Verum Partners LLC Acquires Shares of 695 Salesforce, Inc. (NYSE:CRM)

Verum Partners LLC bought a new stake in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 695 shares of the CRM provider’s stock, valued at approximately $232,000.

Several other hedge funds have also recently added to or reduced their stakes in CRM. Mitsubishi UFJ Asset Management UK Ltd. grew its position in shares of Salesforce by 560.0% in the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 6,600 shares of the CRM provider’s stock valued at $2,207,000 after purchasing an additional 5,600 shares during the last quarter. Howard Capital Management Group LLC increased its position in Salesforce by 0.3% during the 4th quarter. Howard Capital Management Group LLC now owns 115,060 shares of the CRM provider’s stock worth $38,468,000 after purchasing an additional 315 shares in the last quarter. Roberts Wealth Advisors LLC grew its position in Salesforce by 0.7% during the 4th quarter. Roberts Wealth Advisors LLC now owns 11,079 shares of the CRM provider’s stock worth $3,558,000 after acquiring an additional 75 shares during the last quarter. Atomi Financial Group Inc. increased its holdings in Salesforce by 24.0% in the fourth quarter. Atomi Financial Group Inc. now owns 14,884 shares of the CRM provider’s stock valued at $4,976,000 after purchasing an additional 2,885 shares during the period. Finally, Transform Wealth LLC increased its position in Salesforce by 7.5% during the 4th quarter. Transform Wealth LLC now owns 53,948 shares of the CRM provider’s stock valued at $18,058,000 after purchasing an additional 3,783 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Up 0.7 %

Salesforce stock opened at $326.85 on Wednesday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $336.97 and its 200 day moving average price is $292.47. The firm has a market cap of $312.79 billion, a price-to-earnings ratio of 53.76, a price-to-earnings-growth ratio of 2.93 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its quarterly 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 company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.62 EPS. As a group, sell-side analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CRM. Bank of America lifted their price target on shares of Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. DA Davidson lifted their price objective on shares of Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. JMP Securities reiterated a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Piper Sandler reissued an “overweight” rating and set a $405.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Finally, KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target for the company in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $377.63.

Insider Transactions at Salesforce

In related news, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $298.04, for a total transaction of $1,251,768.00. Following the completion of the transaction, the insider now directly owns 119,402 shares of the company’s stock, valued at $35,586,572.08. This represents a 3.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the completion of the transaction, the chief financial officer now owns 53,861 shares of the company’s stock, valued at $18,474,323. This represents a 10.35 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,172,167 shares of company stock valued at $402,223,235. 3.20% of the stock is currently owned by corporate insiders.

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.