Turtle Creek Wealth Advisors LLC Buys 230 Shares of Salesforce, Inc. (NYSE:CRM)

Turtle Creek Wealth Advisors LLC boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 20.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,346 shares of the CRM provider’s stock after purchasing an additional 230 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Salesforce were worth $368,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Piscataqua Savings Bank grew its holdings in shares of Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 96 shares during the period. Clear Investment Research LLC boosted its position in Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the last quarter. Godsey & Gibb Inc. grew 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 valued at $33,000 after purchasing an additional 90 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Salesforce during the 2nd quarter valued at about $33,000. Finally, Stephens Consulting LLC lifted its stake in shares of Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 125 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Down 1.9 %

Shares of NYSE:CRM traded down $6.39 during trading on Friday, hitting $325.26. The company’s stock had a trading volume of 7,093,003 shares, compared to its average volume of 6,319,677. The company has a market capitalization of $310.95 billion, a PE ratio of 56.57, a P/E/G ratio of 3.09 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $348.86. The business has a 50 day moving average price of $286.61 and a two-hundred day moving average price of $266.64.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.20. The company had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. Salesforce’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.63 EPS. As a group, research analysts expect 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. Investors of record on Wednesday, September 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. Salesforce’s payout ratio is currently 27.83%.

Insider Activity at Salesforce

In related news, COO Brian Millham sold 60,522 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sabastian Niles sold 2,484 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total transaction of $608,108.04. Following the completion of the sale, the insider now directly owns 828 shares of the company’s stock, valued at approximately $202,702.68. This trade represents a 75.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 144,373 shares of company stock valued at $41,250,680 over the last quarter. 3.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on CRM. Citigroup upped their target price on shares of Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Bank of America raised their target price on Salesforce from $325.00 to $390.00 and gave the stock a “buy” rating in a report on Wednesday. DA Davidson boosted their price target on Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Northland Capmk raised Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Erste Group Bank reiterated a “hold” rating on shares of Salesforce in a research note on Wednesday, September 11th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $322.51.

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.