United Advisor Group LLC Raises Holdings in Salesforce, Inc. (NYSE:CRM)

United Advisor Group LLC boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 95.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,715 shares of the CRM provider’s stock after buying an additional 838 shares during the period. United Advisor Group LLC’s holdings in Salesforce were worth $469,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ruedi Wealth Management Inc. boosted its position in Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 56 shares in the last quarter. Piscataqua Savings Bank boosted its holdings in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after buying an additional 96 shares in the last quarter. Clear Investment Research LLC boosted its holdings in shares of Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after buying an additional 98 shares in the last quarter. Godsey & Gibb Inc. raised its stake in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 90 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Salesforce during the second quarter valued at approximately $33,000. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, August 29th. Erste Group Bank reaffirmed a “hold” rating on shares of Salesforce in a research report on Wednesday, September 11th. Bank of America reissued a “buy” rating and issued a $325.00 price target on shares of Salesforce in a report on Friday, September 6th. Canaccord Genuity Group boosted their price target on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, UBS Group raised their target price on Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $313.37.

Salesforce Price Performance

Salesforce stock opened at $297.53 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $284.44 billion, a price-to-earnings ratio of 51.74, a price-to-earnings-growth ratio of 2.67 and a beta of 1.29. The company’s 50 day simple moving average is $274.34 and its 200-day simple moving average is $263.56. Salesforce, Inc. has a 1 year low of $204.69 and a 1 year high of $318.71.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the business posted $1.63 earnings per share. As a group, equities research analysts expect that Salesforce, Inc. will post 7.55 earnings per share 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 issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is currently 27.83%.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 1,400 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $251.62, for a total value of $352,268.00. Following the completion of the transaction, the insider now owns 117,581 shares in the company, valued at $29,585,731.22. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the sale, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Parker Harris sold 1,400 shares of Salesforce stock in a transaction on Friday, August 9th. The stock was sold at an average price of $251.62, for a total transaction of $352,268.00. Following the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $29,585,731.22. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 146,003 shares of company stock valued at $41,494,084 in the last ninety days. Company insiders own 3.20% of the company’s stock.

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.