Winch Advisory Services LLC Sells 82 Shares of Salesforce, Inc. (NYSE:CRM)

Winch Advisory Services LLC decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,807 shares of the CRM provider’s stock after selling 82 shares during the period. Salesforce accounts for 1.0% of Winch Advisory Services LLC’s portfolio, making the stock its 22nd largest position. Winch Advisory Services LLC’s holdings in Salesforce were worth $3,505,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CRM. Global Assets Advisory LLC bought a new stake in Salesforce during the 1st quarter valued at about $8,557,000. Mechanics Bank Trust Department bought a new position in Salesforce in the 1st quarter valued at approximately $230,000. Fermata Advisors LLC bought a new stake in shares of Salesforce in the 1st quarter worth $418,000. Hoxton Planning & Management LLC bought a new position in shares of Salesforce during the first quarter valued at $220,000. Finally, Exchange Bank purchased a new stake in shares of Salesforce during the first quarter valued at $229,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Stifel Nicolaus upped their target price on shares of Salesforce from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Morgan Stanley increased their price objective on shares of Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Erste Group Bank reaffirmed a “hold” rating on shares of Salesforce in a research report on Wednesday, September 11th. Robert W. Baird increased their price target on Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, Piper Sandler cut Salesforce from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Nine investment 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. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average target price of $311.66.

Salesforce Stock Performance

Shares of CRM opened at $291.33 on Tuesday. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The stock has a market capitalization of $282.30 billion, a P/E ratio of 52.40, a P/E/G ratio of 2.61 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The company’s fifty day moving average is $267.44 and its two-hundred day moving average is $263.18.

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

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is currently 28.78%.

Insiders Place Their Bets

In related news, COO Brian Millham sold 969 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $253.63, for a total value of $245,767.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Salesforce news, COO Brian Millham sold 969 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $253.63, for a total transaction of $245,767.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $257.28, for a total transaction of $1,080,576.00. Following the sale, the insider now directly owns 117,581 shares in the company, valued at $30,251,239.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,110 shares of company stock worth $20,292,760. Corporate insiders own 3.20% of the company’s stock.

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.