Nwam LLC Takes Position in Salesforce, Inc. (NYSE:CRM)

Nwam LLC acquired a new stake in Salesforce, Inc. (NYSE:CRM) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,209 shares of the CRM provider’s stock, valued at approximately $1,152,000.

Other institutional investors also recently bought and sold shares of the company. Swedbank AB acquired a new position in Salesforce in the 1st quarter worth approximately $874,748,000. Veritas Asset Management LLP acquired a new stake in shares of Salesforce in the third quarter worth $733,805,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Salesforce by 48.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after purchasing an additional 1,922,674 shares during the last quarter. AMF Tjanstepension AB lifted its position in Salesforce by 376.1% during the second quarter. AMF Tjanstepension AB now owns 1,442,453 shares of the CRM provider’s stock valued at $370,873,000 after purchasing an additional 1,139,472 shares during the period. Finally, KBC Group NV boosted its holdings in Salesforce by 171.2% in the third quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock valued at $447,470,000 after purchasing an additional 1,032,068 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CRM. UBS Group boosted their price objective on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a report on Friday. Citigroup upped their price objective on Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. BMO Capital Markets lifted their target price on shares of Salesforce from $305.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 15th. JPMorgan Chase & Co. increased their price target on shares of Salesforce from $310.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, DA Davidson lifted their price objective on shares of Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $336.37.

Salesforce Stock Up 1.9 %

CRM stock opened at $342.02 on Friday. The firm has a market cap of $326.97 billion, a PE ratio of 59.48, a PEG ratio of 3.04 and a beta of 1.29. Salesforce, Inc. has a one year low of $212.00 and a one year high of $348.86. 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 firm’s 50 day moving average price is $294.61 and its 200-day moving average price is $268.60.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.63 EPS. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. Salesforce’s dividend payout ratio is currently 27.83%.

Insider Buying and Selling

In other Salesforce 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 directly owns 117,581 shares of the company’s stock, valued at $29,464,622.79. The trade was a 2.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,991 shares of company stock valued at $43,333,238. Company insiders own 3.20% of the company’s stock.

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.