Buckingham Capital Management Inc. Has $15.37 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Buckingham Capital Management Inc. reduced its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,968 shares of the CRM provider’s stock after selling 1,294 shares during the quarter. Salesforce accounts for approximately 1.8% of Buckingham Capital Management Inc.’s holdings, making the stock its 16th biggest position. Buckingham Capital Management Inc.’s holdings in Salesforce were worth $15,368,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CRM. RBA Wealth Management LLC lifted its position in shares of Salesforce by 3.7% in the 3rd quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock worth $4,426,000 after acquiring an additional 574 shares during the period. Net Worth Advisory Group acquired a new position in shares of Salesforce in the third quarter valued at $340,000. New Century Financial Group LLC lifted its position in Salesforce by 158.0% in the third quarter. New Century Financial Group LLC now owns 2,038 shares of the CRM provider’s stock worth $558,000 after purchasing an additional 1,248 shares during the period. Vest Financial LLC boosted its stake in Salesforce by 168.2% during the third quarter. Vest Financial LLC now owns 5,201 shares of the CRM provider’s stock worth $1,424,000 after buying an additional 3,262 shares in the last quarter. Finally, Godsey & Gibb Inc. increased its holdings in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares during the period. 80.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the sale, the chief financial officer now owns 45,861 shares of the company’s stock, valued at $15,128,626.68. This trade represents a 11.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Brian Millham sold 14,808 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $338.95, for a total value of $5,019,171.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,111,420 shares of company stock worth $384,366,700. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Down 1.3 %

CRM opened at $325.49 on Tuesday. The firm’s fifty day moving average is $336.56 and its two-hundred day moving average is $303.42. The firm has a market cap of $311.49 billion, a PE ratio of 53.53, a price-to-earnings-growth ratio of 2.66 and a beta of 1.31. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same period in the previous year, the business posted $1.62 EPS. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities research analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. Salesforce’s payout ratio is 26.32%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Truist Financial reiterated a “buy” rating and set a $400.00 target price (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Bank of America lifted their price objective on Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Loop Capital increased their target price on Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Barclays boosted their price target on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Canaccord Genuity Group upped their price target on Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

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.