Roffman Miller Associates Inc. PA Raises Stock Position in Salesforce, Inc. (NYSE:CRM)

Roffman Miller Associates Inc. PA increased its stake in Salesforce, Inc. (NYSE:CRM) by 56.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 59,651 shares of the CRM provider’s stock after acquiring an additional 21,566 shares during the quarter. Roffman Miller Associates Inc. PA’s holdings in Salesforce were worth $19,943,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRM. State Street Corp grew its holdings in shares of Salesforce by 1.8% during the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after buying an additional 864,193 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Salesforce by 1.3% during the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after buying an additional 257,501 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Salesforce by 2.6% during the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock worth $3,360,215,000 after buying an additional 314,530 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Salesforce by 1.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock worth $1,632,599,000 after buying an additional 57,825 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Salesforce by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider’s stock worth $1,618,407,000 after buying an additional 96,381 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CRM. Citigroup upped their target price on shares of Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. BMO Capital Markets lowered their price target on shares of Salesforce from $425.00 to $375.00 and set an “outperform” rating on the stock in a research report on Friday. Wells Fargo & Company boosted their price target on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 12th. Piper Sandler set a $405.00 price target on shares of Salesforce in a research report on Tuesday, January 21st. Finally, JMP Securities reissued a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $375.53.

Salesforce Stock Down 2.8 %

CRM stock opened at $309.54 on Monday. The firm has a market capitalization of $296.23 billion, a price-to-earnings ratio of 50.91, a PEG ratio of 2.58 and a beta of 1.31. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company’s 50 day moving average price is $333.34 and its 200 day moving average price is $306.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.62 earnings per share. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. Salesforce’s payout ratio is currently 26.32%.

Insiders Place Their Bets

In other Salesforce news, Director G Mason Morfit sold 722,300 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the sale, the director now directly owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. The trade was a 18.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc Benioff sold 317,105 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the sale, the chief executive officer now owns 12,162,457 shares in the company, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,102,114 shares of company stock worth $381,142,656. Corporate insiders own 3.20% of the company’s stock.

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.