Exencial Wealth Advisors LLC Has $16.13 Million Stake in Salesforce, Inc. (NYSE:CRM)

Exencial Wealth Advisors LLC increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 40.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,919 shares of the CRM provider’s stock after purchasing an additional 16,943 shares during the period. Exencial Wealth Advisors LLC’s holdings in Salesforce were worth $16,127,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Advisor Resource Council bought a new position in shares of Salesforce in the 3rd quarter valued at $1,104,000. Blake Schutter Theil Wealth Advisors LLC acquired a new position in shares of Salesforce in the 3rd quarter valued at about $310,000. M&G PLC lifted its stake in shares of Salesforce by 97.3% in the 3rd quarter. M&G PLC now owns 14,273 shares of the CRM provider’s stock valued at $3,911,000 after purchasing an additional 7,038 shares during the period. Consilium Wealth Advisory LLC lifted its stake in shares of Salesforce by 24.8% in the 3rd quarter. Consilium Wealth Advisory LLC now owns 3,693 shares of the CRM provider’s stock valued at $1,011,000 after purchasing an additional 733 shares during the period. Finally, Concurrent Investment Advisors LLC raised its stake in Salesforce by 2.8% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 53,674 shares of the CRM provider’s stock worth $14,691,000 after buying an additional 1,486 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 3.2 %

Shares of CRM stock opened at $306.90 on Thursday. Salesforce, Inc. has a 1 year low of $208.84 and a 1 year high of $318.71. The firm has a fifty day moving average price of $275.30 and a 200-day moving average price of $263.86. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $293.40 billion, a price-to-earnings ratio of 53.37, a PEG ratio of 2.67 and a beta of 1.29.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the previous year, the firm posted $1.63 EPS. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, equities analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 27.83%.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the sale, the chief financial officer now owns 52,930 shares in the company, valued at $15,100,399.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Sabastian Niles sold 2,484 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total value of $608,108.04. Following the completion of the transaction, the insider now owns 828 shares of the company’s stock, valued at approximately $202,702.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $255,905.13. Following the completion of the transaction, the chief financial officer now directly owns 52,930 shares of the company’s stock, valued at approximately $15,100,399.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 149,973 shares of company stock worth $42,672,142 in the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Morgan Stanley boosted their price objective on Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. FBN Securities raised Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Evercore ISI reissued an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a report on Monday, August 26th. JMP Securities reaffirmed a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a report on Wednesday, August 28th. Finally, Phillip Securities reiterated an “accumulate” rating and issued a $305.00 price objective on shares of Salesforce in a research note on Friday, August 30th. Nine 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 stock. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $313.37.

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.