Beacon Financial Advisory LLC Has $594,000 Holdings in Salesforce, Inc. (NYSE:CRM)

Beacon Financial Advisory LLC lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 31.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,172 shares of the CRM provider’s stock after acquiring an additional 525 shares during the quarter. Beacon Financial Advisory LLC’s holdings in Salesforce were worth $594,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Research Global Investors raised its stake in shares of Salesforce by 26.9% during the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after acquiring an additional 3,044,611 shares during the last quarter. GQG Partners LLC bought a new position in Salesforce during the 1st quarter worth $910,220,000. Swedbank AB bought a new position in Salesforce during the 1st quarter worth $874,748,000. Veritas Asset Management LLP acquired a new position in Salesforce during the 3rd quarter worth about $733,805,000. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Salesforce by 48.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock valued at $1,518,658,000 after buying an additional 1,922,674 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on CRM shares. JPMorgan Chase & Co. lifted their price objective on Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Stifel Nicolaus upped their price objective on shares of Salesforce from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Robert W. Baird lifted their target price on shares of Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Raymond James increased their price target on Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $345.00 price objective on shares of Salesforce in a research note on Friday, September 20th. Nine 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $313.37.

Salesforce Price Performance

Shares of NYSE CRM opened at $306.90 on Thursday. The company has a market capitalization of $293.40 billion, a PE ratio of 53.37, a PEG ratio of 2.67 and a beta of 1.29. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average price is $275.30 and its 200-day moving average price is $263.86. Salesforce, Inc. has a twelve month low of $208.84 and a twelve month high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (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 return on equity of 12.01% and a net margin of 15.44%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.63 EPS. On average, equities analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is 27.83%.

Insider Activity

In related news, COO Brian Millham sold 60,522 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Salesforce news, COO Brian Millham sold 60,522 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total transaction of $18,156,600.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Maynard G. Webb, Jr. sold 9,170 shares of Salesforce stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the completion of the transaction, the director now owns 1,363 shares of the company’s stock, valued at $376,624.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 149,973 shares of company stock valued at $42,672,142 in the last three months. Company insiders own 3.20% of the company’s stock.

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.