Cyndeo Wealth Partners LLC Acquires 4,267 Shares of Salesforce, Inc. (NYSE:CRM)

Cyndeo Wealth Partners LLC increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 25.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,866 shares of the CRM provider’s stock after acquiring an additional 4,267 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Salesforce were worth $5,711,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Ruedi Wealth Management Inc. increased 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 worth $26,000 after acquiring an additional 56 shares during the period. Piscataqua Savings Bank raised its stake in Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. Red Tortoise LLC acquired a new position in Salesforce in the first quarter valued at about $33,000. Clear Investment Research LLC lifted its position in Salesforce by 816.7% during 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 period. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Salesforce during the second quarter worth about $33,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Roth Mkm restated a “buy” rating and issued a $335.00 target price on shares of Salesforce in a research report on Thursday, August 29th. Wedbush raised their target price on Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, September 27th. FBN Securities upgraded Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Cfra set a $343.00 target price on Salesforce in a research report on Thursday. Finally, Raymond James boosted their target price on Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” 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 given a strong buy rating to the company. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $311.66.

Salesforce Stock Up 0.6 %

Shares of Salesforce stock opened at $292.94 on Friday. The stock’s 50-day moving average is $266.65 and its 200 day moving average is $263.49. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The firm has a market cap of $283.86 billion, a price-to-earnings ratio of 52.69, a PEG ratio of 2.61 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion for 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 revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.63 earnings per share. Equities research analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is currently 28.78%.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the sale, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at $1,644,921.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the transaction, the chief accounting officer now directly owns 6,431 shares in the company, valued at $1,644,921.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $229,434.66. Following the sale, the chief financial officer now owns 51,109 shares of the company’s stock, valued at $13,072,660.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 80,612 shares of company stock worth $21,429,961. 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.