Broadway Wealth Solutions Inc. Takes $407,000 Position in Salesforce, Inc. (NYSE:CRM)

Broadway Wealth Solutions Inc. acquired a new position in Salesforce, Inc. (NYSE:CRM) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 1,217 shares of the CRM provider’s stock, valued at approximately $407,000.

A number of other institutional investors have also recently bought and sold shares of CRM. Nvest Financial LLC increased its stake in shares of Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after acquiring an additional 31 shares during the last quarter. OMC Financial Services LTD raised its stake in shares of Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after purchasing an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC lifted its holdings in shares of Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after buying an additional 31 shares during the last quarter. Sachetta LLC grew its stake in shares of Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after buying an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC increased its holdings in Salesforce by 1.0% in the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after buying an additional 32 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at $15,705,195. This represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,660 shares of company stock valued at $14,095,336 in the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Trading Down 1.1 %

CRM stock opened at $277.88 on Friday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The stock has a market cap of $267.04 billion, a price-to-earnings ratio of 45.70, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company has a fifty day moving average price of $310.49 and a two-hundred day moving average price of $310.51. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be paid a $0.42 dividend. This is an increase from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.60%. Salesforce’s payout ratio is 25.16%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Canaccord Genuity Group dropped their price target on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Wells Fargo & Company reduced their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Macquarie reissued a “neutral” rating and issued a $320.00 price objective on shares of Salesforce in a research note on Thursday, March 20th. Truist Financial reissued a “buy” rating and issued a $400.00 price target (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, Northland Securities restated an “outperform” rating and set a $440.00 target price (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $362.74.

About Salesforce

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.