Synergy Asset Management LLC Has $3.60 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Synergy Asset Management LLC increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 26.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,017 shares of the CRM provider’s stock after purchasing an additional 2,902 shares during the period. Synergy Asset Management LLC’s holdings in Salesforce were worth $3,604,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CRM. JFS Wealth Advisors LLC raised its position in Salesforce by 11.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock valued at $93,000 after purchasing an additional 36 shares in the last quarter. Fox Hill Wealth Management raised its holdings in shares of Salesforce by 4.0% during the 1st quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock valued at $297,000 after buying an additional 38 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its position in Salesforce by 0.8% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after buying an additional 38 shares during the last quarter. Glassman Wealth Services boosted its stake in Salesforce by 2.9% in the fourth quarter. Glassman Wealth Services now owns 1,369 shares of the CRM provider’s stock worth $360,000 after buying an additional 39 shares in the last quarter. Finally, Blue Barn Wealth LLC grew its position in Salesforce by 1.8% during the first quarter. Blue Barn Wealth LLC now owns 2,207 shares of the CRM provider’s stock valued at $665,000 after acquiring an additional 39 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Down 0.0 %

Shares of Salesforce stock traded down $0.02 during trading on Friday, hitting $246.10. The company’s stock had a trading volume of 237,620 shares, compared to its average volume of 6,569,326. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71. The company has a market capitalization of $238.47 billion, a PE ratio of 44.27, a P/E/G ratio of 2.22 and a beta of 1.29. The company has a fifty day simple moving average of $254.78 and a two-hundred day simple moving average of $270.11. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.04.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share 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 business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter last year, the firm earned $1.63 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities research analysts predict that Salesforce, Inc. will post 7.52 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was Tuesday, July 9th. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 3,528 shares of Salesforce stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $250.59, for a total value of $884,081.52. Following the completion of the transaction, the insider now owns 117,581 shares of the company’s stock, valued at approximately $29,464,622.79. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Salesforce news, insider Parker Harris sold 3,528 shares of Salesforce stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $250.59, for a total value of $884,081.52. Following the completion of the sale, the insider now owns 117,581 shares of the company’s stock, valued at approximately $29,464,622.79. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Brian Millham sold 4,056 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $261.50, for a total value of $1,060,644.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 83,692 shares of company stock valued at $21,006,957. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of recent research reports. Loop Capital boosted their price objective on shares of Salesforce from $240.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Macquarie cut their price target on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating for the company in a research report on Friday, May 31st. Roth Mkm reiterated a “buy” rating and issued a $335.00 price objective on shares of Salesforce in a report on Thursday, August 29th. Barclays lowered their target price on Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $345.00 price target on shares of Salesforce in a research report on Friday. Eight research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $304.41.

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.