Raymond James Trust N.A. Boosts Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Raymond James Trust N.A. lifted its stake in Salesforce, Inc. (NYSE:CRM) by 3.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 50,667 shares of the CRM provider’s stock after buying an additional 1,473 shares during the period. Raymond James Trust N.A.’s holdings in Salesforce were worth $13,868,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CRM. Aviance Capital Partners LLC raised its position in shares of Salesforce by 0.5% during the third quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock valued at $1,860,000 after buying an additional 33 shares during the last quarter. Umpqua Bank grew its position in shares of Salesforce by 0.4% during the third quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock valued at $2,110,000 after purchasing an additional 34 shares in the last quarter. Nvwm LLC increased its holdings in shares of Salesforce by 1.4% in the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock worth $667,000 after purchasing an additional 36 shares during the last quarter. Prentice Wealth Management LLC lifted its position in shares of Salesforce by 1.5% in the third 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 in the last quarter. Finally, Private Wealth Management Group LLC grew its holdings in Salesforce by 11.6% during the 3rd quarter. Private Wealth Management Group LLC now owns 357 shares of the CRM provider’s stock valued at $98,000 after buying an additional 37 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Price Performance

Shares of CRM stock opened at $336.19 on Friday. The company has a market cap of $321.40 billion, a P/E ratio of 58.47, a PEG ratio of 2.93 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The stock’s 50-day moving average is $292.86 and its 200 day moving average is $268.20. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $348.86.

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

Salesforce Dividend Announcement

The firm 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 of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. Salesforce’s dividend payout ratio is presently 27.83%.

Insider Transactions at Salesforce

In other Salesforce news, COO Brian Millham sold 60,522 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Maynard G. Webb, Jr. sold 9,170 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the transaction, the director now owns 1,363 shares in the company, valued at approximately $376,624.16. This trade represents a 87.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,183 shares of company stock valued at $38,314,066 in the last quarter. 3.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CRM has been the subject of a number of research reports. Cfra set a $343.00 target price on Salesforce in a research report on Thursday, October 17th. Robert W. Baird increased their price objective on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Truist Financial restated a “buy” rating and issued a $315.00 target price (up from $300.00) on shares of Salesforce in a report on Thursday, September 19th. Morgan Stanley increased their price target on shares of Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, Loop Capital boosted their price objective on Salesforce from $270.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $332.11.

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.