Avior Wealth Management LLC Has $5.34 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Avior Wealth Management LLC raised its position in shares of Salesforce, Inc. (NYSE:CRM) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,523 shares of the CRM provider’s stock after acquiring an additional 166 shares during the period. Avior Wealth Management LLC’s holdings in Salesforce were worth $5,344,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. New Millennium Group LLC grew its stake in shares of Salesforce by 80,725.0% in the third quarter. New Millennium Group LLC now owns 3,233 shares of the CRM provider’s stock valued at $885,000 after acquiring an additional 3,229 shares in the last quarter. West Family Investments Inc. boosted its holdings in Salesforce by 76.7% in the 3rd quarter. West Family Investments Inc. now owns 2,860 shares of the CRM provider’s stock valued at $783,000 after purchasing an additional 1,241 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Salesforce by 7.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 238,067 shares of the CRM provider’s stock worth $65,161,000 after purchasing an additional 16,724 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Salesforce during the third quarter worth approximately $40,622,000. Finally, Lingohr Asset Management GmbH boosted its stake in shares of Salesforce by 48.6% in the third quarter. Lingohr Asset Management GmbH now owns 3,065 shares of the CRM provider’s stock valued at $839,000 after buying an additional 1,003 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated 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 transaction, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. The trade was a 5.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the transaction, the chief financial officer now directly owns 52,930 shares in the company, valued at approximately $15,100,399.70. The trade was a 1.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 140,173 shares of company stock valued at $40,146,206. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

CRM stock opened at $320.15 on Tuesday. The firm has a market cap of $306.06 billion, a PE ratio of 56.04, a price-to-earnings-growth ratio of 2.94 and a beta of 1.29. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average price of $288.14 and a 200-day moving average price of $266.96. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $348.86.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.63 earnings per share. As a group, equities research analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently declared 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 0.50%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is 27.83%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. BMO Capital Markets lifted their price objective on Salesforce from $305.00 to $385.00 and gave the company an “outperform” rating in a report on Friday. Northland Securities raised shares of Salesforce from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $270.00 to $400.00 in a report on Wednesday, October 2nd. BNP Paribas upgraded shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Citigroup raised their target price on Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Finally, Raymond James boosted 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. Nine investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $325.36.

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.