inc. raised its stake in Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 56 shares during the period. Piscataqua Savings Bank raised its stake in Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 96 shares during the period. Clear Investment Research LLC raised its stake in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares during the period. Red Tortoise LLC bought a new stake in Salesforce during the 1st quarter worth approximately $33,000. Finally, Stephens Consulting LLC raised its stake in Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 125 shares during the period. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on CRM. DA Davidson raised their target price on shares of Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Northland Securities raised shares of Salesforce from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $270.00 to $400.00 in a report on Wednesday, October 2nd. Raymond James increased their price objective on shares of Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. BNP Paribas raised shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Finally, BMO Capital Markets raised their target price on shares of Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $310.74.

Insider Activity

In related news, insider R David Schmaier sold 1,155 shares of the 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 $295,425.90. Following the transaction, the insider now owns 20,556 shares in the company, valued at approximately $5,257,813.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider R David Schmaier sold 1,155 shares of the 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 $295,425.90. Following the transaction, the insider now owns 20,556 shares in the company, valued at approximately $5,257,813.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amy E. Weaver sold 897 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $229,434.66. Following the completion of the transaction, the chief financial officer now owns 51,109 shares in the company, valued at approximately $13,072,660.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,412 shares of company stock worth $20,212,507 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Stock Performance

CRM stock opened at $288.31 on Wednesday. The firm has a market cap of $279.37 billion, a price-to-earnings ratio of 51.85, a PEG ratio of 2.61 and a beta of 1.30. The firm has a 50-day simple moving average of $263.98 and a two-hundred day simple moving average of $263.46. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the prior year, the company posted $1.63 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, equities analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

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 dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.55%. Salesforce’s dividend payout ratio (DPR) is currently 28.78%.

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.