Waverly Advisors LLC Boosts Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Waverly Advisors LLC boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 134.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,663 shares of the CRM provider’s stock after acquiring an additional 5,534 shares during the period. Waverly Advisors LLC’s holdings in Salesforce were worth $2,910,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bear Mountain Capital Inc. purchased a new position in Salesforce in the fourth quarter valued at about $26,000. Signature Resources Capital Management LLC bought a new stake in shares of Salesforce during the 4th quarter valued at about $26,000. Ruedi Wealth Management Inc. boosted its stake in Salesforce by 186.7% during the 1st 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 during the period. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Salesforce in the 4th quarter worth approximately $31,000. Finally, Red Tortoise LLC bought a new stake in shares of Salesforce in the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other Salesforce news, COO Brian Millham sold 969 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $253.63, for a total value of $245,767.47. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, COO Brian Millham sold 969 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $253.63, for a total value of $245,767.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $277.22, for a total value of $1,164,324.00. Following the transaction, the insider now directly owns 115,762 shares of the company’s stock, valued at $32,091,541.64. The disclosure for this sale can be found here. Insiders have sold a total of 305,042 shares of company stock worth $81,019,465 over the last quarter. Company insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CRM shares. Needham & Company LLC restated a “buy” rating and set a $345.00 price target on shares of Salesforce in a report on Thursday, May 30th. Piper Sandler reaffirmed a “neutral” rating and set a $250.00 price objective on shares of Salesforce in a report on Friday, July 12th. JPMorgan Chase & Co. reduced their price objective on shares of Salesforce from $310.00 to $300.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Raymond James reissued a “strong-buy” rating and set a $325.00 price target (down from $380.00) on shares of Salesforce in a report on Thursday, May 30th. Finally, Stifel Nicolaus dropped their target price on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $292.79.

Salesforce Stock Performance

Shares of NYSE:CRM traded down $1.57 during mid-day trading on Tuesday, reaching $257.02. 1,761,924 shares of the company traded hands, compared to its average volume of 6,770,190. The company’s 50 day moving average price is $250.63 and its 200-day moving average price is $275.47. The firm has a market cap of $249.05 billion, a PE ratio of 46.40, a PEG ratio of 2.31 and a beta of 1.29. 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, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The business had revenue of $9.13 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same period in the prior year, the firm earned $1.15 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities analysts expect that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were paid a $0.40 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $1.60 dividend on an annualized basis and a yield of 0.62%. Salesforce’s payout ratio is 28.78%.

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.