Dudley Capital Management LLC Has $1.17 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Dudley Capital Management LLC boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,274 shares of the CRM provider’s stock after buying an additional 51 shares during the quarter. Dudley Capital Management LLC’s holdings in Salesforce were worth $1,170,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CRM. Vanguard Group Inc. raised its stake in Salesforce by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock valued at $25,490,446,000 after acquiring an additional 1,008,841 shares during the period. Capital Research Global Investors raised its position in shares of Salesforce by 26.9% in 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 purchasing an additional 3,044,611 shares during the period. Capital International Investors lifted its stake in shares of Salesforce by 3.0% during the 1st quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock worth $4,251,592,000 after buying an additional 407,834 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Salesforce by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after buying an additional 176,641 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in 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. 80.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CRM has been the subject of a number of research analyst reports. Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Raymond James boosted their price objective on shares of Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Phillip Securities restated an “accumulate” rating and set a $305.00 target price on shares of Salesforce in a research report on Friday, August 30th. Truist Financial reiterated a “buy” rating and issued a $315.00 price target (up from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. Finally, Sanford C. Bernstein increased their price target on Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $313.37.

Salesforce Stock Up 1.3 %

Salesforce stock opened at $310.78 on Friday. The company has a market capitalization of $297.11 billion, a PE ratio of 54.05, a PEG ratio of 2.70 and a beta of 1.29. Salesforce, Inc. has a 12-month low of $208.84 and a 12-month high of $318.71. The firm’s fifty day moving average is $275.30 and its 200 day moving average is $263.86. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.

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

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.51%. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

Insider Activity

In related news, COO Brian Millham sold 60,522 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $254.57, for a total transaction of $1,069,194.00. Following the completion of the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $29,932,595.17. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 148,573 shares of company stock worth $42,319,874 over the last quarter. 3.20% of the stock is currently owned by corporate insiders.

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.