Salesforce, Inc. (NYSE:CRM) Shares Bought by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 3.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,990 shares of the CRM provider’s stock after acquiring an additional 492 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Salesforce were worth $3,829,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CRM. Piscataqua Savings Bank increased its holdings 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 buying an additional 96 shares in the last quarter. Clear Investment Research LLC raised its holdings 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 last quarter. Stephens Consulting LLC boosted its position in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 125 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Salesforce in the second quarter valued at $33,000. Finally, Godsey & Gibb Inc. lifted its holdings in Salesforce by 300.0% in 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 in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CRM. Evercore ISI reissued an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a research note on Monday, August 26th. JPMorgan Chase & Co. raised their price objective on Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Piper Sandler lowered Salesforce from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Scotiabank began coverage on Salesforce in a research note on Monday. They issued a “sector outperform” rating and a $425.00 price objective on the stock. Finally, Citigroup lifted their price objective on shares of Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Nine analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $325.36.

Insider Transactions at Salesforce

In related news, COO Brian Millham sold 60,522 shares of the stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at $1,998,741.74. The trade was a 5.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 140,173 shares of company stock worth $40,146,206. 3.20% of the stock is owned by insiders.

Salesforce Price Performance

Shares of CRM opened at $322.25 on Tuesday. 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 capitalization of $308.07 billion, a price-to-earnings ratio of 56.04, a P/E/G ratio of 2.94 and a beta of 1.29. The business’s 50-day moving average is $288.14 and its 200-day moving average is $266.96. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $348.86.

Salesforce (NYSE:CRM) last issued its 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 analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.63 EPS. Equities research analysts expect that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is 27.83%.

Salesforce Company 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.