IVC Wealth Advisors LLC Sells 525 Shares of Salesforce, Inc. (NYSE:CRM)

IVC Wealth Advisors LLC decreased its holdings in Salesforce, Inc. (NYSE:CRM) by 23.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,741 shares of the CRM provider’s stock after selling 525 shares during the period. IVC Wealth Advisors LLC’s holdings in Salesforce were worth $477,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Trilogy Capital Inc. bought a new stake in shares of Salesforce in the 1st quarter valued at approximately $379,000. LVW Advisors LLC grew its position in Salesforce by 10.0% in the first quarter. LVW Advisors LLC now owns 1,833 shares of the CRM provider’s stock valued at $552,000 after acquiring an additional 166 shares during the period. Congress Wealth Management LLC DE raised its stake in Salesforce by 655.8% during the first quarter. Congress Wealth Management LLC DE now owns 48,608 shares of the CRM provider’s stock worth $14,640,000 after acquiring an additional 42,177 shares in the last quarter. Synergy Asset Management LLC lifted its holdings in shares of Salesforce by 51.1% during the first quarter. Synergy Asset Management LLC now owns 11,115 shares of the CRM provider’s stock valued at $3,348,000 after acquiring an additional 3,757 shares during the period. Finally, Dash Acquisitions Inc. boosted its stake in shares of Salesforce by 1.2% in the 1st quarter. Dash Acquisitions Inc. now owns 50,731 shares of the CRM provider’s stock valued at $14,018,000 after purchasing an additional 608 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. JMP Securities reiterated a “market outperform” rating and set a $342.00 target price on shares of Salesforce in a research report on Wednesday, August 28th. Raymond James lifted their target price on shares of Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 29th. Oppenheimer reissued an “outperform” rating and issued a $330.00 target price (up from $300.00) on shares of Salesforce in a report on Thursday. BNP Paribas raised Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $300.00 target price on shares of Salesforce in a report on Thursday, September 19th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $312.51.

Salesforce Trading Up 1.3 %

Shares of NYSE CRM opened at $290.46 on Monday. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The stock has a market cap of $281.46 billion, a price-to-earnings ratio of 52.24, a P/E/G ratio of 2.61 and a beta of 1.30. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The company’s fifty day moving average is $269.73 and its 200-day moving average is $262.79.

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

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given 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 0.55%. Salesforce’s dividend payout ratio is presently 28.78%.

Insider Buying and Selling

In other Salesforce news, COO Brian Millham sold 969 shares of Salesforce stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $286.56, for a total value of $277,676.64. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the transaction, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Brian Millham sold 969 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $286.56, for a total value of $277,676.64. The disclosure for this sale can be found here. In the last three months, insiders sold 87,781 shares of company stock valued at $23,696,593. 3.20% of the stock is owned by corporate insiders.

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.