Phillips Wealth Planners LLC Buys 328 Shares of Salesforce, Inc. (NYSE:CRM)

Phillips Wealth Planners LLC lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 21.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,886 shares of the CRM provider’s stock after purchasing an additional 328 shares during the period. Phillips Wealth Planners LLC’s holdings in Salesforce were worth $549,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CRM. Prentice Wealth Management LLC increased its holdings in shares of Salesforce by 1.5% in the 3rd quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock worth $686,000 after buying an additional 37 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its stake in Salesforce by 0.8% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after acquiring an additional 38 shares in the last quarter. Fulton Bank N.A. grew its stake in Salesforce by 0.4% in the 3rd quarter. Fulton Bank N.A. now owns 9,269 shares of the CRM provider’s stock worth $2,537,000 after acquiring an additional 38 shares in the last quarter. CRA Financial Services LLC boosted its stake in shares of Salesforce by 3.4% during the third quarter. CRA Financial Services LLC now owns 1,160 shares of the CRM provider’s stock valued at $318,000 after purchasing an additional 38 shares in the last quarter. Finally, Boomfish Wealth Group LLC boosted its stake in shares of Salesforce by 0.4% during the third quarter. Boomfish Wealth Group LLC now owns 9,312 shares of the CRM provider’s stock valued at $2,549,000 after purchasing an additional 38 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CRM. Oppenheimer reiterated an “outperform” rating and set a $330.00 price objective (up from $300.00) on shares of Salesforce in a research note on Thursday, October 24th. BMO Capital Markets raised their price target on shares of Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Bank of America reaffirmed a “buy” rating and issued a $325.00 price target on shares of Salesforce in a report on Friday, September 6th. Canaccord Genuity Group raised their price target on shares of Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Needham & Company LLC reissued a “buy” rating and set a $345.00 target price on shares of Salesforce in a report on Friday, September 20th. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $313.37.

Insiders Place Their Bets

In other Salesforce news, insider Parker Harris sold 2,800 shares of Salesforce stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total transaction of $675,416.00. Following the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at $28,362,888.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Parker Harris sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total value of $675,416.00. Following the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $28,362,888.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total transaction of $18,156,600.00. The disclosure for this sale can be found here. Insiders have sold 148,303 shares of company stock valued at $42,024,385 over the last ninety days. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Up 1.1 %

Shares of NYSE CRM opened at $294.72 on Friday. The company’s 50-day simple moving average is $273.02 and its 200-day simple moving average is $263.37. Salesforce, Inc. has a 52-week low of $204.69 and a 52-week high of $318.71. The firm has a market cap of $281.75 billion, a price-to-earnings ratio of 51.26, a price-to-earnings-growth ratio of 2.68 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.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $9.22 billion. During the same period in the previous year, the business posted $1.63 earnings per share. Salesforce’s quarterly revenue was up 8.5% on a year-over-year basis. Equities analysts predict that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

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.