Baker Tilly Wealth Management LLC Boosts Holdings in Salesforce, Inc. (NYSE:CRM)

Baker Tilly Wealth Management LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 5.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,201 shares of the CRM provider’s stock after acquiring an additional 208 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in Salesforce were worth $1,405,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Infrastructure Capital Advisors LLC purchased a new position in Salesforce in the third quarter worth $27,000. Clear Investment Research LLC lifted its holdings in shares of Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Salesforce during the 2nd quarter valued at $33,000. Godsey & Gibb Inc. raised its stake 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 during the last quarter. Finally, Annapolis Financial Services LLC lifted its stake in shares of Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after buying an additional 80 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling

In related news, insider Miguel Milano sold 719 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $342.81, for a total value of $246,480.39. Following the transaction, the insider now owns 4,659 shares in the company, valued at $1,597,151.79. The trade was a 13.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at $1,998,741.74. The trade was a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,181,817 shares of company stock worth $404,760,429 in the last ninety days. 3.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of research analyst reports. Wells Fargo & Company raised their price target on Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 12th. Needham & Company LLC boosted their price target on Salesforce from $375.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday. Piper Sandler restated an “overweight” rating and set a $405.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. DA Davidson raised their price objective on shares of Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, UBS Group raised their price objective on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average target price of $376.05.

Salesforce Stock Performance

CRM traded down $8.12 on Friday, reaching $318.78. The company had a trading volume of 2,268,347 shares, compared to its average volume of 4,175,304. The company’s fifty day moving average is $335.36 and its 200 day moving average is $288.53. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $305.07 billion, a P/E ratio of 52.43, a P/E/G ratio of 3.21 and a beta of 1.30. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00.

Salesforce (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS 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 quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.62 earnings per share. As a group, analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.50%. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

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.